stress free trading...
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thread: stress free trading...

  1. #1
    Junior Member pilibergado's Avatar
    13

    stress free trading...

    There is two significant camps of trading style. Those that use stops and the ones who don't.

    There's very good reason NOT to use stop orders, since it is a frequent trading tatic of significant cash, to take your stop order, for their own profit. BIG cash are are gamers who's money really moves the market.

    The most frequent egy is to use a plogical stop, which operates well, if you're there watching the market and disciplined enough to follow you egy. Many do not. However, of course, being glued to monitor day and night, is a rigid weight.

    While you may not use them, whether you use stop orders to guard your new position against loss, or as a means of protect your existing profits, it is a vital egy to have in your arsenal. ESPECIALLY in the event that you want to have the ability to leave the track, or sleep nights.

    If you have never done this until USE your demo account to experimentation. When you place a transaction, you have the option of also placing a stop and limit order. Furthermore, if you put in a trade with a market order, you ALWAYS have the option of adding these contingency stop and limit orders, later.

    The nice thing about connecting the stop and limit orders to your position, is that if any one is struck, then the other is canceled. ALSO if you shut that place with a market order, then the stop and limit orders linked to that place are automatically canceled. Nice. Huh?

    Lets use 20 pips as an example. You enter the market and have a position. You link a 20 pip stop loss and a 20 pip limit order for your position. Once this is done, you can walk off. Either one of the two things can occur, depending on how the market moves. Either you're going to make 20 pips or you're likely to loose 20 pips.

    Of course that's just a hypothetical case. However, you get the idea. When you begin trading like this, or at least learning to exchange this manner as a workout, you're pushing yourself, to seek out the cheapest risk entry points, which is ALWAYS a fantastic thing to do.

    The large upside to learning how to exchange this way, is you're become MUCH less likely to make gut decision based of the feelings of and greed.

  2. #2
    Junior Member Oxnoliguti's Avatar
    16
    Thank you for the suggestion. I am new and have been experimenting with placing an OCO right after a purchase (at a practice account).

    My query is if the high liquidity of the forex market essentially prevents any huge moves down or up that could leave me dozens of pips away from my target exit price? (In the stock market, you might get stopped out but in a much lower price due to sudden motions or illiquidity. Is a problem with FX? If so, how big a problem is it?)

    Thanks.

  3. #3
    1. Find profitable price patterns/setups and invent entry/exit principles to exploit them (for me personally, that is the toughest part). Be as selective as is needed. 2. Keep testing until you are convinced that your egy is long-term (statistically) profitable. Confidence in your method is crucial. 3. Either commerce in demo, or perform only with money that you could afford to lose. 4. Determine maximum allowable risk before you enter every trade. Size positions consistently, and small enough so that losses are equally financially and emotionally inconsequential....
    Worth a bump up, the material is just as relevant today as it was 5 years ago

    Thanks to David

  4. #4
    'And so the dove fell from the Skies'

  5. #5
    Member niko's Avatar
    56
    The key to stress free trading is the correct use of cash management and more time frames.

  6. #6
    Stops is similar to seatbelt. You don't think that it's helpful until you get into a BIG ACCIDENT. That mishap can be anything from extreme market crash, a broker platform freeze. Then you would really wish you had put on the seatbelt...

    It just takes ONE bad accident

  7. #7
    Where is your stress free part of the again?

    ...

  8. #8
    Member niko's Avatar
    56
    Where's the stress free part of the again?

  9. #9
    Junior Member Angogar's Avatar
    11
    A. Dont trade
    or
    B. Trade with .01 a pip movement. If your incorrect by 100 pips, based upon the pair it's only cost ya around $1 U.S. Dollar.

  10. #10
    Junior Member lgox1963's Avatar
    29
    A. Dont Exchange
    or
    B. Trade with .01 a pip movement. If your wrong by 100 pips, based on the pair it's only cost ya about $1 U.S. Dollar.
    You forgot to say C. Trade at Demo:

    If you really need to free some strain have a cup of tea and squeeze out a sponge ball. Concerning the stop loss I like the analogy of , you never anticipate sh*t happening, until it happens...

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