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Do you use stoploss?

  • #281
  • Sep 12, 2017 1:06pm Sep 12, 2017 1:06pm
Should you leave trades open over night ?
  • #282
  • Sep 13, 2017 5:40am Sep 13, 2017 5:40am
Quoting goodluckh4
I don't use SL nor TP because I'm confident in my capital management (I start very small) and I have time to devote.
That means, you stay here when your trades are open? How you manage your trades during high voltage news?
  • #283
  • Sep 13, 2017 6:14am Sep 13, 2017 6:14am
Quoting goodluckh4
I don't use SL nor TP because I'm confident in my capital management (I start very small) and I have time to devote.
May I know details about your trading experience, please? What’s your trading strategy? I am sure. Trading without the stop loss trading tool is always risky.
  • #284
  • Sep 13, 2017 6:30am Sep 13, 2017 6:30am
using stoploss is very important because no matter how safe you trade you should always have a stop loss which can help you to decide on your MM.
  • #285
  • Sep 13, 2017 6:41am Sep 13, 2017 6:41am
Quoting bogdy23
Should you leave trades open over night ?
Highly leveraged scalping or intraday trades? Probably not.



Long term swing trades? Probably yes.


I am a longer-term trader and I leave my tardes open over night, over the weekend and over high impact news.

If you can't sleep because of one of your trades, you are overleveraged.
  • #286
  • Sep 13, 2017 6:53am Sep 13, 2017 6:53am
Quoting GeorgeBaile
{quote} May I know details about your trading experience, please? What’s your trading strategy? I am sure. Trading without the stop loss trading tool is always risky.
GeorgeBaile,
trading is risky. period.
trading with a SL is risky too. you risking to have a string of losses that as well might be at the verge to go your way, just hitting you with a loss before.
using your SL, how much is your best drawdown number? how many times more your profit vs the max drawdown? how long is the performance goes back, is it few lucky days, or weeks, months?
these should give some framework to "risky".

DarrenLehma,
trading small, means a 100 pips move wont have any devastating effect on your trade. or 300 pips.
of course trading small also means your profits wont be in the 100% monthly range, or anywhere near that.
nor your drawdown; the probability to blow up your account will be lower as well.
there is always, always another trade!!
  • #287
  • Sep 14, 2017 10:38pm Sep 14, 2017 10:38pm
Quoting bogdy23
Should you leave trades open over night ?
I will never leave the trade open for a night or a day. I do not hold a trade for long time. My trading time frame is about 1 to 4 hours. So I trade between this time.
  • #288
  • Sep 15, 2017 4:07am Sep 15, 2017 4:07am
Does anyone know how to check the maxium volume I can buy in mt4 with my funds avaialable?
  • #289
  • Sep 15, 2017 11:40pm Sep 15, 2017 11:40pm
Hi!
Yes I do use Stop loss. It is very beneficial as it restrict the loss below a certain price, but as the market fluctuates highly so there is a possibility the stop loss price hits and market recovery after that. In the condition my trade would close automatically and I have to bear the loss even if the market recovers. This is why I use Trailing stop loss I which my deal does not gets closed and as the market recovers my trade recovers accordingly.
  • #290
  • Sep 16, 2017 12:52am Sep 16, 2017 12:52am
1) Why are you asking to lose ?
2) Why do you believe you have to lose in order to win ?
  • #291
  • Sep 16, 2017 5:35am Sep 16, 2017 5:35am
Quoting Butterscotch
{quote} I will never leave the trade open for a night or a day. I do not hold a trade for long time. My trading time frame is about 1 to 4 hours. So I trade between this time.
I never use stop loss due to the fear ofbeing hunt n stopped out by broker,becaue in demo account I noticed htat my stop was always hit and if we are sure of our trades,it doesn't need stops,all the videos and trading material will teach you high on stops,because broker eats our money. so be sure of your trade and keep mental stops or wide stops.
  • #292
  • Sep 16, 2017 6:22am Sep 16, 2017 6:22am
Quoting a12312
Does anyone know how to check the maxium volume I can buy in mt4 with my funds avaialable?
It depends on your trading account and equity!
  • #293
  • Sep 16, 2017 10:55am Sep 16, 2017 10:55am
Quoting a12312
Does anyone know how to check the maxium volume I can buy in mt4 with my funds avaialable?
Click on the pair and select "details" ...
Market is not random but unpredictable
  • #294
  • Sep 17, 2017 9:46pm Sep 17, 2017 9:46pm
I think Cut loss instead of stop loss could be appropriate.
Never Gamble Forex
  • #295
  • Sep 18, 2017 8:17am Sep 18, 2017 8:17am
Quoting yesyoucan
I think Cut loss instead of stop loss could be appropriate.
That is a pretty great way of putting it. It's true, a trader should know when to cut their losses and the SL function certainly helps with that.
  • #296
  • Sep 19, 2017 7:12pm Sep 19, 2017 7:12pm
Quoting 4for4
{quote} Click on the pair and select "details" ...

Sorry. Where do u find this "details" in mt4?? Sry newbie here
  • #297
  • Sep 19, 2017 10:21pm Sep 19, 2017 10:21pm
Quoting a12312
{quote} Sorry. Where do u find this "details" in mt4?? Sry newbie here
When you click on a pair, you will see 3 choices: "Trade - Chart - Details" ...

The details contain several information. One of them is the "Contract size" and the other is the "Margin". From those information, you can calculate how many lots can you play with whatever account balance you have ... (sorry, my screen shot of the details can't be uploaded here)
Market is not random but unpredictable
  • #298
  • Sep 20, 2017 12:19am Sep 20, 2017 12:19am
Quoting 4for4
{quote} When you click on a pair, you will see 3 choices: "Trade - Chart - Details" ... The details contain several information. One of them is the "Contract size" and the other is the "Margin". From those information, you can calculate how many lots can you play with whatever account balance you have ... (sorry, my screen shot of the details can't be uploaded here)
Thks for your help mate. However not too sure how o calculate the max lot. Its says in my mt4 software:

Margin: 100%
Contract size: 100,000
Min vol 0.01
Max vol 100 000


Whats max vol???
  • #299
  • Sep 20, 2017 4:44am Sep 20, 2017 4:44am
Quoting a12312
{quote} Thks for your help mate. However not too sure how o calculate the max lot. Its says in my mt4 software: Margin: 100% Contract size: 100,000 Min vol 0.01 Max vol 100 000 Whats max vol???
Volume usually refers to "lot size" ...
I'm not sure about the "100% Margin" ...
Mine says "$1000 Margin" and "$100,000 Contract" ... it means to open a 1-lot position, my account balance or free margin needs to be at least $1000 ...
Market is not random but unpredictable
  • #300
  • Sep 20, 2017 6:54am Sep 20, 2017 6:54am
Quoting 4for4
{quote} Volume usually refers to "lot size" ... I'm not sure about the "100% Margin" ... Mine says "$1000 Margin" and "$100,000 Contract" ... it means to open a 1-lot position, my account balance or free margin needs to be at least $1000 ...

Thats odd. my mt4 software shows it as " Margin %" not just margin
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