you don't need stoploss, you need GUARANTEED stoploss. that's a big difference : if there is a flash crash; the SL will NOT be triggered and you will lose much more than anticipated
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DislikedDear traders, I want to ask you questions about trading: 1. Do you use stoploss or not? 2. Why do you use stoploss and why you don't? 3. How many pips do you use your stoploss? thanks anywayIgnored
Disliked{quote} the level of a guaranteed stoploss will be used independently of the slippage during the closing of your trade for example : during flash crash, there is high volatility, low liquidity. Basically if you're in a buy and the price drops, you cannot close your trade, because everybody wants to sell obviously but if you got guaranteed stoploss, as some brokers propose, the trade close price will be the one of the stoploss you set earlier, no matter what happens. of course you gotta pay a fee to have guaranteed stoplossesIgnored
Disliked{quote} the level of a guaranteed stoploss will be used independently of the slippage during the closing of your trade for example : during flash crash, there is high volatility, low liquidity. Basically if you're in a buy and the price drops, you cannot close your trade, because everybody wants to sell obviously but if you got guaranteed stoploss, as some brokers propose, the trade close price will be the one of the stoploss you set earlier, no matter what happens. of course you gotta pay a fee to have guaranteed stoplossesIgnored
Disliked{quote} So how would a trade ends if there is no liquidity in the market and which brokers do offers such guaranteed stop loss, can you elaborate these two little confusions. Thanks in advance.Ignored
Disliked{quote} the level of a guaranteed stoploss will be used independently of the slippage during the closing of your trade for example : during flash crash, there is high volatility, low liquidity. Basically if you're in a buy and the price drops, you cannot close your trade, because everybody wants to sell obviously but if you got guaranteed stoploss, as some brokers propose, the trade close price will be the one of the stoploss you set earlier, no matter what happens. of course you gotta pay a fee to have guaranteed stoplossesIgnored
DislikedI also use stop losses, need to be strict! Cant let greed over power you!Ignored
DislikedNot using a stop loss means you can predict the market. That is a fallacy. No one can. That is why there will never be a holy grail . Using a stop loss removes an emotional burden of guilt that would have occurred if one didn't use a stop loss and made a huge loss. In every way, it pays both emotionally and financially to use a stop loss. I don't use one because people say it should be used. I use a stop loss because it is the wise thing to do.Ignored
Disliked{quote} You think using a stoploss is the only way to manage your risk on a trade?Ignored
Disliked{quote} There might be other ways but an SL takes away most of the fear of losing money every trader faces. We want to make a living through trading rather than have grandiose ideas fueled by greed.Ignored