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Do you use stoploss?

  • #441
  • Oct 16, 2020 8:47pm Oct 16, 2020 8:47pm
I also use a stop loss. It took me a while to realize that is the part of the game. You simply can't make every position earning for you. That is now essential for me, I need to know where stop loss is going to be before I open my position.
  • #442
  • Oct 17, 2020 10:33am Oct 17, 2020 10:33am
Everyone comes around to using stop-loss eventually. Some highly skilled traders may not use it in their seasoned years but I don't think anyone can survive for long if they trade without using stop-loss in their early years.
  • #443
  • Oct 18, 2020 6:44am Oct 18, 2020 6:44am
Quoting Deepak.Dubey
Everyone comes around to using stop-loss eventually. Some highly skilled traders may not use it in their seasoned years but I don't think anyone can survive for long if they trade without using stop-loss in their early years.
Highly skilled traders use mental stoplosses, & the beginners imitate that by no stoplosses
Trading fails when u try to defeat the market
  • #444
  • Oct 20, 2020 10:13pm Oct 20, 2020 10:13pm
Quoting KISvalue
{quote} Highly skilled traders use mental stoplosses, & the beginners imitate that by no stoplosses

Sounds like a nonsense. What do you mean by mental stop-losses? Cutting losses according to situation? Non-system approach has one downside - it gains zero experience for you.
  • #445
  • Oct 25, 2020 10:36pm Oct 25, 2020 10:36pm
Quoting bottomhigh
{quote} Sounds like a nonsense. What do you mean by mental stop-losses? Cutting losses according to situation? Non-system approach has one downside - it gains zero experience for you.
I appreciate if you first read properly what I wrote before bothering to reply. There I was talking about skilled traders, & beginners trying to imitate that.
Trading fails when u try to defeat the market
  • #446
  • Nov 28, 2020 4:21pm Nov 28, 2020 4:21pm
Hello, could somebody tell me if there is something i can do to protect my self against a sudden spike/gap and my pre-defined stop loss order is not going to get filled/respected at my pre-defined level?

This might be not a big deal if trading at small size but lets say i want to trade 1 Pip = +1% of my account's available capital going long at 1.3000 with a basic SL order that MT4 provides set to 1.2990. So pre defined risk would be fixed to 10 Pips or (-10%).

Now all of a sudden price spikes/gaps due to unexpected volatility or what ever you want to call it to 1.2900 instead and thats the first available price my stop loss order will get filled. Meaning a -100%, or my account wiped out.

I am using MT4 and trade on the RAW Spread account by ICMarkets. Its advertised to be a true ECN broker where my trades will be executed against the real market.

From there FAQ

Quote
We do not have a dealing desk, we are not involved in creating the prices that we show you. IC Markets offer its clients with a market execution model. This means all the trades are executed at the first available price received from our hedge counterparties once an order has been triggered. Thus, we are not able to offer guaranteed executions exactly at your requested prices, we are simply streaming the prices that we receive.

So how to protect in such case? A 100-150 Lot position wiping me out on a 100 Pips different stop price than expected might be a problem hah...
  • #447
  • Dec 4, 2020 8:31am Dec 4, 2020 8:31am
Yes. I use stoploss. it helps me to control my losses.
  • #448
  • Dec 4, 2020 8:47am Dec 4, 2020 8:47am
EVery new trader should use stop loss. Because it helps them to minimize their losses.
  • #449
  • Dec 4, 2020 9:03am Dec 4, 2020 9:03am
I think most people should be using stop loss, even if they're not newbies.
  • #450
  • Dec 4, 2020 11:29pm Dec 4, 2020 11:29pm
Absolutely. It is necessary no matter what!
  • #451
  • Dec 5, 2020 8:38am Dec 5, 2020 8:38am
Me too. I feel much safer this way.
  • #452
  • Dec 5, 2020 1:02pm Dec 5, 2020 1:02pm
Quoting Avery
Hello, could somebody tell me if there is something i can do to protect my self against a sudden spike/gap and my pre-defined stop loss order is not going to get filled/respected at my pre-defined level? This might be not a big deal if trading at small size but lets say i want to trade 1 Pip = +1% of my account's available capital going long at 1.3000 with a basic SL order that MT4 provides set to 1.2990. So pre defined risk would be fixed to 10 Pips or (-10%). Now all of a sudden price spikes/gaps due to unexpected volatility or what ever you want...

The only thing you can do is use less risk. You cant do anything about gaps.
  • #453
  • Jan 8, 2021 10:12am Jan 8, 2021 10:12am
I just don't keep trades over the weekend to avoid dealing with gaps.
  • #454
  • Jan 11, 2021 2:19am Jan 11, 2021 2:19am
Yes it is very important to use Stop loss.
  • #455
  • Jan 12, 2021 5:32pm Jan 12, 2021 5:32pm
In my opinion stop loss should be at least 100 pips, tight stop loss never works.
  • #456
  • Jan 13, 2021 11:07am Jan 13, 2021 11:07am
Some people scalp and use SL, they can't put it at 100 pips.
  • #457
  • Jan 27, 2021 9:49am Jan 27, 2021 9:49am
I'm a beginner in trading and would like to know if I can stop loss in delivery trade and what is the best way to set my stop loss at?
  • #458
  • Jan 27, 2021 10:39am Jan 27, 2021 10:39am
Quoting EliasWalter
What different methods stop-loss can be used, and is it safe for beginners to try it?
It is a risk management tools. It reduces losses and protect from any uncertain market condition.
  • #459
  • Jan 29, 2021 9:56am Jan 29, 2021 9:56am
It can be quite useful as long as it is used properly. But if it's not it turns into a double-edged sword.
  • #460
  • Jan 31, 2021 11:28am Jan 31, 2021 11:28am
It is very important to follow the trend. Failure to follow the trend can lead to a loss. When I open a trade, the trade makes a profit of 20 pips and brings the stop loss to the entry point. If the price is ever volatile, I will not have any loss. Another thing is that when I see the market volatile, I close my trade.
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