hello fellas.i m new to forex trading and ihave a little problem as regads putting stop limits.I always have probem with puting stop/buylimits at standard required range when entrying or making an open position order.iwill really appreciate a directive,explanation oor a guide from any one who can helppls!
Helppls?????????????
- Thread starter bali1
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hello fellas.i m new to forex trading and ihave a little problem as regads putting stop limits.I always have probem with puting stop/buylimits at standard required range when entrying or making an open position order.iwill really appreciate a directive,explanation oor a guide from any one who can helppls!
Are you nervous to put Stop Loss or what? Your question is not clear.
Anyway, what I understood from your question, I'll tell you:
You can put stop loss by either:
1) depending upon your risk amount - say you agree to loose $50 on a trade so, when you are down by $50, you GET OUT without any further guessing.
2) Place the stop loss where you least expect the Market to go. So, if you are long trade, you may place the SL below a trendline/support, reverse in case of short trade.
hope you got the idea,.... For more idea(s), visit:
http://www.tradingrules.com/forum/showthread.php?t=54
http://www.forex-money-management.com/stop_loss/02/
REMEMBER !! if you don't have a stop loss, you DON'T have a trading plan and if you DON'T have a trading plan, you are blindly GAMBLING in the market.