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Thread: Moving stops to breakeven ?

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    Moving stops to breakeven ?

    breakeven in forex means a method to mark a level till which your profits is secured. when you have a good pips gain then you could move your stop loss to the entry which would mean the trade would be free ride and you would gain no loss even if the trades went against you. also you could move your stop loss further your entry point to lock profits at a level which you think the price won't reach.

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    When we move our stop loss automatically to break even after we have gained some profit, what we have done is to secure our account, without the stop loss, our money will not have the basic protection that is required to become big. Break even is a situation where you have absolutely nothing to fear about the outcome of a trade because you risks has been completed wiped off the trade, it makes you feel relaxed.

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    Its a very good strategy that we need to use the stop loss in our trading at break even point. We cannot open a trade with break even levels stop loss because we must need some pips different from our opening orders. When our trade is on some pips profit like 40-50 pips then we can place our stop loss at break even and then we can earn good profit from forex without any risk of loss.

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    Quote Originally Posted by jassim View Post
    Its a very good strategy that we need to use the stop loss in our trading at break even point. We cannot open a trade with break even levels stop loss because we must need some pips different from our opening orders. When our trade is on some pips profit like 40-50 pips then we can place our stop loss at break even and then we can earn good profit from forex without any risk of loss.
    I don't think so, because the market price will always move, so therefore when we are moving the stoploss to breakeven, then we might make some mistakes, in such a way that the price will get to our entry point and then get back to our anticipated area, that way we are already out of the trade while our analysis gets to be correct, that is my point about it, however we can still make use of it.

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    Its good to trade with suitable stop loss point but I never prefer to use stop loss at break even point because if you will place the stop loss at break even then you will lose your trade easily. Its better to use stop loss above the higher and below the lower price level if you want to make some money from this business.

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    Quote Originally Posted by mao View Post
    Its good to trade with suitable stop loss point but I never prefer to use stop loss at break even point because if you will place the stop loss at break even then you will lose your trade easily. Its better to use stop loss above the higher and below the lower price level if you want to make some money from this business.
    That is right because without the stop loss we will be putting all the money at risk in our account on any trade we open. For proper using of stop loss what we need is a strong practice and this practice we can do following our strategies on demo. In the first place all trading should be opened with proper planning and analysis and this is how we know how much profits to book.

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    This could be good depending on the way the trader is making use of it, but for me,I have never for once liked the idea of moving my stop to breakeven, because I do know that the market is filled with uncertainty and so therefore also, I have also known that I needed to make sure that I gave the trade some space to move as expected, therefore, moving stoploss to breakeven could easily get me out of the trade.

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    Moving stops to breakeven is good practice among traders but we should understand the market if there is trend or market moves sideways. If market moves sideways so the stop loss will be triggered and it is better not to be greedy. But if there is trend so moving stop to breakeven will let the profit to run. So everything depends on market conditions.

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    Moving of stop loss to break even is very important in Forex trading,the number one rule of trading is the ability to protect equity or capital,and the best way we can do is to move stop to break even all the time,that way a trade we are already profiting from can not go back into a loss anymore that is very important.

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    Stop loss is something we should do well to manage. Moving stops to break even is something that traders do time to time to manage their capital and see their trade is risk free. But for breakeven to become possible, there is need to be in a positive pip first because it's your profits that will act as your leverage to trade risk free thereby giving you the opportunity to move stops to break even level.

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    Quote Originally Posted by Senorita View Post
    Stop loss is something we should do well to manage. Moving stops to break even is something that traders do time to time to manage their capital and see their trade is risk free. But for breakeven to become possible, there is need to be in a positive pip first because it's your profits that will act as your leverage to trade risk free thereby giving you the opportunity to move stops to break even level.
    It is very essential in Forex trading,once we learn how to use break even losing trades will reduce for us,we have trades that we are winning then suddenly turns to losing trade,that is because stop loss was not not move break even point,the worst that can happen with break even point is that you will not gain,but you will not lose also.

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    Quote Originally Posted by Senorita View Post
    Stop loss is something we should do well to manage. Moving stops to break even is something that traders do time to time to manage their capital and see their trade is risk free. But for breakeven to become possible, there is need to be in a positive pip first because it's your profits that will act as your leverage to trade risk free thereby giving you the opportunity to move stops to break even level.
    It is very essential in Forex trading,once we learn how to use break even losing trades will reduce for us,we have trades that we are winning then suddenly turns to losing trade,that is because stop loss was not not move break even point,the worst that can happen with break even point is that you will not gain,but you will not lose also.

    Not allowed!

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