Moving stops to breakeven ?
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  1. #1

    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.

  2. #2
    It's better to partially fix your profit.

    Moving to breakeven too often is not a resonable exit - in some cases price can retest your entry level twice or even 3 times before it goes.

    But it depends on trading style - if you trade agaist levels, it's not recommended to set stops to BE, if you trade momentum (impulse acceleration) - it can be quite good.

  3. #3
    Quote Originally Posted by Value trader View Post
    It's better to partially fix your profit.

    Moving to breakeven too often is not a resonable exit - in some cases price can retest your entry level twice or even 3 times before it goes.

    But it depends on trading style - if you trade agaist levels, it's not recommended to set stops to BE, if you trade momentum (impulse acceleration) - it can be quite good.
    I agree with you, that from a few experiences I often getting locking actually been touched before the price was right away. Which in the end just getting a few points.
    It is true, the lock can gain on peace of psikollogis effect, but it still does not mean there is no weakness in the locking strategy like this. Must be a lot of experience in using this strategy, and really understand on market conditions at that time. The conclusion is on this kind of strategy, it would be best if used on long-term trades. We can lock a number of advantages with further distance from the current price.

  4. #4
    Quote Originally Posted by Value trader View Post
    Moving to breakeven too often is not a resonable exit - in some cases price can retest your entry level twice or even 3 times before it goes.
    It happens often that price retests entry level few times after going up. At this situation when price goes up and test a temporary resistance, i close some of my trade with profit and if price goes down and retest my entry level again, i place the trade equal to the lot i had closed. And if price doesn't retest still then i make profit from my not closed trade.

  5. #5
    Quote Originally Posted by Value trader View Post
    It's better to partially fix your profit.

    Moving to breakeven too often is not a resonable exit - in some cases price can retest your entry level twice or even 3 times before it goes.

    But it depends on trading style - if you trade agaist levels, it's not recommended to set stops to BE, if you trade momentum (impulse acceleration) - it can be quite good.
    I agree with you dear sir, because most of the time the market retest the breakdown point. So if we set our S/L at our entry point we could not gain any profit rather than it will be simply loss of time. Moreover sometime you can not set S/L less than a certain pips. So, we should think about it...........

  6. #6
    Quote Originally Posted by Value trader View Post
    It's better to partially fix your profit.

    Moving to breakeven too often is not a resonable exit - in some cases price can retest your entry level twice or even 3 times before it goes.

    But it depends on trading style - if you trade agaist levels, it's not recommended to set stops to BE, if you trade momentum (impulse acceleration) - it can be quite good.
    I so much respect your opinion because it contains the embodiment of truth which if carefully followed , a trader will have good profits to show for what he does. I am a long term trader and I do not fancy moving my stop loss just any how because the trade could be stopped out when your entry point is re-tested and there after the market will move seriously to your presumed direction

  7. #7
    Quote Originally Posted by Value trader View Post
    It's better to partially fix your profit.

    Moving to breakeven too often is not a resonable exit - in some cases price can retest your entry level twice or even 3 times before it goes.

    But it depends on trading style - if you trade agaist levels, it's not recommended to set stops to BE, if you trade momentum (impulse acceleration) - it can be quite good.
    yes there are some levels to watch for exit not only with breakeven. we may draw channel lines and see if market price is moving near above or below levels so we can determine a good entry and exit easily. another way is when we're using fibonacci retracement. simply if price moving near 61.8% we may either close or open new trades because it's a strong levels for market to change trend or break to continue its previous one.

  8. #8
    Trader Lyon's Avatar
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    Quote Originally Posted by Yayami View Post
    yes there are some levels to watch for exit not only with breakeven. we may draw channel lines and see if market price is moving near above or below levels so we can determine a good entry and exit easily. another way is when we're using fibonacci retracement. simply if price moving near 61.8% we may either close or open new trades because it's a strong levels for market to change trend or break to continue its previous one.
    When it comes to trading, we have to do that with some skills and market experience, in such a way that if we are not sure of the market movement, we can apply the stoploss to the breakeven, that is the best way we can trade and make sure not to loss our money. Because no analysis method is so perfect, so lets learn to protect our investment.

  9. #9
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    Quote Originally Posted by Lyon View Post
    When it comes to trading, we have to do that with some skills and market experience, in such a way that if we are not sure of the market movement, we can apply the stoploss to the breakeven, that is the best way we can trade and make sure not to loss our money. Because no analysis method is so perfect, so lets learn to protect our investment.
    Our wise decision is to safe our amount and face minimum losses , if we are good planner and manage our account successfully we plan accordingly and use the best trade strategies , it is a kind of good strategy which i like most because always if we make our stoploss to break even it will be more effective then simple stop loss .

  10. #10
    Trader Senorita's Avatar
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    It's a great work to look into managing our loss and try as possible to see we can make proper risk management decisions that will help us improve in time. Stop loss is a great means of management and we must try out best to maintain a good trade if really want to progress to have a good trade. We must take time to minimize risk and we must seek on the very best means to make a good trade so as to really succeed. Here loss must be managed and we should do our best to see we maintain a good trade that can help us to make more profits.

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