Mental Stop Loss, How does it work? - Page 159
Page 159 of 210 FirstFirst ... 59109149155156157158159160161162163169209 ... LastLast
Results 1,581 to 1,590 of 2100

Thread: Mental Stop Loss, How does it work?

  1. #1
    Trader
    Join Date
    Jul 2017
    Posts
    4,292
    Thumbs Up
    Received: 17
    Given: 1

    Mental Stop Loss, How does it work?

    There are people that have always talked mental Stop loss which involves the use of trading without actually setting a physical stop loss in the charts but trying to use an invisible one that is set in the minds of the forex trader, I personally trade this way most of the time because in the past I have always have reasons to use stop loss which always got hit, the sad and unfortunate part is that people are greedy and don't want to follow some basic rules, as a newbie I always felt that brokers were constantly on the look out for my trades for them to take me out, and for some reasons too I got used to trading with strictly mental Stop loss, that is my personal story about this matter.

    Not allowed!

  2. #1581
    Trader Killer_Queen's Avatar
    Join Date
    Jul 2016
    Location
    in a place i call home
    Posts
    2,827
    Thumbs Up
    Received: 65
    Given: 54
    Quote Originally Posted by mao View Post
    to be place a mental stop loss is only reliable when you are active in the platform all the time and consistent monitoring the market which is not possible for a trader and very bad decision to place stop loss in mind. it is very stressful and can not give you enough sense to control it mentally when market can change its position suddenly so try to be place it physical always to secure your trade.
    i choose not to do this all the time even i am staying in market and watch how market moves for full day. i always use fixed rate of stop loss according to my trading plan and never change anything since because i want to focus on making things as consistent as possible without breaking the rules, my own rules. try to discipline ourself first before we can try to create our own rules to follow.

    Not allowed!

  3. #1582
    Trader
    Join Date
    Nov 2017
    Posts
    5,282
    Thumbs Up
    Received: 34
    Given: 86
    You need to understand what the market will give to you and then from there you should know and understand more better that the use of mental stoploss is so much going to be wrong, you are just going to open your way to losing more and more money. Stoploss is important and same as the trader making good analysis. Get to know how to protect your trading account so as to become profitable.

    Not allowed!

  4. #1583
    Trader ola4real's Avatar
    Join Date
    Mar 2018
    Posts
    8,262
    Thumbs Up
    Received: 47
    Given: 20
    Quote Originally Posted by Killer_Queen View Post
    i choose not to do this all the time even i am staying in market and watch how market moves for full day. i always use fixed rate of stop loss according to my trading plan and never change anything since because i want to focus on making things as consistent as possible without breaking the rules, my own rules. try to discipline ourself first before we can try to create our own rules to follow.
    It is better to have the fixed stop loss, and it is better that you don't use the mental stop loss to place the stop loss. The mental stop loss is bad in the sense that it will not let you trade as you should trade. I prefer to be trading with the normal stop loss that will be on the chart even when i am not there. That is consistency, it will make traders to have their mind at rest that they can have their account protected with it.

    Not allowed!

  5. #1584
    Trader
    Join Date
    Aug 2018
    Posts
    2,122
    Thumbs Up
    Received: 8
    Given: 7
    There can be no stop and mental stop loss if trader sits in front of computer and watches the market. He will know what to do if market turns against him. But if orders are opened and nobody watches the market so real stop loss should be because nobody knows where the market will go and what can happen and especially if trader has big leverage.

    Not allowed!

  6. #1585
    Trader
    Join Date
    May 2018
    Posts
    6,459
    Thumbs Up
    Received: 38
    Given: 4
    We should not bother with the mental stop loss unless we already understand the type of losses that we can experience from it, I have been tempted lately to trade without the physical stop loss because the market has been crazy these last few weeks, although I have lost many accounts because of this issue, I still trade aggressive sometimes because I need money to settle some bills, so I use the mental stop loss under this situation.

    Not allowed!

  7. #1586
    Trader
    Join Date
    Jul 2017
    Posts
    4,292
    Thumbs Up
    Received: 17
    Given: 1
    Quote Originally Posted by Rola View Post
    There can be no stop and mental stop loss if trader sits in front of computer and watches the market. He will know what to do if market turns against him. But if orders are opened and nobody watches the market so real stop loss should be because nobody knows where the market will go and what can happen and especially if trader has big leverage.
    It is dangerous to always seat in front of the computer in anticipation of trades that would come, I have tried that style of trading before, the impact that it had on me is something that I am still trying to recover from, the market without a mental stop loss is better if you actually know you cannot handle the discipline aspects of it, but if every thing else is in place, I believe you should use the mental stop loss.

    Not allowed!

  8. #1587
    Trader
    Join Date
    Jul 2017
    Posts
    8,577
    Thumbs Up
    Received: 32
    Given: 22
    I am not sure that the teaching of this trading system will be received by some great traders and i know to that it is going to be rejected because there is nothing like mental stop in forex market. You either open your trade with the inclusion of your stop loss order, or you do the modify system where you can make some correction if you so desire.I prefer to include my stop loss and my take profits, as soon as i open a trade, i ad my stop loss.

    Not allowed!

  9. #1588
    Trader
    Join Date
    Dec 2018
    Posts
    3,180
    Thumbs Up
    Received: 8
    Given: 7
    We have to use stoploss in market for secure trading if we are working and planing trade without stoploss so our issue always increase we have to avoid it , we must make it sure we are trading better with the use of stoploss and for maximize our profits in market safely we are trading here .

    Not allowed!

  10. #1589
    Trader Sixteen's Avatar
    Join Date
    Sep 2015
    Posts
    12,155
    Thumbs Up
    Received: 141
    Given: 68
    Traders must learn to use stop loss in trading. This is the best opportunity for them to manage their risk and have an increased possible chance to make profits from forex. If the plans are not followed to build a strong trade, it becomes very easy to loose here and we will always find it difficult to make witih profits from forex. If we don't set our stop loss in an open trade, then there could be a high chance to loose in this trade and this will not in anyway help us out with risk management.

    Not allowed!

  11. #1590
    Trader
    Join Date
    Apr 2018
    Posts
    2,243
    Thumbs Up
    Received: 4
    Given: 2
    It is very wrong for us to be trading with mental stop loss cause that cannot protect our investment from heavy loss, we can lose big amounts to the market without even knowing it because we didn't set stop loss, it's not good to be trading with mental stop loss or trading without take profit, we should always consider this tool at all time for the better protection of our equity.

    Not allowed!

Page 159 of 210 FirstFirst ... 59109149155156157158159160161162163169209 ... LastLast

Tags for this Thread

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •