Mental Stop Loss, How does it work? - Page 162
Page 162 of 209 FirstFirst ... 62112152158159160161162163164165166172 ... LastLast
Results 1,611 to 1,620 of 2090

Thread: Mental Stop Loss, How does it work?

  1. #1
    Registered user
    Join Date
    Jul 2017
    Posts
    4,169
    Promo (¢)
    3,315
    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. #1611
    Registered user
    Join Date
    Jun 2017
    Posts
    9,094
    Promo (¢)
    8,010
    Thumbs Up
    Received: 28
    Given: 12
    The way the mental stop loss work is that you have to manually exit your trade yourself but when we use actual stop loss in our trade, stop loss is what try to protect our capital and exit the market at the right time, that's a less stressful method of trading, while the mental stop loss is a very stressful method of trading, cause every time we have to watch the chart.

    Not allowed!

  3. #1612
    Registered user
    Join Date
    Apr 2016
    Posts
    3,483
    Promo (¢)
    3,375
    Thumbs Up
    Received: 14
    Given: 3
    Quote Originally Posted by Eneregha View Post
    The way the mental stop loss work is that you have to manually exit your trade yourself but when we use actual stop loss in our trade, stop loss is what try to protect our capital and exit the market at the right time, that's a less stressful method of trading, while the mental stop loss is a very stressful method of trading, cause every time we have to watch the chart.
    I dont think about all the mental stop loss kind of things and I just believing in opening trades furnished with a stop loss. When we use the ordinary stop loss we can even open the trade and then do something else, we need not stay in front of our terminal all the time. What is important that we know how to use the stop loss thing in each and every of our trades so that we dont invite heavy losses at any time of trading.

    Not allowed!

  4. #1613
    Registered user
    Join Date
    Jul 2017
    Posts
    3,982
    Promo (¢)
    13,052
    Thumbs Up
    Received: 6
    Given: 1
    Mental stop loss does not really work for me,it entails taking a mental note of where you want to place your stop loss and exiting the market once price get to that point,but the issue with this is the fact sometimes it might too difficult just close a trade like that,network problems and even volatility may arise.

    Not allowed!

  5. #1614
    Low Cost
    Join Date
    Apr 2018
    Posts
    2,046
    Promo (¢)
    2,010
    Thumbs Up
    Received: 4
    Given: 2
    Mental stop loss cannot protect our investment from heavy loss, if we can keep our eyes on the chart always then no problem as you can manually protect your account balance from heavy loss, but when you cannot keep your eyes glue to the chart always, then you need stop loss to help prevent the market from giving you heavy loss.

    Not allowed!

  6. #1615
    Low Cost pajero's Avatar
    Join Date
    Jul 2017
    Location
    Picking up Miracles
    Posts
    1,713
    Promo (¢)
    12,673
    Thumbs Up
    Received: 4
    Given: 5
    This stop loss, something that must be done for traders who are serious in the forex field, especially for traders chasing deposits.

    Stoploss.
    1. As good as any MM, if the timing stop loss is incorrect, finally so-so, tired, tired, trading, 50 luck, 50 loss, a little more, tired a lot. Tomorrow is getting excited. Start thinking the trading system is wrong, even though the system is good, the stop loss is not right.
    2. Do not install the stopper if you are hesitant to install it, just remove it.
    3. Avoid installing stoploss in even numbers, psychological numbers, look for a stop stop that is rarely priced.
    4. Avoid installing stoploss with trailing stop below 75% of the initial target of the trip, the timing opens only rarely, do not rush lock profit, because it is the same as installing stop losses in point number 3.
    5. Avoid installing stop losses when news, except to do a 2-way pending order transaction (if allowed by the broker, and not requote)

    Install stoploss
    1. If you want to lock in a profit position, put a stop loss above below the new resistance for long positions. above new supports for short positions.
    2. Install the timing stop after the price is really weak to reverse direction.
    3. The most important thing is, put a stop loss, if the ratio has to chance or profit opportunity, 3x of the acceptable loss rate. If we find the best stop loss position far from our current open price, then it doesn't need to be installed, if you don't need to put a stop loss, then the transaction has not been opened. that is to say, the timing is open the transaction is not good.

    in theory, stoploss is limiting losses, this is greatly avoided for newly joined traders, because traders will think.

    1. Who does Mas want to lose?
    2. trading to 1 loss of 3 dollars, trading to 2 profit of 100 $, traders are still chestless, but if trading first profit 100, trading to 2 loss of 30 $ can our hearts accept? honest dech !! then if that is the case, then the next trading is good, the gag starts?


    In theory, stop loss to avoid MCs, in fact, the MC is because they stop touching, finally, unconsciously, traders will be afraid of holding back profits due to several losses, not the return price, the price, this.

    This stop loss is a hidden scourge.

    This stop loss is actually avoiding the MC account, leaving a reserve fund, if something unexpected happens, it doesn't make us not lose. so, on this basis.

    1. Stop loss limits the loss, what's wrong is, "I will install a stop stop based on a good MM" this is wrong.
    2. Stop loss limits the loss, the wrong thing is, "I will install stop loss, here I just stop, so if I lose a lot," this is still wrong.

    installing stoploss requires timings that are PAS!
    install stoplocks as well as analyze further where the price moves where, the best stop loss position is the same as installing the best open transaction position.

    fix the timing of the open transaction, stop loss and MM ratio will follow, if the timing open is not good, then the trader forces rain in the hot sun.

    Not allowed!

  7. #1616
    Registered user
    Join Date
    Nov 2017
    Posts
    7,129
    Promo (¢)
    1,815
    Thumbs Up
    Received: 35
    Given: 68
    Irrespective of how so many people thinks that it works, I still know that the use of the mental stoploss means that you are still not making use of stoploss at all and then again, it is not appropriate for the forex trading business, you will only get to loss a lot more in the business. So, we need to be realistic with this business and then know that, stoploss should be used in good amount and then you should have quality trading.

    Not allowed!

  8. #1617
    Low Cost
    Join Date
    Apr 2018
    Posts
    2,046
    Promo (¢)
    2,010
    Thumbs Up
    Received: 4
    Given: 2
    I don't believe that we can ever trade forex properly with a clear mind when we are trading without stop loss, cause the mental stop loss stand for, trading without the use of stop loss, this is not a safe means of trading because our whole investment will be at risk when we have open position with no stop loss, mental stop loss is not good so therefore I do not recommend it.

    Not allowed!

  9. #1618
    Registered user
    Join Date
    Jun 2017
    Posts
    9,094
    Promo (¢)
    8,010
    Thumbs Up
    Received: 28
    Given: 12
    Believe it all not, the mental stop loss is not something that can work for a long time, because when we already spend 30 minutes to sit and watch the chart without leaving our computer that alone will make us so tired, so the mental stop loss is not somethings that will last for a long time, stop loss is what we need to really protect our capital from unnecessary losses.

    Not allowed!

  10. #1619
    Registered user
    Join Date
    Feb 2019
    Posts
    342
    Promo (¢)
    0
    Thumbs Up
    Received: 1
    Given: 3
    Mental stop loss is that order that we promise ourself that we will use if price hits a certain level,when we are losing 100 pips, we start hesitating if we are not exiting our trade too early,I think mental stop-losses are for the very experienced traders only,in order to protect yourselves against adverse market movements,physical stop-loss is the best way to limit our risk.

    Not allowed!

  11. #1620
    Registered user
    Join Date
    Nov 2017
    Posts
    5,414
    Promo (¢)
    1,710
    Thumbs Up
    Received: 36
    Given: 41
    Quote Originally Posted by Eneregha View Post
    The way the mental stop loss work is that you have to manually exit your trade yourself but when we use actual stop loss in our trade, stop loss is what try to protect our capital and exit the market at the right time, that's a less stressful method of trading, while the mental stop loss is a very stressful method of trading, cause every time we have to watch the chart.
    mental stop loss is working in your own mind but not protect your trade all the time as it is impossible for a part time trader to monitor the market consistently and handle the trade according to mentally stop loss but it is not doing automatically so you have no guarantee that you are active in the market while stop loss hit the market and ruin your account easily so try to used it physically in your trade rater than mentally.

    Not allowed!

Page 162 of 209 FirstFirst ... 62112152158159160161162163164165166172 ... 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
  •