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Thread: Mental Stop Loss, How does it work?

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    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.

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  2. #1631
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    Quote Originally Posted by Krosneles View Post
    Yes, the main reason is fear to accept the losses of not placing stop loss. Traders have psycholgical problems and that does not let to work well in forex market. Trader shoul be with cold mind and think that losses are part of forex business and maybe he lost today but he will earn tomorrow. Stop losse should be placed always.
    Many times there are issues like fear or we dont like to get losses in our trades that dont allow us to use the stop loss. Forex is all about learning and implementation from stop loss to a strategy. A person who is trained well will have less chances of losing his money. With good planning and set up we can have better means of earning and loss management.

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  3. #1632
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    mental stop is not easy to be obtained especially for the beginners that still do not know how to control their trading and how to use the stop loss properly, the trader needs to know how to trade properly to be able to know how to develop good mental stop as the trader that knows how to trade well will be able to know how to stop the bad trading.

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  4. #1633
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    Mental stop loss means nothing because if something happens in market so trader will not be able to do something and he will lose money. Only real stop loss can help. I think that new traders do no want to accept losses and they do not place stops or they do not know how to place stops well. But real stop loss should be.

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  5. #1634
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    Mental stop loss, is for us to actually trade without stop loss, and trading without stop loss is very risky business we don't no when we will encounter loss and without stop loss and the market is against us we could lose heavily in short period of time, especially when the market is high volatile, so it's important we used stop loss in protection of our equity.

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  6. #1635
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    The use of stop loss in trading is a thing that traders in the Forex market should not handle with lefty, this is a tool that protect and minimize the loss in trading, any trader neglecting this rule of trading is subjecting the account into threat by the market, it helps traders to trade without fear.so it is good to apply this in the physical than making it invisible or making it to be in mind.

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  7. #1636
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    This is the well thread of the trading , i like to do trade with the long term strategy . there is no thing like the mental stop loss , i am no well expert in stop loss of the trading . there are some main method to stop the loss many trader use some trick to stop the loss these are the expert trader of the forex . they earn a lot of money from the forex.

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  8. #1637
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    Quote Originally Posted by GEO View Post
    This is the well thread of the trading , i like to do trade with the long term strategy . there is no thing like the mental stop loss , i am no well expert in stop loss of the trading . there are some main method to stop the loss many trader use some trick to stop the loss these are the expert trader of the forex . they earn a lot of money from the forex.
    The importance of stoploss is for short term trade strategy are higher and for long term are less , so in this way i think its absolutly find for trader to trade with mental stoploss because level of stoploss is away from entry and according to market normal range it is moving 50 to 80 pips daily make your stoploss accordingly .

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  9. #1638
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    Quote Originally Posted by famousfx View Post
    The use of stop loss in trading is a thing that traders in the Forex market should not handle with lefty, this is a tool that protect and minimize the loss in trading, any trader neglecting this rule of trading is subjecting the account into threat by the market, it helps traders to trade without fear.so it is good to apply this in the physical than making it invisible or making it to be in mind.
    Every one in the market should be able to make use of the stoploss correctly, it is one of the most important thing that the traders should get to do, which will help them become a good forex trader, mental stoploss is nothing, it is more like not using it at all and will only also get to make the trader not to be stable with their losses controlling measures.

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  10. #1639
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    There are a lot of controversy as touching the use of the stop loss to trade , some have the thought that we should be trading without it to avoid it being triggered and the price later move into the direction which trader had chosen before, but as for me it is safe to use it to avoid serious loss , mental stop loss is ore or less neglecting the rules of trading as we don't put the stop loss physically.

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  11. #1640
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    Quote Originally Posted by sameeh View Post
    mental stop is not easy to be obtained especially for the beginners that still do not know how to control their trading and how to use the stop loss properly, the trader needs to know how to trade properly to be able to know how to develop good mental stop as the trader that knows how to trade well will be able to know how to stop the bad trading.
    basically mental stop loss does not exist in the trading market to gain profit as we know that stop loss to place physical can secure our trade and avoid margin call during trading so it is very important to place a useful stop loss in every trade to minimize your risk and fix your profit as nobody can active in the platform for 24 hours to becomes useful mental stop loss in trading market.

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