Mental Stop Loss, How does it work? - Page 203
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Thread: Mental Stop Loss, How does it work?

  1. #1
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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. #2021
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    Mental stop loss will never work if you have a better experience of trading forex you will realize that mental stop loss won't do you any good but rather will make you lose money. Mental stop loss is not good so you shouldn't engage yourself in such act, if you really want to protect your capital stop loss is what you need to learn how to use.

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  3. #2022
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    From all what I have learned, it is either the trader have learned and know how to trade with the use of risk management or they apparently, trade with wrong trading risk management while they face the possibility of blowing their trading account and having a lot of losses to deal with. Therefore, I will better prefer that I trade with the use of the stop loss in place on my trade.

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  4. #2023
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    Quote Originally Posted by jassim View Post
    Mental stop loss will never work if you have a better experience of trading forex you will realize that mental stop loss won't do you any good but rather will make you lose money. Mental stop loss is not good so you shouldn't engage yourself in such act, if you really want to protect your capital stop loss is what you need to learn how to use.
    Yes, mental stop loss can not work because traders trade with leverage and losses can increase very quickly if market goes against trader. Real stop loss should be always. The other thing is that traders do not know where to place stop losses and they place them in wrong places. Traders should learn how to place stop losses in right way.

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  5. #2024
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    Quote Originally Posted by jassim View Post
    Mental stop loss will never work if you have a better experience of trading forex you will realize that mental stop loss won't do you any good but rather will make you lose money. Mental stop loss is not good so you shouldn't engage yourself in such act, if you really want to protect your capital stop loss is what you need to learn how to use.
    The mental stop loss is not what i will like forex traders to be using for their trading. We can get to trade badly due to the trading of the mental stop loss, we can never get to trade successfully if the account is not protected enough. I know that the forex traders who wants to use the mental stop loss have it in mind to use the stop loss, but using stop loss like this is not so good enough.

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  6. #2025
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    Mental stop loss is used by traders who do not want to place stops directly on their trades,they prefer to instead have a mental picture of where the stops should be and they tend to close when price get to that point,but sometimes due to one reason or the other we might not be able to close the trades where we want.

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  7. #2026
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    I believe in trading with proper stoploss because it is way for us to trade very safely , if there is no stop for trader then we most of time face big losses we have to learn properly build our trade ideas well and make good plan with them , the whole lot of efforts will give trader opportunity to earn safely from this market and face minimum risk .

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  8. #2027
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    Using stop loss is very necessary in our trading success because it is the most secure way to do trade in the market and most of time we are use it or any high impact events. Same like today's big event which will be released from American sector that fed will release their interest rate season so in this situation we have need to use must stop loss.

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  9. #2028
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    Mental stop loss is very possible in forex market because we can trade the market anyhow we understand it. But the problem with such trading system is that such a trader must have to baby sit such trading system each time there is an open position in the market . I can not imagine any trader using this system going away when there is an open trade because anything can happen in the forex market at any time.

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  10. #2029
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    Mental stop loss is not a good idea for traders because its like you are not use stop loss. You cannot not online all the day on market and if you are offline and this market is move against you then you can lose all of your investment. So its good for all of us to use physical stop loss in trading which is help us to save our account investment in case of market move against us.

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  11. #2030
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    There are so many traders that are working a lot size earning method because they are expert in the trading , we easily earn a lot of money when we use the best technique . we easily mental stop the loss . i know well how these traders work in the trading , and what is the method of these traders .

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