Mental Stop Loss, How does it work? - Page 3
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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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    Quote Originally Posted by ola4real View Post
    There is nothing like mental stop loss, i don't know how traders will say they are wise and be using the mental stop loss, they can be emotional at times and they will not be able to do what they have planned to do with that mental loss. There are some things i don't like to hear at all, our forex stop loss suppose to be physically seen at all time, and when we want to adjust it we have to have the good reason for doing that too.
    I am reading about the mental stop loss for the first time here. I don't know if this trader fabricate it or not. All I know is that this can not be good, traders have to go for better method to trade their stop loss than to think that they will know it with mind, what if something bad happened when the trader want to later put the stop loss? We can do better by avoiding this mental use of stop loss.

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  3. #22
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    You want to say that we are not use stop loss in trading but we must keep in our our stop loss and when market is reached to that point we can close our trades. The most important thing for traders to choose a best trading trading strategy and if you are make good trading strategies then you will always make money on your trading.

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  4. #23
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    It's important to use stop loss but not necessary that we must apply stop loss Always sometime we can decide to close the trades manually ourselves, it's not necessary that we must use stop loss always though the market is risky and it's necessary for us to use a good risk and money management to protect our account from unnecessary losses.

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    It is always good to plan your trade when you have a good setup before you to trade and make sure that you use protective stop loss which agrees perfectly with your risk management plan . Trading without using stop loss would only bring you to colossal loss and failures in forex trading and you will never see any professional trader taking such a risk of taking position without using stop loss because they know that anything can happen in forex trading

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  6. #25
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    Stop loss is important for us and its does not matter its mental stop loss or simple stop loss. Mostly traders are use the best trading strategy which help traders to earn but risk is become small only when traders are use suitable stop loss on their trading account. Its does not matter which way you are use stop loss its always help you to earn profit on your trading.

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  7. #26
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    You should make use of stop loss manually using stop loss isn't a good idea because you won't be able to watch the market at all time so the best way we can manage the risk very well is using stop loss this will help us to protect our account from unnecessary losses at anytime. it's not safe not to be using stop loss always.

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  8. #27
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    Well, using mental stop loss can be really terrible especially for those that are using this without discipline, I hate it when I have a margin call, that has happened to me in several occasions, the reason I can attribute is lack of motivation for using stop loss, I felt like the market will always work on my side, but however I got beaten seriously, I am wiser now and much more better.

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  9. #28
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    Quote Originally Posted by Eneregha View Post
    You should make use of stop loss manually using stop loss isn't a good idea because you won't be able to watch the market at all time so the best way we can manage the risk very well is using stop loss this will help us to protect our account from unnecessary losses at anytime. it's not safe not to be using stop loss always.
    That is one of the point why the traders always need to make use of the stoploss when trading. The market can make some big move in some few seconds and with such movement the trader might be a deep losses which could have been avoided with the use of stoploss. So, therefore we need to know how to make good trades in the market to avoid losses that could take all our trading account.

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  10. #29
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    The mental means could work for sometime but not always because we can't watch the chart while are asleep, so it's impossible for the mental means to work as close to as using stop loss in the trade, the best mean to manage or protect our investment is for us to make use of stop loss most of the time, using the mental means can't work as we think or thought in our mind.

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  11. #30
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    There are rules and we should make sure of keeping to the rules, if we are not keeping to the rules, it could lead to losses in the market. To that, there is no need making use of the mental stoploss, just place it as I see it is still the same thing. In a nutshell, you could get emotional and then forget to place the risk stoploss and then keep on shifting it in your mind and then hoping the market gets to your direction.

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