Stop loss 10 pips or 30 pips?
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    Stop loss 10 pips or 30 pips?

    It is very significant question how to place stop losses. How long should they be? There are simple advices. :

    If we use to go with trend so stop loss should be about 30 pips as there are corrections during the trend that can execute our stop loss and if the correction is too large so there can a reversal of trend.

    If we are going against the trend so our stop loss should be as little as possible 10 pips only. Usually the trend goes far and we can have large losses. But if we try to catch the correction of the market or reversal of trend so stop loss with 10 pips will be the best way to escape larger losses.

    Traders can write cases about placing stop loss from their practice here.

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    Registered user simpleman's Avatar
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    The use of stop loss is very important but traders should put it in an appropriate place so that it would not be triggered by price and later face our previous chosen direction, likewise stop loss should be determined well even before placing the trade order, we have to calculate our risk to reward ratio so that the stop loss would not be bigger than the gain we are expecting in our trade.

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    i do not like to set stop loss only 10 pips because it is easy to hit and let the trader to get unnecessary loses, so using of 30 pips as stop loss is better as this will make trading better and the stop loss will not hit quickly or continuously and let the market to have wider range to move on and so the possibility of earning will be increased always

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    Rookie tfs2012's Avatar
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    You can not, you just can not set the stop loss this way because it depends on the strategy used and the entry point(there is no fixed numbers of pips)
    The simplest way to determine a stop loss is to find the nearest support or resistance level according to your position and then place the stop loss above or below it

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    Trader sniper007's Avatar
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    To me and then my best of knowledge and how I trade. I don't make use of the pips in calculation of my stoploss, so in a nutshell, what I make use of is the candle stick size that has formed the signals, I make use of it in making good money and risk management measures and then knowing the amount I am willing to loss and then where to place my stoploss.

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    Rookie layigold's Avatar
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    There is no hard and fast rule as to how to place protective stop loss on a position because that has to do with the styles of trading and trading strategy being used .If I am to trade a bullish pin bar , my protective stop loss is always few pips below the tail of the pin bar . What is most important is the effective use of the stop loss to the advantage of the trade taken

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    Last edited by layigold; 09-16-2018 at 08:52 PM.

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    A good strategy doesn't have a fix stop loss in all trades, stop loss levels is place base on what you have seen in the charts, if you use a fix stop loss believe it will be against you most of the time because it's means you didn't analyze the market chart before using that stop loss, for stop loss to be in our favor we need to place it base on our analysis and what we saw on the chart.

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    I use the candle stick pattern and then another thing that determines the level of my trading pips level is when I have been able to use the risk percentage in trading. I don't like trading with the use of pips in stoploss due to with the candle, I get to be sure of where the market will move towards. Therefore, it depends on the percentage I want to risk.

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    Stop loss should not be about 10, 20 or 30 pips in forex but should be placed at a very strong and comfortable point where we can have possible advantage in the market. That's why a good candlesticks pattern knowledge is necessary because for an example, if you are following a bullish trend which is making higher highs and higher lows, it will be good to buy at higher lows and place your stop loss 2-5 pips down from your entry. You see in this case it's not about placing 30 or 10 pips stop loss but placing them at the right areas.

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    We can not giving you right answer that how many pips good to place stop loss they are giving us good results. It depends on market direction that at what point you are place your order and what will be the good place to add stop loss in your order. To know that where to place stop loss correctly you have need to learn a proper trading strategy it will help you to place take profit and stop loss correctly.

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