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    Thread: Interlock's trading journal

    1. #1681
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      Stop loss is really not necessary because you can do without it, the only thing there is that you need to be watching the chart so that you will know exactly when the price is going against your trade and make plans to leave with a small loss, this is a bit complex though.


    2. The following 16 users say Thank You to Oghale for this useful post.

      bigani (04-16-2018), bocahedan (04-16-2018), FlyingShark (04-16-2018), Interlock (04-16-2018), Leonvic90 (04-16-2018), Neriah (04-16-2018), simisola (04-16-2018), theomilli (04-16-2018), Timon (04-16-2018), Unregistered (7)

    3. #1682
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      I get your point though @Oghale, but not everyone has the time to sit down with his chat and watch every move the market makes, trading like this is very stressful not even complex and you might end up doing nothing else apart from trading forex that whole dsy, although it is an effective way of cutting loss at a very good price that's If you can monitor your trades closely but if you can't then you need to use the stop loss order.


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    5. #1683
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      Well! it is true that Zigzag strategy is good for trading and we can make good profits with it when trading with small or medium time frames. But in other hand we should keep in mind that this strategy is only work for short term trading. I mean we can use it for long term trading in which we need to to hold the positions for some days or weeks. this strategy is also not useful when news hit the market because on that time all the Technical levels and Zigzag movements are weak against fundamental. So we should avoid this strategy at the time of news and close our all position before news hit the market.


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    7. #1684
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      Got stopped out!!! so what?
      I am going to trade in demo account. I love to trade in Forex market and can't avoid myself from trading. Let's see how good i am in demo account. Sis NikitaBelle is my inspiration. She still running a demo account. I am on it.

      Let's see how much i can learn from my demo account.

      1st trade of this week
      Currency- USD/CAD
      Type- Buy
      Entry point- 1.2614
      TP- 1.2685

      2nd trades of this week
      Currency- EUR/AUD
      Type- Buy
      Entry point- 1.5881
      TP- 1.5940
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      Who Is Your Creator And What Is His Intention? Find It Before It Becomes Too Late. If You Search You Will Realize That Allah Is One. May Allah Bless You.


    8. The following 8 users say Thank You to Interlock for this useful post.

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    9. #1685
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      Quote Originally Posted by Oghale View Post
      Stop loss is really not necessary because you can do without it, the only thing there is that you need to be watching the chart so that you will know exactly when the price is going against your trade and make plans to leave with a small loss, this is a bit complex though.
      Watching the chart all the time is very demanding and requires a lot of energy,i still think the use of the stop loss is the best way forward,trying to close a trade manually when the volatility is high could be quite dangerous,i remember most times even the trade platform will freeze and when it comes back all you see is margin call,so we should be careful about not using stop loss to trade.


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    11. #1686
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      Quote Originally Posted by crown View Post
      I see without using stop loss will never bring good things for us. Most of the time i loss big amount of capital. Because that time i was not use stop loss. I always thought market will come back in my entry position. But i was wrong. But i understood who can make good analysis with long term chart then he can do this business without stop loss. We already see here who are not using stop loss and i see they always make successful profit.
      That's all comes with experience and we may know with passage of time. But in start it is essential to trade with SL to overcome your loss in start and able to trade more if you suffer from some of the losses.


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    13. #1687
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      @ theomilli yes its but every trader that has the time for this but any trader that doesn't have time for this should be a long term trader because their target it stop loss can take days before its reach and there is no reason to stay in front of the pc always in as much as they have set all the right parameters. But short term or scalpers will have to monitor well their trade


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    15. #1688
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      Quote Originally Posted by bigani View Post
      Watching the chart all the time is very demanding and requires a lot of energy,i still think the use of the stop loss is the best way forward,trying to close a trade manually when the volatility is high could be quite dangerous,i remember most times even the trade platform will freeze and when it comes back all you see is margin call,so we should be careful about not using stop loss to trade.
      Yeah that is the advantage of using stop loss,we can easily leave our open position and leave it to do something else and doesn't have to worry about getting too big floating loss. I recommend using a stop loss for a trade with bigger lot size than usual and we can put off a stop loss in a trade with small lot size.


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    17. #1689
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      Quote Originally Posted by Oghale View Post
      Stop loss is really not necessary because you can do without it, the only thing there is that you need to be watching the chart so that you will know exactly when the price is going against your trade and make plans to leave with a small loss, this is a bit complex though.
      It's too risky to trade forex without stop loss, for me I think stop loss is very necessary cause no one can be 100% sure of his analysis we need to protect our account balance with stop loss because anything can happen overnight in this business, therefore stop loss should be use always.
      Why should you boast? You are not saved by your works but by the grace of God.👆


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    20. #1690
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      Quote Originally Posted by Oghale View Post
      Stop loss is really not necessary because you can do without it, the only thing there is that you need to be watching the chart so that you will know exactly when the price is going against your trade and make plans to leave with a small loss, this is a bit complex though.
      I find the stop loss important for the protection of my trading account and I use it in all of my trades, but not too close to my entries, because there is always a big change that the volatility that can come in will hit your tight stop loss and then the price will reverse again at your side. It is best to have the knowledge and the courage to cut when you understand that the price will not come back and you may lose more than you thought in the begining.


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