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    Thread: Should You Change Your Stoploss? If Yes, When?

    1. #21
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      if I think we should focus on initial planning or analysis that has been made before we trade and set a stop loss or TP, and of course we must be sure what we have planned in trading.
      But it all depends on the situation or market conditions and if we are wrong in analyzing the market we may be able to change the stop loss in the midst of the current market movement and change it we can do if we are very hesitant in analyzing the market or in opening trade positions, we must focus and concentrate on trading before we open trading positions.
      Hope this helps ..


    2. #22
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      The only time I change my stop loss is when my trade position already gained more than 50 pips then I will lock it by putting an stop loss at breakeven. This is a good way to practice money management to avoid winning trades into a losing trades. I don't use stop loss everytime I open a trade so this practice is not complicated for me. But there are other traders that uses different way of changing their stop loss either automated or manually. The common way of managing stop loss is through the use of trailing stop where it automatically adjust everytime your position gain some new pips, while other traders just move their stop loss whenever they feel like it.


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    4. #23
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      Traders in max cases used to change their trading orders stoploss when they are somewhat confused but that happens with normal traders also when we comes to know that the market may be changing its trend and may be we know that upto where that can run .But yes when we are changing stoploss ,we should always think that stoploss should cover the affordable losses .

      Traders shouldn't increase the risk too much as changing of the stoploss may be lethal here and for that we should first gain the confidence and should gather proper knowledge about the market conditions .If we are out of confusion and makes new stoploss that might be good for the trading account instead of bad and so we should take any decision which is good for our trading account .


    5. #24
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      Should You Change Your Stoploss? If Yes, When?Changing of stop/loss may be borne out of necessity during market movement by traders. It may mean increasing risk of losses especially when entry is not properly determined. Or if the assumed direction through analysis is wrong.Another scenario that can warrant Stop/Loss change is when the market moves in your favor,you decided to move your stop/loss along to guide and protect your profit.Trailing stop can serve this purpose ,but because it is programmed, it may not give you the desired result ,hence ,the choice is yours in order to achieve the very purpose of moving your S/L.


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    7. #25
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      there is no absolute thing in fox trading, the market movement often unpredictable so as a trader we need to consider this changes as an external factor and we need to recalculate and reanalyze whether our position is still as we planed or we need to make some changes, a good trade must be based on well manage risk and reward ratio and also based on objective analysis, so when we need to change our stoploss level i think it is fin thing to do as long as the trading plan said so and we need to be more flexible with the market movement and also condition.


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    9. #26
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      Though changing your stop loss is not necessarily a priority, there may be some occasions when changing your stop loss will serve a very useful function. Such instances may be when you have made some profits, and wish to protect those profits by adjusting the stop loss above your break even level.

      The same purpose can be achieved by using trailing stop, but the downside is that it works on the client side of the trading platform and can only be effective when your computer system is on and online.

      Changing your stop loss by repeatedly increasing it is a poor trading practice and should be avoided. It makes a mess of your risk and money management strategy.
      POSSIBILITIES ARE INFINITE IN THE FOREX MARKET, YOU CAN ACCOMPLISH ANYTHING !


    10. #27
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      I do not think it is wise for trader to adjust their stop loss for any reason in Forex trading because stop loss for me means the trade is not going t go in your favour again and such a trade is a bad trade if you think fr any reason you want to adjust your stop loss then it means that in the first place you did not set your stop loss very well and you are just deceiving your self.


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    13. #28
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      Should You Change Your Stoploss? If Yes, When?

      stoploss can be change change in some situation, but not when the price seems to have gone against our trading position in the market, for me stop loss is one of the important order that a trader should be always careful of where we always put it in the market.
      in a situation where a trade is already in profit, the the next think we can do is move the stop loss to probably break even, this way we move the stop loss to the entry point whereby if the market seems to pull back very fast we wont have to loose a dime to the market.
      but if a trade goes against us, i think its always better if we can try as much as possible to accept our loss, even if it is difficult we still need to accept the loss and move forward.


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