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    Thread: Which is the most important for a trader - stop loss or take profit ?

    1. #31
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      Default

      Forex Trading is a real business and everything is depend in traders. Nobody can suggest a trader to take a specific step in this business. Both tools are optional for us and we can use them or not without any problem. Everyone has his own way of trading.

      Some traders depend on Technical levels for trading and most of them use Take Profit and Stop Loss in every trades because they are totally depend on it. Many time they are away from their trading terminals and in these kind of situations their positions close automatically.
      In other hand there are also many traders who don't like to use these tools because they want to make as much as possible profit. They also not use Stop Loss and their theory is to hold the positions for long time if they are in floating loss and when market start moving in their favor then they close their positions with profit.
      Both ways are useful and it is totally depend on us that how we handle these tools.


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    3. #32
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      Default Re: Which is the most important for a trader - stop loss or take profit ?

      using stop loss and take profit are both very important in the Forex market, for me we cant afford to do without the two in the Forex trading market,
      stop loss: this is a market order that tells the market that when our loss has reach a pre-determined price that the order should be close
      take profit: the tells the market that when we have acquire profit up to a certein pre-determined price in the market, that the order should be close..

      and as we all know know in the forex market its always important to put our account safety first in every situation, so this is why many traders prefer to take the stop loss more important than that of the take profit. so i think the stop loss is the most important.


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    5. #33
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      Lightbulb Re: Which is the most important for a trader - stop loss or take profit ?

      A stop loss is a level in the market where a trader sets to be exited automatically when price moves against his predicted direction. A take profit on the other hand is the level a trader sets to be automatically exited when price moves in his predicted direction. Stop loss is needed because it limits a trader's loss. It also helps to determine a take profit when a trader is aiming for a particular ratio in his trade. A stop loss is also used to determine what a trader is risking. The gap between the entry price and the stop loss is know as the risk. Such a risk will then be used to determine the ratio of reward a trader will aim for---be it a 2 reward, 3 reward, etc.

      A stop loss can also be used as take profit. When a trader moves his stop loss in rhythmical direction price moves he can use it to lock some ratio of profits and in the eventuality of price reversing, he will be taken out with some profits.
      Therefore a trader should first of all know the usage of stop loss first, he can then use it to learn the usage of take profit. Stop loss and take profit are thus both important for a trader to learn and use.


    6. #34
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      Default Re: Which is the most important for a trader - stop loss or take profit ?

      Quote Originally Posted by newdream365 View Post
      what is the most important for a trader use stop loss or take profit??
      The most important thing on between stop-loss and take profit is stop-loss because if we put proper stop-loss is it help is to saving our account while take profit is our profit and any time when we feel it enough then we easily close it.


    7. #35
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      Default Re: Which is the most important for a trader - stop loss or take profit ?

      Quote Originally Posted by newdream365 View Post
      what is the most important for a trader use stop loss or take profit??
      Stop loss and take profit both are useful for the traders because when you use stop loss for your trading your trade will never goes in big loss and the trade will automatically cuts when it hits the point of stop loss and your account will safe from big loss and take profit is also so much useful because some times you are not watching the market and your trade and your trade is gone in profit and then you dont see the trade and suddenly market has change its trend and if you use take profit then your trade will hit the take profit and it will be automatically cuts so always use stop loss and take profit whike trading


    8. #36
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      Default Re: Which is the most important for a trader - stop loss or take profit ?

      I think that using both of stop loss and take profit are very important tools in the forex trading market, but most of traders think that stop loss is more important than take profit because:

      Importance of Stop Loss:
      1) Stop loss always have to use to reduce the big losses.
      2) Stop loss helps the traders to close trades with small lose when the market moves reverse the right directions .
      3) It is used to follow the good money management and teh low risk .
      4) It is used to follow the discipline rules to get success and to survive in this market for a long period.
      5) Stop loss protect the account when the market becomes very volatile during the news time.

      Importancy of Take Profit:
      1) Take profit helps the trader to close the trade on a specific target while there is the strong reverse for resistance or support line.
      2) Take profit helps us while we can not stay infront of our computer and it is not possible to stay to observe our trade.
      3) Take profit automatically close at the certain level and help us to make some profit.
      4) It is mostly used in scalping strategy trading or short term trading.

      So, we can say that stop loss and take profit both are very important for the traders and both helps to make more moeny and to survive in this market for a long time.


    9. #37
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      Default Re: Which is the most important for a trader - stop loss or take profit ?

      Stop loss and take profit can be very important when it comes to the Forex trading, but most traders to use the stop loss rather than making use of the take profit, when they know they can always take their profit manually in the market.
      As we all know the stop loss is used to protect our capital from massive loss, stop loss can not stop us from loosing we need to note this. but with the use of stop loss we can have rest of mind that are account is safe from massive volatile market.
      take profit also is important in a situation where we are not around to manage our trade, but personally i dont make use of take profit, . but in a nutshell, i think stop loss is the most important.


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