how to apply stop loss and take profit on open positions?

[Mkape]

When we are taking positions we should first see that the stop loss should be placed in such a way that we don't get stopped out by price spikes,also we should consider the amount we are risking ,the less the stop loss the better,support and resistance levels are the best places to take positions and stop loss above resistance for sell positions and below support for buy positions

[earth09]

maximum time i take a bye order so i set a stoop loose where have a last support point because if any way move support point then have a huge chance to going over down but averagely i take 30pips for stoop loose option.

[kalinyamat_army]

it is a good idea to try it out so we can determine how many pips that averagely have in a pair that we will going to trade with. Its really significant to know this in this way we can make our own take profit and stop loss which will be suitable to the pairs since not all have big movements like the major pairs.

[indo_milanisti]

to determine the stop loss and take profit to me is the note on resistant and support point, if my order is a buy then put the sl on the support and vice versa with take profit, if we choose to sell then install sl, at the above resistant, because usually the price movement will be completely the opposite when it able to penetrate the resistant support

[ephrath06]

Normally I go for pips. I will set 50pips for stop loss and target profit. I will let them close position by themselves if I couldn't monitor the trades. Sometimes I will manually close it if I make some profit even though it did not reach the TP.

[peyekiwak]

i want to apply stop loss and take profit on my open positions...but i do not know that how to calculate that how much money i will loose if i apply at a certain level

i think it depend on your strategy and depend on market pair that you trading on...
generally.. trader using 30 - 50 pips for SL and 20 - 30 pips for Take Profit..

[kalinyamat_army]

If you do a technical analysis, you can set TP and SL support and resistance points. But you have to know the trend. Or you can try a few key figures, such as the reasonable control of beginners.

[Stockwalker]

Simply right click on the opened position, and you are good to go - just enter the SL and TP in price format (not pips).

[techboy]

Normally I go for pips. I will set 50pips for stop loss and target profit. I will let them close position by themselves if I couldn't monitor the trades. Sometimes I will manually close it if I make some profit even though it did not reach the TP.

I maybe a good approach but it would be better if we increase the risk reward ratio a little bit, because 1:1 R/R will only be good if we have a high winning percentage.

[siberian]

Simply right click on the opened position, and you are good to go - just enter the SL and TP in price format (not pips).

Yeah, it's simple to set SL and TP point but it's hard to put it in the right place so SL won't be easily hitted
and TP could maximize profit to gain in one transaction. It will be better if we used SL and TP in every
transaction that we made.