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    Thread: Do you use stop loss as stop out?

    1. #1
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      Default Do you use stop loss as stop out?

      The question is fairly simple. You can either use stop loss as a tool or have enough money for that one trade and use that amount of money as your stop loss and stop out level.

      Why would use use it as a stop loss or why would not? Looking forward to your answers.


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      I have 3 uses of Stop loss in my trading.

      1.) I used Stop Loss to limit my loses, for example, I only want to lose $2 for every trade and I set my SL where it was supposed to be.
      2.) I used Stop Loss to move my stop to break even or move my SL above 20 to 30 points from my floating positive trades.
      3.) I used mental Stop loss, some call it manual stop or SL that only get activated if my brain says so.
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      Default

      First many many thanks dear dzin4aans sir because it's very important question for all.
      I think stop loss very important key in Forex business because stop loss can protect our invest and account both. I think in Forex business simple mistake can bring big loss and margin call both but If we can use stop loss then we can survive our account easily.
      I am try to use stop loss on my open position and I think everybody should try to use stop loss and properly follow all Forex rules before open position in Forex market other wise we can'y survive our account. Thank you.


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      Default

      Yes, I did. I want to use my full money in the account to avoid stopped out. Some time it work for me. Sometime it don't. Actually I don't use stop loss in most of my trades. I use it only when my trade in 20/25 pip profit. I set the SL close to my entry so that even if it get hit I end up with some profit. I generally used it when I am trading in big volume or in some tension of losing big money due to some big news.

      There are two scenario for using SL or stopped out:

      1. You can use all your money for a single trade without placing any SL.
      2. You can use SL for a every trade so that you know how much you may lose in a trade.

      My advise: Keep good money in your wallet, use no SL, if you fell that your trade can end in profit but close to stopped out you can make some deposit as if you have opened a new trade. But don't open a new trade after new deposit. It can lead to more lose and I am telling it from my experience.


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      Default

      Quote Originally Posted by dzin4aans View Post
      Do you use stop loss as stop out?
      I use a form of stop loss.

      Personally the stop loss is used, but as i often say when talking about my hedging system this stop loss is made up of a reverse pending order. It acts in a similar way though.
      If we would talk about using the stop out as a control method then that would be another thing though. I have seen people doing this but i do not think that is "trading", since the trader there would be risking the entire account. Maybe that trader is using a "non-zero" account that cannot get negative equity but then again maybe not, many people do not know that brokers exist that have this feature or even that it is possible for a trading account to end up with negative equity.

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      Default

      Firstly the stop loss is a very important and also a very popular tool used in Forex trading to control losses and loss amounts in our account. I use a stop loss for every single trade that i opened and this is because of the fact that i know it is important towards success in Forex. I advise Forex traders that they should use only stop loss and trailing stop loss as the only tool to protect their account from losses.


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      Default

      Thread closed as the contest has ended..


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      Yes i do, i use stop loss as stop out, i use stop loss option in my own trading journal, each order position i have i must put the target of stop loss. With this way i can avoid the unexpected price gap or even high impact of news released. To limit our loss from more losses the best option and my suggestion is try to always use stop loss. We never know what will happen in Forex trading in the future. If we do not have the way to handle or reduce the risk of loss, no need to ask what will happen to us, the disaster will come easily and faster we loss all investment we have.


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      Default

      Stop-loss as stop out is common among traders, I have no doubt that it is the reason why many don't always succeed in this business, what is a stop loss by the way, it is a functionality that allows the forex trader to determine when he will leave the market should the conditions of trading becomes unfavourable to him, this means a fraction of the account which is ideally supposed to be small is lost, that is like a sacrifice to save the rest of the account.

      When the entire account is used for this purpose, it just means something is wrong with the mindset and approach of the forex trader, he does not respect money management and have zero tolerance to the use of small lot, the results could be catastrophic. Keeping your account from any drawdown is your responsibility.


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      Default

      I use stop-loss orders as a risk management tool. For me, a stop loss order serves to protect my account against worst-case scenarios - the prospect of blowing up. I have developed an algorithm that I use to manage my risk; stop loss is one of the inputs in that algorithm, but it is by no means the most important input.

      In my algorithm, stop loss serves to close, either partially or fully, an open position when intraday volatility overshoots the average volatility for the past one month. However, I do not rely on the stop loss order to manage my trades tactically. For that purpose, I make use of hedging and position sizing. As part of my daily tactical requirement, I do not risk more than 2% of my account on any trade.


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