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

    1. #11
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      Using the stop loss is highly essential because it enables the trader to limit his losses and protect his account from further losses. If you are trading without a stop loss, it's suicidal because forex trading can be unpredictable and when the market goes against at a wider margin and you do not have a stop loss, then you will end up incurring a huge loss and this is very painful. No matter how profitable your strategy is, once you trade without stop loss, you are putting your account in a risk of getting a margin. I can remember a few years back when I was trading without stop loss, initially I was making money consistently because the strategy I was using was a good strategy but when the strategy went wrong due to change in market conditions, I started losing my profits and before I know what happened, I lost more than 50% of my capital and since then, I vowed never to trade without a stop loss.


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    3. #12
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      In the Forex market stoploss and take profit are very important because they are having their own importances in this business ,actually we use the take profit tool to get our planned pips number and the stoploss is used to protect our trading accounts from the sudden negative movement pips and like that we can lose the amount which we can afford to .

      Traders have to be very much calculative in this type of issue because its not possible for us to be always infront of the chart and for that these kind of tools helps a lot to the traders to fulfill their desire and plan so that in favorable as well as adverse environment ,we can hold our strategy and plan in a perfect manner .To be accurate in such issues ,we have to be experienced and skillful so that we can deal with the market very well.


    4. #13
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      Take profit are important when it comes to the forex market, it it's not mandatory, we can decide to use the take profit and we can decide not to and later going on to take our profit manually. Most especially for long term traders.

      Bit when it comes to stop loss can't afford not to use the stop loss even for once as it's very dangerous, in the market protecting our account is much more important than going for profit, so we can't be reckless with stop loss. And stop loss can be used in several important ways, can be used to protect our profit and so is protecting our capital.

      So for me I found the stop loss more important.


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    6. #14
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      For traders both beginners and professionals, it is very important to limit risk, because in relation to this trend, anyone never knows when the trend ends
      To anticipate losses for those who are part time trading usually puts stop loss and sometimes they don't take profit because they might exit the market too quickly.
      I think stop loss is very important and should not be underestimated, if we neglect to be very fatal as a result and threaten your account, stop loss placement itself should be estimated at certain points, for example right in the support or resistance area. Don't be too close to Ask or Bid.
      Depending on your taste, maybe for those who like to trade long time, they don't even place stop loss and take profit, but can be profitable for those who are already professional.


    7. #15
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      Stop loss has its purpose during forex trading and so do take profit. Choosing one in place of the other is not ideal. They are both needed for the purpose of enforcement of good risk and money management in the forex market. In other words, they are both important.

      It is necessary to specify a suitable stop loss level in order to protect the forex account in the event that the price moves against your trade. This will enable your account to survive longer in the forex market. Take profit is essential for locking in profits at a certain price level. This is to prevent such occasions that the price retreats after having reached the level you would wish to take profit, and sometimes later becomes a losing trade.
      POSSIBILITIES ARE INFINITE IN THE FOREX MARKET, YOU CAN ACCOMPLISH ANYTHING !


    8. #16
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      Take profit and stop loss have equal implications and value in the Forex market, the ones cannot be preferred over the other, because there will always be two outcomes that will be experienced as we trade in the Forex Business, although sometimes we may fail to use the stop loss, in the real sense what we are doing is putting our account in serious danger to margin call.

      Uses And Applications Of Take Profit
      1. We can use this to determine how much we want to make during a trade.
      2. It is used for exit in the event that our predetermined target has been activated.
      3. Helps in the growth of our trading account with consistency.
      4. Adds to our confidence as we see additional amounts in our trading account.
      5. Takes profit gives motivation to be patient and analyse properly before we trade.


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    10. #17
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      Which is the most important for a trader - stop loss or take profit ?
      I'd say that stop loss is the most important, although the way you frase the question makes me not able to answer this really. Are we for example talking about forex? If we are talking about forex then it is absolutley true that stop loss is more important. But if we are talking about investing in other instruments that have actual bottoms that are not "very far" away then it could be said that stop loss is not all that important.

      Let's have an example.

      If we are trading forex here on instaforex.
      We buy 1 lot in EURUSD and we do not use stop loss at the price of 1.3811, this means that we need to have about 100 dollars in that account for a move lower of 100 pips but look at that number where we bought it there is more then 10 000 pips there that the position could fall.

      Let's compare to a normal example of stocks.
      We buy 1 lot of apple at the price of 250, here we only lose at the most 250 dollars. Sure depending on scale but this is a normal example. Here we can only lose the amount 250 and it is not even in the same range of danger as if we where to trade Forex in the above example. With trading stocks then we could use a take profit only and aim for 5, 10 or 20 points of profit (it is only and example).

      If we only use take profit when trading Forex, sure we can win often if we aim for 5 pips, but when or if we are wrong then the downside is so large that it would probably wipe the entire account out.


      Bottom line:
      USE STOP LOSS !!

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    12. #18
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      Take Profit and Stop Loss are very important but you need to plan what you are doing in the forex market, if you can imagine a forex market that does not have any of these two ingredients then i am trying to wonder what we would be doing with trading, sometimes human can be very funny, i know that if it was possible that there was no take profit and stop loss in the forex market, many of these same people would have complained about the unavailability of these functions. Trading with the Mindset that either of them is needed while the other is not does not make any sense, you will not be doing yourself any good by doing that. So for your own good, please take both of these factors very importantly.


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    14. #19
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      Stop loss and take profit both are important part of forex business. Stop loss means when a trader open his trade then if the position goes against him , trader set a price from where the trade automatically close with loss. This position is called stop loss. On the other hand take profit is a position which is used for getting desire profit from a trade set up the trader. take profit or stop loss help us to trade well. We do not need to sit on the computer or laptop for watching market. If we can set the position automatically our trade close if it comes stop loss position or take profit position. We also can relax when we are in others work. I always use this option and get good result.


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    16. #20
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      As a trader who usually don't use stop loss then I can easily say that take profit is more important to me. My trading system is designed not to use stop loss because it can ruin the winning potential of my trades and so far it's working for me using good money management. While there are other traders who meticulously measure their stop loss due to overtrading or using of high lot sizes in scalping. Whichever trading strategy we choose as long as it's profitable then that's all that matter. These debate regarding to stop loss and take profit will be judged on how good the money management of a trader in order to survive this market.


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