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    Thread: Which one you choose, waiting for stop loss or cut it out manually?

    1. #11
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      We all know forex trading is risky business. Anytime it can changes its direction for move. Before open our trade we can analysis the market but after running trade it can change its direction or path. So when we open trade we can set our stop loss and take profit. but after running sometime if we do not get good move of the pair then we can close our trade manually with some profit or taking some loss. because if we think this pair move is not so clear and we can make big loss in this pair.so little loss is good than big loss. so in this point of view if we close the trade manually it will wise decision. I close the trade manually and also hit take profit or stop loss. but all are depend on market movement and condition.


    2. #12
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      The development of bad trading habits for traders starts from a very low level and then as time goes by it grows into something very monumental to the extent that we cannot have control over it anymore, this market is about discovering what you can earn as you apply discipline, if it is now a matter of closing trades consistently, you are going to find yourself in an automated situation that losing will be very difficult, the forex traders that have been in this market for years understand certain risks, someone who has been trading will not make certain mistakes, you can become someone that has consistently lost money when you don't use money management. Take time to learn before you trade.


    3. #13
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      When trading in the market, it's true that many traders used to find themselves contemplating in this situation which I believe it's an unnecessary contemplation, before we open a trade, we must have based the position on a plan, and our plan is always include the stop loss and take profit, we don't just set up a stop loss at any price we do so based on the technical analysis either we put the stop loss at a resistance or significant support area or other possible reversal area, its a a trader without a plan that set stop anyhow and this attitude sometimes is what brings uncertainty trading.
      If we set up a stop loss with a solid plan and a good trading strategy with good money management then we have nothing to worry about.


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    5. #14
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      Every analysis performed (or strategy) at one point or the other will spell out the stop loss and take profit which vary with the time frame in use.This implies that one of it should be hit (either the stop loss or the take profit after which one has to wait for another opportunity.At the same time,if one observes all the conditions attached to the position taken or opened,it is possible for the signals or the conditions to point to another direction (if one is on long then it may change to short) before the trade hits the stop loss and in this case it may be wise to close the trade rather than waiting for out to hit the stop loss.I summary as long as the conditions attached to the signals are still intact I will wait for the trade to hit the stop loss but if the conditions or the signal has changed I will not wait for the trade ti hit the stop loss


    6. #15
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      Which one you choose, waiting for stop loss or cut it out manually: There are no hard and fast rules when it comes to the Forex market, you can decide that you want to close your trade yourself because the condition of the market has changed, but that could make you regret because the market can inevitably move in your direction unrelated to what you think, waiting for the stop loss to be trigger is better because then you will be able to understand the real performance that your strategy can give, but in the circumstances where it becomes a habit that you close your trades manually, that can make you lose your account which is normally something that we should not take for ourselves. Someone that has the basic understanding will do things differently, this because we are not trading with the best intentions. We should not understand anything that cannot be gained.


    7. #16
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      As long as you are serious about applying good risk and money management, then you need to set your stop loss as well as take profit levels, so that the market will automatically take you out when either level is reached. This will avoid a situation where the market volatility or network issues may not permit you to react sufficiently fast enough to take action at the critical moment.

      However, there are times that you may wish to manually close a trade. Such trade may be a profitable one that you discovered that the price has initiated reversal, and you have to manually exit to conserve your profits. It may also be that the price decided to go the wrong way before you can make any profits, you may also manually close the trade in such situation.
      POSSIBILITIES ARE INFINITE IN THE FOREX MARKET, YOU CAN ACCOMPLISH ANYTHING !


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    9. #17
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      We know that when the traders trade in the forex market then some traders use stop loss to close with some losses or some traders cut their trades directly with losses. In this aspect I always follow the market and analysis with technically what can happen next time. If I see the market can move against my trade then I close/cut the trade quickly with losses. Otherwise I use stop loss with some losses. Mostly I open more trade which is harmful to success but I can always predict the market appropriately.


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