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- moneyfx advance
Offline - Registered: 10/01/2013
- Posts: 109
MOVING STOPLOSS TO a more appropriate position
We have been trained many periods that moving your stoploss when you see that it is about to be hit is never the best choice.In our dealing encounter when we look at our business whose stoploss is about to be
hit perhaps about 5pips away,we may find out that normally evaluating from the chart(not our feelings of not seeking to loose)we should have placed the stoploss somewhere else.What should be our response?is it better to allow it to be hit or basically shift it to the appropriate place?
- Bruce Reid
- moneyfx advance
Offline
- From: Pakistan
- Registered: 2/14/2015
- Posts: 282
Re: MOVING STOPLOSS TO a more appropriate position
Stop loss is a very handy tool, if we use it wisely but if we don’t have skills to use it proper then it can lead to massive losses. The reason I say losses is that often people place it anywhere without plan, that’s why it gets hit too easily while sometimes even brokers do manipulation or desk dealing.
I have enough experience so I can use stop loss tool very well while I don’t even have to fear of manipulation or desk dealing because of working with a top class company OctaFX, it is definitely one of all time great broker. Also, they have got excellent cTrader platform where we can use all these tool easily due to been upgraded!
- Chris Adams
- moneyfx advance
Offline
- Registered: 2/21/2015
- Posts: 112
Re: MOVING STOPLOSS TO a more appropriate position
Right usage of stop loss can be seriously handy, but of course it’s not straight forward to do this since we need plenty of experience and if we lack that then we will struggle. I am lucky that I am having Quality Company like Nova FX, it has epic education section, so I can learn everything including using of stop loss and that is the reason why I am successful and I believe that without proper education success is nearly impossible for anyone.
- Karisen Tayler
- moneyfx advance
Offline
- Registered: 7/15/2015
- Posts: 84
Re: MOVING STOPLOSS TO a more appropriate position
Stop loss might look a very small tool, but I believe it is one of the best things to help us making solid money, if we are not using this wisely then we will struggle only, but if we use the stop loss in correct way then we could be making some serious cash with having to take minimum risk. Also, if we know to use stop loss correctly then we could be far more aggressive then normally, it is because of losing been minimum while winning can be really high. I am already in ideal scenario with OctaFX broker with their rebate program that helps me earn 15 dollars profits per lot size trade even on the losing trades too.