Enjoy Trade with SL and TP

Discussion in 'For novice traders' started by Tengkorakfx, Sep 17, 2017.

  1. broforex

    broforex Member

    Every trader has the right to decide for himself what trading model is most appropriate for him. Whether or not to use Stop Loss. When price movements touch the lowest price limit, the system automatically closes the order.
     
  2. broforex

    broforex Member

    Before the margin is depleted by losses due to falling prices, you need to immediately close the buy position. However, if you rely on how to close orders manually, then you must always monitor the price chart continuously. So, to solve this problem you can use a stop loss order.
     
  3. liafatlouie

    liafatlouie Member

    Agreed. I'm more comfortable using stop losses than having to manually cut losses. The cut loss method is not suitable for me who has to monitor forex charts all the time. So I really need the best analysis to facilitate the trading process.
     
  4. broforex

    broforex Member

    If you specify a stop loss, the stop loss level must be at least 10 pips above or below the price level you ordered. To buy it must be 10 pips above the order price and to sell it must be 10 pips below the order price. Also the take profit distance must be at least 10 pips. If you order at Instant Execution (market price) then the minimum distance must be 10 pips from the current price.
     
    liafatlouie likes this.
  5. liafatlouie

    liafatlouie Member

    Thank you for sharing. Usually, apart from 10 pips, I'm usually at 20 pips too.
     
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  9. liafatlouie

    liafatlouie Member

    We can be comfortable trading forex if the broker's support is good and complete, all that I got from Freshforex.
     
  10. broforex

    broforex Member

    Beginners in general only imagine super-large profit opportunities without caring enough to learn how to deal with risk. As a result, their lack of knowledge in risk management causes the losses suffered to accumulate to be far greater than the benefits they gain. SL & TP is the most important thing when you trading.
     
  11. liafatlouie

    liafatlouie Member

    In trading forex, We need to understand how to properly manage risks. For a beginner, the most important point is training. At least when I started working with a broker from Freshforex, I used a demo account for training.
     
  12. broforex

    broforex Member

    It is true.. haha.. I don't know why, but the market is very strange, follow trend is not compatible anymore, we need to learn more about forex market and I think everything will be alright. don't forget to put your SL & TP point
     
  13. liafatlouie

    liafatlouie Member

    Should we trade when the volatility is high or not?
     
  14. broforex

    broforex Member

    I think Forex is still the best online business, even in this pandemic era. The real business with still make some analysis, not gambling - not a game. Forex trading is something what really happened in the world especially in economic news
     
  15. liafatlouie

    liafatlouie Member

    Agree, the forex business is proven to be able to run well despite a worldwide pandemic.
     
  16. broforex

    broforex Member

    Yes, that's why I have been trading with FreshForex for 4 years today, because I don't find another broker that give me the best promo and the best facilities like FreshForex
     
  17. liafatlouie

    liafatlouie Member

    During the pandemic, Freshforex continues to provide the best promos, such as deposit bonuses and cashback, and always gives easy withdrawal and deposit transactions.
     
  18. broforex

    broforex Member

    Besides being transparent, the forex market also has very fast transaction times. Where the forex market is done online, electronic and real time. Not surprisingly, the time needed to make transactions in the forex market is approximately 1-2 seconds to complete trading transactions.
     

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