Erin
Familiar Face
Stop loss is very essential for forex traders, you must know and learn how to use stop loss, because it helps you to minimize your loss during trading. It is very important in forex to know about stop loss.
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Actually I'm still leaning how this stop loss work and make profit works with a demo account. But I think the lower your stop loss is the lower your loss. But stop loss is crucial even though is meant for beginners.Their are people who doesn't use stop loss to trade and some use it too to trade. Stop loss is necessary in ones forex trading career, in order to cut down the losses anytime you find it unfavorable trading. I never used stop loss before I'm still undergoing studies to trade with what is necessary in order trade to gain profit.
Do you make use of stop loss during forex trading? share your opinion about how you make use of it to trade, thanks.
Stop loss can be a strategy to reduce loss as well as it could be a tool to prevent profits. After the basic technical analysis and it’s apparent enough that the market is bound to take a bullish trend, so you buy, it could still make some retracements before finally going in your predicted directions. These retracements sometimes lasts too long that most traders readjust their stop loss to cut trade too early and miss out on the profits.Their are people who doesn't use stop loss to trade and some use it too to trade. Stop loss is necessary in ones forex trading career, in order to cut down the losses anytime you find it unfavorable trading. I never used stop loss before I'm still undergoing studies to trade with what is necessary in order trade to gain profit.
Do you make use of stop loss during forex trading? share your opinion about how you make use of it to trade, thanks.