How to use Stop Loss Take Profit Strategy?

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How to use Stop Loss Take Profit Strategy?

• Theforexsecret.com

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Introduction

•  
• Some people say we should not use stop-loss
  because it is a sure loss. The meaning of their
  word is if you stop loss which means you are sure
  to incur a loss.
• Some say suing stop-loss expose you to the
  brokers who hunt your stop loss and you are
  surely going to lose your money. Some other
  people say operators know where your stop loss so
  ultimately it hits the point.
• Trading in the Forex Market is like driving a
  car. In a car, there are many indicators in the
  dashboard for fuel, for mileage, indicator but
  none of these work if you do not know how to
  drive the car. In trading, many people use many
  things.
• For example, some use Fibonacci, some use
  support and resistance, some use trend-line. In
  driving what helps you the most is your
  directions, brake, accelerator nothing else. Same
  like in trading there are only a few things-
•  

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To Buy and To SaleTo Long or To Short You
want to do Short or LongWhere you will put your
break means where you will put your stop
loss.Where you will put your accelerator 

• Trading in the Forex Market is like driving a
  car. In a car, there are many indicators in the
  dashboard for fuel, for mileage, indicator but
  none of these work if you do not know how to
  drive the car. In trading, many people use many
  things. For example, some use Fibonacci, some use
  support and resistance, some use trend-line. In
  driving what helps you the most is your
  directions, brake, accelerator nothing else. Same
  like in trading there are only a few things

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The most crucial problems happen with small
traders. Because they do not close stop-loss.
They take a big hit, incur a big loss and their
account becomes zero but in Take-Profit they make
50 they become happy. That is the problem with
traders they use Take-Profit but they do not use
Take profit. When you let your loss to go
long and do not allow your profit to go long, it
creates a big problem which does not allow retail
traders to come in profit. On the other hand, the
person brought the idea of Stop-Loss and
Take-Profit are a little bit contradictory.
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Dont say Stop Loss says Save Capital   Stop
loss itself is a very negative word, it reminds
you that you are in loss. It downgrades your
trading Psychology. On the other hand what stop
loss does? It actually saves your capital. Save
Capital helps you to encourage you to save your
capital in Micro and macro Levels. It gives a
positive outlook toward stop Loss. 
Dont say Take profit  say Stop Profit   Take
Profit sounds very amazing. That is the reason
why 90 of people use take-profit but do not use
a stop-loss. Take-Profit is too positive to be
true.
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Dont say Take profit  say Stop Profit   Take
Profit sounds very amazing. That is the reason
why 90 of people use take-profit but do not use
a stop-loss. Take-Profit is too positive to be
true.
When you use take profit, you literary stop
making a profit. In Long-period you stay in a
loss but when you enter into profit, because of
your greed you stop it. You made the correct
decision but suddenly you change it. For example,
you bought bond and the price is increasing day
by day, will you sell that land immediately, no.
So why you use stop profit so frequently. That
is the attitude we have to change.
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Save capital and Stop profit this is the strategy
all about. You should know where to start and
where to stop. And the remaining all tools (eg
Support and resistance) are just blinkers but
what helps you the most is Save capital and Stop
Profit.
People tend to follow other peoples footsteps.
Most of the time people do not analyze or
triangulate the information they hear. People
having little knowledge about the market invest
in the currency market with all their savings and
when the price fall they cannot survive. That is
the reason you need to learn how to place your
Stop Loss and Take Profit option.
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Conclusions So in Forex trading, it is very
important to keep all these things in mind. Do
not let your emotion to trade. Follow the
trends, follow the analysis. Try to do realistic
trading in a demo account. Talk to your mentor.
Take it professionally. Whether you want to be
a trader or investor, you can take any kind of
help from our theforexsecret.com