Hello newbie ,how can I maximize my profit in forex trading with the stop loss and take profit?
Hello newbie ,how can I maximize my profit in forex trading with the stop loss and take profit?
Easy before making your query complex.Originally Posted by ;
Let us say you exchange an account with XXX equity.
You exchange 1 place at once or 33, it does not matter, as long as you feel comfortable and know for certain you ain't going bankrupt.
What you're gonna do?
Let us say you exchange everything under the sun, swing commerce infant, and you come up with 33 positions as mentioned above.
Using a $3000 account, let's say you are going to be fine getting up to 0.01/place in to the market.
If you're fucking awesome and grow the thing 100% up, you are going to wager 0.02/standing.
You get the point. It's an anti-martingale system (wager more if equity develops, decelerate gaming dimensions if shedding ).
It's the most economical way to test crazy things if you're just starting.
Otherwise it is rather hard to crunch all the numbers (profitability. Average win/loss, worst disadvantage, etc) and also figure out the optimum size (with or without a s/l)/.
Yet to talk directly to you, you shouldn't bypass the s/l t/p class. It's helpful, oh yeah.
cheers!
I truly would not recommend trading without TP or SL, particularly if you are a newbie. Nevertheless, can I ask why you would prefer to exchange without TP and SL?
They are not intended for raising profit, but for limiting your trading risks and thus limiting profit.
No More SL = recipe for a margin call Earlier or later
Never trade with outside SL unless you have a crystal ball which 100 percent accurate with its fortune telling. I mean no SL that not great in any way and is like optimizing your loses. In Currency Market IMO break even is a type of winning, provided that you do not shed, its better to focus on minimizing loses than optimizing profits, smaller gains are better, contentment is the secret, with enough effort you will realize the GOOD benefits in time. Best of luck!
Certainly, no sl will cause a margin call, that's for sure. .
Trading without a stop loss is a recipe for failure. Moreover, how will you calculate your risk and position size?
Do not ever consider to play without a stop loss. You will find a margin call anytime.
Also there are positive outcomes if you use a TP.
Plan your trade and trade your egy. What this signifies is that you want to have put SL, TP and only allow the trade ride out itself.
When you don't have any of these, you can buy and sell based on emotion, which is not fantastic as it may cloud your judgement. While this happens, you may have lots of bad trades, then lose money, therefore missing out on profit and losing more money than you need to.
To maximise profit and minimise losses, make sure you have a trade program and stick to it. If price is moving into positive direction, move your SL to break to prevent losing money. Another example is to open two places on precisely the exact same trade - use on with TP and another with a trailing stop. This way you may also increase your profits.
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