Quote:
Originally Posted by knoppixgold
could u clarify it further....i don understand trading with "luck". forex is very volatile ...i think the most. if i'm not mistaken...they say only 5-10% get profit from this market..do u think this 5-10% trade only by "luck".....all the time....maybe sometime but not all the time....for me money management and discipline is the key.....that why until now i struggling with that. emotion my no 1 enemy....so by put proper SL...maybe i could manage my emotion...maybe...  . for now i still dont use SL only trailing SL. somehow i agree with u that no need to set SL if we know what we are doing...the trend etc....but what happen if something happen to the country that the pair we are trade...riot, war or terrorist...bomb..etc....then...the SL is the most important to protect our capital. |
I tell you what's Stop Loss is really about
: For example you want to open a trade, but the spread is in volatile, so you can't just keep waiting for the rates to go up and down to close your trade and make some profit, and here where it come the Stop Loss technique useful because it's not just for stopping loss but also for stopping profit, let's say you want to make 10 pips profit and no less than 5 pips loss, so you make the Stop Loss at -5 pips and +10, and it will automatically close you trade.
I disagree with "ismailsolutions", because Forex has a risk even for the professional trader, so "luck" is important but not in case sensitive.
For me Forex is 93% knowledge and experience and 7% luck.
