Quote:
Originally Posted by ibrahimom2008
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.
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but most probably the stop loss (-5) is always hit first...before go to profit target....
