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How to use stop losses on the best way?

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asked May 9 in Forex by BryanNelson (2,510 points)
edited May 9 by BryanNelson

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answered May 9 by McKiney

I think the best way to use stop loss is to make is movable; for instance, if you enter a trade at 1:5000, and set a 30 pips stop loss at 1.5470; if the market climbs to 1:5030, you move the stop loss 30 pips higher at 1:5000. This way you lock up profits as you trade. This method has helped me pull in at least 100 pips profit monthly via Profiforex.

commented May 9 by anonymous
Yeah its a good way of using stoploss, and i think that its a good tool that should be used, no matter how.
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answered May 9 by Ian

Stoploss is a good tool for any trader as it helps in turbulent market situations, but if you are an experienced trader then you can choose between using or not using it, but still its very recommended to use it.

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