Hedging, Stop Loss And Take Profit Which One Suits You Better?

[mdenamul]

 

Above, i mentioned three methods of controlling and stopping losses in forex. Which ones do you prefer to use and which one works best for you.

 

[Guest gaban]

I combined all in my strategy :)

Especially Stop Loss And Take Profit are part of money management in forex trading.

[kaito kid]

I think you must use both take profit and stop loss settings as both are very important risk management strategies.If our market analysis went a slightly wrong then our profitable trade may convert into big loss that's why I think we must use both in every trade.

[Guest gaban]

I think you must use both take profit and stop loss settings as both are very important risk management strategies.If our market analysis went a slightly wrong then our profitable trade may convert into big loss that's why I think we must use both in every trade.

 

You're right. If we trade with put stop loss, it mean we have try to minimize the risk and put TP can make us be a trader who is not greedy. That's why i also trade with SL and TP.

[Jordan Sands]

In Forex trading we should look at everything which includes hedging, stop loss or even take profits as only than we could make any profits but in case if we don’t do that than we will struggle in different situations. I mostly suggest all to trade on demo to understand these basis ways better and once we are able to understand these better we can easily move to real with knowing the benefit of this.

I trade on demo account with happiness due to OctaFX broker as they have one of the best demo contest that happens every week, it’s their cTrader contest that I can participate regularly and able to win up to 400 USD money and plus get to learn about all these basis things.

[Abdul Razzaq]

I think every option is good according to the situation, so if the need is for hedging then it’s better to do that, so according to that we should work, if we work with a fixed plan then we will be found out wanting, so it’s better to learn to trade in all conditions. I am lucky to be working with a highly quality broker Nova FX; it’s a beautiful company with education section available from which I can learn things easily.