What’s the most important thing of Forex trading? – Analytics & Forecasts – 19 September 2023 – Beragampengetahuan

A good Stop Loss setting is the most important thing of trading system.

Let’s say you have init balance 1000USD , you entry  a order and lost -50% ,  then you left 500usd only , which mean you  have to make your account increase 100% to recover to 1000USD ( 500 * 200% = 1000) .

This is  harder then you lost -50% , the piont is that you should stop your lose as good as possible, the balance you lost more , the much harder you recover.  

It’s not saying that a small range’s StopLoss setting is the best,  if the stop loss level set to too small, your position will be easily hit by the market move , especially when the data/news come out.  

So, how to set the best stop loss level ?   There’re some base ideas: 

1. use recent  Support level  or  Resistance level   

2. By Boll band