Basically, one of my friends told me about a trading software called PineConnector. It's automated trading software. It has many advanced options. So what did you think about this software? Is it okay to use if you are more of a beginner and less of a mediator?Managing risk is a fundamental part of my forex trading approach. To ensure I don't exceed my comfort level, I establish my risk tolerance for every trade and put stop-loss orders in place. This way, I safeguard my capital from undue exposure.
Thanks for sharing PineConnector! Could you elaborate on its user-friendliness for beginners?Basically, one of my friends told me about a trading software called PineConnector. It's automated trading software. It has many advanced options. So what did you think about this software? Is it okay to use if you are more of a beginner and less of a mediator?
I don’t extend my trading lot size and besides so I don’t always use stop loss rather I prefer hedging to save trades from losses.How do you manage risk in forex trading, including setting stop-loss and take-profit orders?
Setting stop losses is my primary method of risk management. It is a safe method.How do you manage risk in forex trading, including setting stop-loss and take-profit orders?
I agree with you pal, stop losses is the greatest way to mange your risk and get over greed or overconfidence.Setting stop losses is my primary method of risk management. It is a safe method.
In forex trading, managing risk is key to staying in the game. For me, setting stop-loss and take-profit orders is non-negotiable. It's like setting boundaries—stop-loss limits potential losses, while take-profit locks in profits before the market can turn. I also never risk more than 1-2% of my account on a single trade. This way, I keep my emotions in check and protect my capital. Remember, consistency and discipline over time are crucial.How do you manage risk in forex trading, including setting stop-loss and take-profit orders?
The risks in trading are something we already know. So we have to manage risk to be successful in trading. From personal experience, I use the manual take profit and stop loss method in the market. Even though I sometimes set TP in my orders, the stop loss is still manual. I do this by continuously monitoring market conditions. Currently, I use the scalping method, because it is calmer in life. Thank you.How do you manage risk in forex trading, including setting stop-loss and take-profit orders?
In my experience, managing risk in forex trading involves careful position sizing, setting stop-loss orders, and assessing risk-reward ratios before entering trades. I aim to risk only a small percentage of my trading capital on each trade and prioritize protecting capital over chasing profits. By maintaining discipline and adhering to risk management principles, I mitigate potential losses and increase the likelihood of long-term success in forex trading.How do you manage risk in forex trading, including setting stop-loss and take-profit orders?
aint it kinda sus that Uve only got 1 thread and 1 message on Ur profile since july when U signed up? and after U dropped the name of a software in the same thread U jus ghosted?Basically, one of my friends told me about a trading software called PineConnector. It's automated trading software. It has many advanced options. So what did you think about this software? Is it okay to use if you are more of a beginner and less of a mediator?
Simple) Use stop-loss and take-profit orders, diversify, and limit leverageHow do you manage risk in forex trading, including setting stop-loss and take-profit orders?
Sounds very good, but why take a profit with a 1:1 risk/reward ratio, why not 1:2 or 1:3?I manage risk by simply placing a stop loss and taking profit with a risk-reward ratio of at least 1:1, sometimes higher depending on the analytical forecast. I have used hedging strategies to manage risk, but I think this method is less profitable because apart from the challenge of when to open the hedging lock, transaction costs are also another consideration.
cause thats the plan they rollin with? XDSounds very good, but why take a profit with a 1:1 risk/reward ratio, why not 1:2 or 1:3?
A target that is too wide allows market volatility to bring prices back to the initial track, in my opinion using RR 1:3 is only suitable for strong rally markets, here the analysis bias when a rally will occur is difficult to predict.Sounds very good, but why take a profit with a 1:1 risk/reward ratio, why not 1:2 or 1:3?