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General Forex Discussion
The importance of using a stop loss
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[QUOTE="mehulsoni, post: 53782, member: 25356"] Stop loss prevents our capital from losing more and help us stay in market for long. By putting stop loss point, we are informing our broker that we cannot afford to lose money if it hits the certain limit or point in unfavorable direction. If you are not using the stop loss properly then you are not trading but gambling. Stop loss is a very good option for protection against the immediate heavy price movement of currency pair. We can define an accurate stop loss point by having a good analysis of the market...a stop loss point which is going to hit in rare case .There are different ways to identify the support and resistance level to get the proper stop loss point, just like daily pivot points, Fibonacci levels etc. [/QUOTE]
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