Reply With QuoteStop loss is incredibly useful, especially for less experienced traders, but one does need to learn to use it with great care.
Stop loss is important
Stop loss is important for short term traders. It ptotects you from incurring huge loss. But you have to be expert in placing stop loss. Most newbies complain that if they place stop loss, market reverse after hitting the stop loss. It happens because they are not experts in trading. You also need a broker like Eurotrader that doesn't give slippage.
Stop loss is incredibly useful, especially for less experienced traders, but one does need to learn to use it with great care.
Education is must for forex trading. without any knowledge it is very risky to invest in forex market. besides traders have faced a lot obstacles during trade. trader can get education by opening a demo account, where he can trade without any risk. I am also using a demo account of Forex4you to know about the forex market. It helps me to gain knowledge about forex.
From my first day of trading I have been using Tpglobalfx trading broker because this is my favorite brokers among all. I choose them after confirming their regulation and license program. Because with a regulated trading broker we can trade safely which is first priority to every trader. From this reliable and regulated broker I have instant market execution, security of funds and investment, low trading spread and other trading facilities.
Take risk in your trades according to the investment amount so you may stay apart from trading risk. In this situation, you can follow the free education program of Eurotrader broker and can invest in the broker to enjoy their 111% deposit bonus.
I never risk more than 2% per trade trading with Hotforex, I think this is the key rule that helps me to keep afloat.
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