hi 

You are asking  about sl and tp to other traders that mean you dont have a plan or strategy to trade .

my suggetion to you is to build a strategy first make a plan (when i say make a plan it mean write it down and follow it)

A good plan cover three thing 1.you entry point mean when to enter the trade and when stay in side 2.your sl and tp for the trade 3. last but very important in this risky bussiness is the "money management"

the strategy to Take Profit is always same with strategy to OP.......

before OP, we have to know how much pip we will get.......if we know when to exit, we also know what price level to enter.

Try to consistenly with TP, don't be greedy......if we usually get about 20 pip per order, so try to exit trade with same TP (pips) for next order.

about SL,,,,just calculate Risk Management......I usually try to make TP at 20 pip, and SL 50 pip.........try to make 10 win & 1 loss, and not compounding.

lol this has always been my question too. I use EA for setting SL and TP with just some adjustments. Sometimes I adjust it according to the lost that I may get so I depend on capital. I also depend on the prvious swings. I remember one time I got a margin call before realizing the SL...

Originally posted by megrawab

lol this has always been my question too. I use EA for setting SL and TP with just some adjustments. Sometimes I adjust it according to the lost that I may get so I depend on capital. I also depend on the prvious swings. I remember one time I got a margin call before realizing the SL...

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this is the problem of all newbies who dont use SL and just ride on one trade to get rich 

We need to study and analyze these markets and based on the same we need to figure out the entry and exit levels for our trades and when that level is achieved we should exit our trades or we can place take profits at same levels .

You should take the current volatility into consideration when calculating your stops. E.g., you can use the distance between upper and lower Bollinger band or the average length of a certain amount of last bars as a factor for stop calculations.

k4y

I think Take Profit and Stop loss is calculated at the same time, when calculating the risk / return

Originally posted by FXlord

I think Take Profit and Stop loss is calculated at the same time, when calculating the risk / return

Yes, i agree with you..... Before make trade order (Open Position), we also have to know where we gonna put SL & TP..... Before put TP-SL we also need to predict how far price will move.

for me, if market moving sideway for 2 days (not hit TP-SL), I will manually close order in profit smallest pip (only get profit 2 or 3 pip)

Originally posted by widhie75

 

Originally posted by FXlord

 

I think Take Profit and Stop loss is calculated at the same time, when calculating the risk / return

 

Yes, i agree with you..... Before make trade order (Open Position), we also have to know where we gonna put SL & TP..... Before put TP-SL we also need to predict how far price will move.

for me, if market moving sideway for 2 days (not hit TP-SL), I will manually close order in profit smallest pip (only get profit 2 or 3 pip)

Wow 2 days... well if you talk about long term trades then maybe. Some traders use force exits. These force exits are based on time.

Force exits r not used by many traders.. Usually manual strategies are based on indicators which define entry and exit. In PA, you dont define it. Similarly EAs do not usually have any time exits. 

I think only fundamental based trading do have time limits.