Stop Loss in demo account? (Part 3)
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  • #1 Collapse

    Stop Loss in demo account? (Part 3)
    So now you better understand that forex trading is not just about trading strategies that are owned, but also about the emotions that must be controlled. Then with what we can regulate our emotions? by having a trading plan, in which already includes how much risk we will accept.
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  • #2 Collapse

    Originally posted by ut3t View Post
    So now you better understand that forex trading is not just about trading strategies that are owned, but also about the emotions that must be controlled. Then with what we can regulate our emotions? by having a trading plan, in which already includes how much risk we will accept.
    i think we can join demo account to practice our control emotion. demo account contest will push us to create maximum profit to be the winner. so we will do anything to be winner. we can break our trading rule if not have good control emotion to be winner
     

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    • #3 Collapse

      i am not using stop loss function in demo account and we dont need to use on demo. if we loss our trade it will take no effect.

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      • #4 Collapse

        Originally posted by lipon View Post
        i am not using stop loss function in demo account and we dont need to use on demo. if we loss our trade it will take no effect.
        yes, you are right. no side effects but if you loss then you will lose confidence. we should try to win always. i am also not using this stop loss option.

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        • #5 Collapse

          using stop loss at demo account is good and it will become a good habit when the trader trade at real account and implement it as well as they can, many new traders set the virtual money too big at demo account and then trade without stop loss because they have larger margin to hold floating minus, this is as bad habit..

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          • #6 Collapse

            Best to stop loss. when price break through 10 pips of support or resistance points that you've chosen in advance. i do it. some people stop loss after price break through points support or resistance immediately
            I'm good

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            • #7 Collapse

              practice trading like we do real trading. actually nothing different between demo account and real acct. the different is one using real money and the other don't.
               

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              • #8 Collapse

                I found demo is the best for the newbie and we can take lot of experience here and can improve our skills and strategies.
                 

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                • #9 Collapse

                  Originally posted by lipon View Post
                  i am not using stop loss function in demo account and we dont need to use on demo. if we loss our trade it will take no effect.
                  You trade on demo account just of learning purpose and you need to learn the best application of all the tools that are beneficial in live trading. If you will learn the use of stop loss in demo account you will do much batter on live account.
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                  • #10 Collapse

                    Its very best tools for newbie they can manage their money and they will learn money management.
                    If you use stop loss in Demo account then you will able save money from loss in real account.

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                    • #11 Collapse

                      Originally posted by lipon View Post
                      i am not using stop loss function in demo account and we dont need to use on demo. if we loss our trade it will take no effect.
                      i think you need to apply stop loss eventhough trading in demo account. you need to simulate real condition in demo account, stop loss is very important to secure our account from margin call
                         

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                      • #12 Collapse

                        Demo trading is a practice account, so we need to practice all the things what we are going to do in our real account trading. so setting stop loss and managing it should also be lernt and practiced in Demo account even though there is no real money involved.
                         
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                        • #13 Collapse

                          Originally posted by sastrowarwer View Post
                          i think you need to apply stop loss eventhough trading in demo account. you need to simulate real condition in demo account, stop loss is very important to secure our account from margin call
                          you're right, we must assume real demo account as a real account anyway, because of our requirement for trading on the real truth is to earn profit from the demo account as the first benchmark
                           

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                          • #14 Collapse

                            the best place i think is beyond the support and resistence areas for example if you are buying eur/usd try to put the stop lose under the support with +15 less or more or something like that, and if you are in sell mode then put it over the resistence point with +15 less or more.
                             

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                            • #15 Collapse

                              it depends on you and your trading strategy.....
                              if you are a long term trader then you better place your trades with stop loss at around 100-150 pips.....
                              if you are a short term trader then a stop loss of under 100 pips could better suit you....

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