best forex trader
Stop losses don’t only exist to prevent losses but can also be used to protect profits; a good example of this is a trailing stop loss. A trailing stop can be used to protect profits that are already on the table; this is best done when the trade has made substantial gains, and then a trailing stop can be put between the entry point and the current price action. This allows for the current price movement to continue, just in case the market will give more profits, while at the same time ensuring that the trade in question won't lose money for the trader. A ‘limit order’ can also be used to exit parts of a trade when a pullback is expected but the market has not yet hit the profit targets. Is it possible to trade successfully with no stop loss?The short answer is yes, but for this strategy to work, traders must only trade in the direction of the trend, avoid using leveraging/margin facilities and be bullish only on currencies that are fundamentally strong. The buy and hold strategy is not popular among currency traders, and it will never be as long as Forex brokers offer high leveraging on Forex trading accounts and traders take the bait.
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When everything is said and done, what you want is more pip gains than losses.
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best forex trader