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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. While the use of margin can accelerate the growth of a trading account, it is also a double edged sword that can cause a margin call if things get out of hand. When you decide to start trading currencies, understanding Forex trading basics is fundamental for your success in this market.
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