How necessary is follow SL.

[aman mughal]

Generally, Traders are seen to trade without SL.it is full of risk and may blow your account.

 

[mlawson71]

Here is the way I look at it - what is the point of using Stop Loss at all if you're not going to let it do its job?

 

[aman mughal]

Here is the way I look at it - what is the point of using Stop Loss at all if you're not going to let it do its job?

stop-loss should be reasonable my dear.

 

[Sherverty]

You should always use risk reward ratio when setting your take profit and stop loss when you place a trade with your trading strategy, otherwise your account will remain the same or may be losing money so you should always use risk reward ratio when setting your take profit and stop loss while placing a trade.

 

[Daantje Pieters]

Stop Loss needs to be used to maintain risk management and money management. And to cover uncontrolled loss, stop loss needs to be used. As a trader, I must manage risk and move forward in trading.

 

[mlawson71]

Some people do trade successfully without stop loss though. It's not impossible, nor is stop loss mandatory. Still, if you're not very experienced, it's probably prudent to use it.

 

[desofm]

If you are day trading or scalping, you almost must place a SL either when you open a position, or as soon as you place it. Otherwise you can get your account blown in seconds or minutes

 

[HeavLeighGill]

Very important to use a SL. I would say it's pretty reckless not to use one tbh, you may get lucky once or twice but bound to blow your account.

 

[Multisulcate]

I think SL is very necessary in trading. Without SL, losses would be bigger, causing trading accounts to blow up. Every trader should use stop loss while trading to keep trading for a longer period.

 

[Mucivorous]

For inexperienced traders, stop loss is worth it because it helps them save most of their capital and still make profit. Many traders don’t use it and win. It depends on the approach and how the trader manages their risk.

 

[EliseoB]

According to the experience of many, it is better to manage risk well to minimize losses.

 

[Keeper609]

It is necessary from the start to choose a limit and if to hold. Often we think that walking can turn around and unfortunately we end up burning the account :s

 

[Wordplay]

Stop loss is important, especially if you’re a beginner. It is necessary to place stop loss so you don’t end up with an empty account. This also gives you time to understand the market shifts.

 

[Berserker]

A stop loss is essential for preventing losses in the forex market. They help a trader prevent heavy losses. But it does not mean that stop-losses will always work. Poor liquidity, reading halts (being stuck in a position), overnight gaps, etc., are some circumstances where stop-loss might not work.

 

[llJustll]

As other said, it can be risky for some, but good traders knows when to give the trade a room to breath and not go too far away. and then reverse back

 

[Citigrade]

There is no doubt that stop-losses are really necessary in Forex trading as they help avoid a potential large loss of capital. Traders can use a single 100 pips stop-loss order or more sophisticated techniques, such as trailing stop-losses. A trailing stop-loss is a stop-loss that is moved along with the underlying currency´s price in the same direction. In other words, if the price of the underlying currency moves in an upward direction, the trailing stop-loss will move along with it, but if the price moves in a downward direction, the trailing stop loss will not move.

 

[Agynary]

I believe that stop-loss is quite important in trading. Without SL, losses would be worse, causing trading accounts to crumble. To trade for an extended period of time, every trader should implement a stop loss.

 

[Hootenany]

By placing stop loss, you allow yourself more time to understand and get to know the market on a higher level which only allows you to secure your fund and make money eventually. In short, it’s very important, especially for beginners.

 

[babasegi]

Stop loss may not be important to use but it depends on one's trading style.sl useful in cases of sudden spike in price

 

[O_777]

Sl is essential from my experience, especially starting out, you should always pre-define your risk before a trade in percentage terms