HOW to Place a STOP LOSS | Trading for beginners – RICH TV LIVE July 21, 2020 – email m_orellana@yahoo.com
Welcome everyone i hope everyone’s having a beautiful monday and i hope everyone is also enjoying the training that we’re giving here on risk to be on forex so today’s topic is about forex tablets what is a stop loss so as a trader managing and preserving your trading capital is your most important task as a trader if you lose all your trading capital there is
No way you can make back the lost amount meaning you’re out of the trading game so if you make pips you got to keep and not give them back to the market but as we know the market will always do what it wants and it will move the way it wants to move so here’s an example of stop-loss order so every day is a new day in the market and almost anything from global
Politics major economic events so central bank rumors can turn the coaching practice from one way to another fashion and you can blink your eyes it’s happened before it happened to me i’m sure it happened to everyone that had been in the forward training this means that each of one of us have taken a trade on the wrong side of the market including myself if
Someone tells you that they have never taken the opposite side of the market when they are not being then they’re not being true for you basically they’re lying to you so here’s an example of a stop-loss order let’s say you were to put a buy on gpusd right here where the buy is and then it goes up and you’re making your profits right but you also put a stop loss
On it just in case if it goes the opposite direction and you also put a tp but your tp is nowhere in sight and then all of a sudden it just comes start coming down and then it finally just comes down and hits stop loss right there you just avoided losing major percentage of your trading account let me show you guys a video of how you can lose weight a stop loss
Hopefully you guys enjoyed this video it’s real fun i love that video as you can see like if you can see there it was going for a buy but then all of a sudden it just dropped and that’s how the market is that one time that you did not use stop loss you lost all your money so traders can either hope for the market to go and turn around but nine out of 10 times
It won’t happen if you have your small account or it won’t happen at all so it is better to be safe than sorry and to have a stop loss you know so for new traders i tell them a stop loss is a crucial skill and a tool for them so when you enter a trade you must be ready for it to hit your take profit or your stop loss so now we have two traders and here you can
See mario luigi went from making the same strategy but are using different stop losses percentage so as you can see marge using two percent of his total account balance and luigi is using his 10 of total account balance so they’re going to go on the same tray with the same stop loss but they’re using a higher percentage of their account to use it so mario luigi
Where they hit tp or their stop stop-loss now today they both went on losing streak and both lost 10 straight trades my advice to you if you ever lose 10 straight day trades just don’t trade no more i mean even after a couple i’m done i just gotta get out of the market and refresh my mind so mario lost 10 straight trades right but he had two percent of his total
Account balance so in those trades so he lost twenty percent two times ten is twenty but luigi he was putting ten percent on every trade for that big stop loss right let’s see how that turned out for luigi r.i.p i’m sorry luigi but lost lost his whole account using big stop losses and he is out of the trading game so as you can see your stop losses also depend on
How big of stock loss you have also got to be mindful of your account how how big your account is and how much of the account you want to lose so mario use two percent luigi is ten percent which is a lot if you have a big if there’s a big account not that much but you gotta be mindful of the trades that you you take and the stop loss and how big the stop-loss
Should have so i hope you guys enjoy that training and i hope you guys learned something and if you like my training give a comment or like and just shoot me an email and if you would like to join our team my email is m underscore origami52 yahoo.com or you can email rich and let him know to join my team or anyone else’s team thank you everyone and i hope you
Guys have a beautiful night and look forward to teach you that more bye
Transcribed from video
HOW to Place a STOP LOSS | Trading for beginners By RICH TV LIVE