How to Place a STOP LOSS and TAKE PROFIT when Trading Forex!

Entering the trade in the forex market is as simple as clicking the "buy" or "sell" button. Finding a way to exit the forex trade, whether it goes in your favour and you want to exit in profit or the market turns against you and you need to get out before the damage on your account becomes substantial - this video is for you! Let's dive in and look at the best way to exit the markets!

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* The information provided in this video is intended for educational purposes only and is not to be construed as investment advice. Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. There is a possibility you could sustain losses of some, or all of your initial investment and therefore seek independent financial advice if you have any doubts.

** Our team of coaches will never contact you directly outside of the Trading Room. If any person(s) contacts you via Social Media platforms offering account management or asking for payment, this is not HowToTrade and should be ignored.

[harrisonmccoy]

Love this kind of videos with simple explanations. Very self-explanatory

[jarradmcdonald]

So clear and simple! I'm no expert but I've never had it explained this clearly! Thank you very much!

[dietrichaediltrudis]

Stop-loss orders are a critical money management tool for traders, but they do not provide an absolute guarantee against loss.

[dean_m_]

I signed up to forex signals, in the first week of July 2020 and completed Andrew's 5 modules within 2 weeks; the first 3 (as well as all) give a methodical concientious approach to trading for beginners and the clarity is exceptional. I was ungraded in maths at school, and it is daunting when you choose to work in a business that is based on maths; I am proof that if I can do it, anyone can do it. The crux of trading when learning at forex siganals is setting your stop loss and take profit targets but working those in conjunction with your support and resistance lines which aid your trades. The crux is where I am at right now, and for me watching this video (in my opinion) is the most significant video to my success as a forex trader.

[brucesmith]

Thanks Andrew simple strategies get complex when people add too money rules nice to see yours break down so nice an easy

[welshcooper]

A good entry point would always increase the chances of a successful trade and I’m glad my account manager makes best use of his experience to know when to enter the market.

[jermainsmith]

As a newbie, I found this video very thorough and easy to follow! Thank you again for this free educational content.

[AbdulAziz-exmt]

Great information, thank you brother.

[jagankurra]

Excellent tip to traders - comparison in time frames.
Those who follow this rule strictly are less likely to fail.

[adrianpalmeredwards]

Great job yet again, very helpful & informative especially to those starting out, excellent work Andrew & Forex Signals is definately the place to be.

[gabrielgammatidis]

Your stop loss and position size determine your risk, your profit target determines your best possible reward. Your risk/reward ratio determines what your win percent needs to be for profitability.

[kewljoi]

Everyone is advising not to use " Stop Loss " and this is greatest advice with " Black Swan moment " is best. Whoever listened to it is lucky

[howardhill]

In this example you have used an enormous stop loss (70 pips)for an hourly chart trade, especially when hourly ATR is 12 pips. This is because you based the stop loss on the bigger time frames. I prefer your stop loss setting method that you demonstrated on another video when using the 8/13/21 moving avg.strategy. In that case you put the stop loss behind the candle that reasserts the trend continuation after a pullback. That stop loss is more aligned with the trading time frame.

[davidharuto]

I most say, this video is practical. Stop losses generally aid protect funds from losses as the name implies. Yet, it isn’t the best tool to achieve such a feat.

[lostwithvic]

how do i get the sl-tp tool you used? very handy

[xaviourantony]

Great sharing Andrew. Good that you explained on SL and TP. Missed out on how you determine your Major support and Resistance in this video however it was an excellent point you mentioned. Thanks

[charlesaladi]

this video has been helpful because have lost a lot due to lack of not setting my SL & TP.

[colin]

Stop losses have their place, as long as they aren't too tight. Wider stops below or above key levels of structure that allow the market to breathe give me more success. I recall being stopped out so many times just below the line of support, for the stock then to rally in my favour. It's as though the broker have pre determined levels to wipe you out!

[milzskilz]

Forex trading made simple, thank you brother! 👌👊

[justinkurtrivera]

Actually I don't know how to place a stop loss but because of this educational videos I've done that very great