Channel: Urban Forex

Category: Howto & Style

Tags: tradingfxforeign exchangeurban forextechnical analysispipsanalysisforex

Description: Where should you put stop loss? Some traders will say at recent low/high, while others use a fixed pip amount. In this video, Navin explains how by using basic knowledge it will become a lot easier to set your stop loss, depending on the context of the market. As always, Navin explains in a way that is understandable for everyone, regardless of their experience in trading. 00:00 Mastering Stop Loss 03:05 Let's Start with Basics Knowledge Identify the basics to know where you should put your stop. You have to understand which state the market is in: - Trend - Range - Channel 05:45 Let's Take It Deeper - How to trade ranges Why. putting a recent Low/High stop loss won't work 12:25 How the Market Works - How most traders are using indicators to trade - What's the difference between trading stocks and forex 19:35 Example - How to interpret the chart on a everyday life object - Can you really make money on a ranging market? - Traders rely on the movements and volatility of the market - When are traders and average public entering the market - Too much volatility increases your risk 32:07 How psychology impacts your trading - Most traders put hopes into their trades - Identify the areas your trades may have hard time to breach - The market doesn't move the way you wish it moves 36:55 Where should you put your stop - In a range - A static stop loss will not be working in every market condition, even if your direction was correct - Timing is essential 45:55 How do you fix Timing - Understand what is happening in the market - How buyers and sellers feel when market moves - Where should you enter depending on the price action Useful Links 🔗 📧 Receive Urban Forex updates and Trading Tips: urbanforex.com/webinar-notifications 💻 Urban Forex Website: urbanforex.com 👨💻 Improve your trading NOW ➡️ Try the Mastering Price Action 2.0 Course for FREE: urbanforex.com/mpa-2-0-free-trial-information 📱Urban Forex Mobile Apps: urbanforex.com/app-store 📈 In this video, Navin is using the software TradingView to look at his charts, get your access to the same charts here : urbanforex.com/tradingview