Is it necessary to put a stop loss in forex?

hiiiii
iam beginner in forex iam looking for a strategy with stop loss

but is it necessary to put a stop loss in each trade???

Nothing is necessary and it all depends on a range of factors. In my opinion the majority uses a SL the wrong way, i.e. to close a trade at a loss. I place a SL to close a trade for a profit. In the end you need to decide how and if to use them.

You are a BEGINNER in forex trading so its NECESSARY to set a stop loss in all of your trades.

thats right so that iam trying to find a suitable strategy to be able to put the right stoploss

a stop loss make me calm and not keop watching the screen all the day

Since you are beginner I would say you should use a stop loss since you still haven’t have a trading strategy so this way you can protect your self. However, in the future once you create a proven working strategy than you can consider trading without stop loss and you can use them only to protect your profits as thelastbear said.

Agree with Rambo.
Stop looking at the screen and spend a few months studying at the free school right here. Then you can start thinking about your trading plan/ strategy

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You can play with stoploss (read: not use it) when you are advanced. However, even experts sometimes use it and there are a lot of them who believe stoploss is necessary.
For you as a beginner it’s a must.

Hey, :slight_smile:

I would always use a stoploss.

Losses are a part of a successful trading strategy which is important to remember.

Before every trade you should have a pre set idea of your targets and your stop loss.
This should go for even the most advanced trader imo.

A strategy where I could lose my entire account at any given moment is just not for me!

Stop loss is preferred. Imagine opening a trade and waiting to close it for yourself… and then your internet connection goes out, or the power grid fails, and you end up with open position going south and you can’t do anything to cut your losses.

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Stop loss in your trades is just like a brake in a car. Without brakes a car with definitely have an accident so without stop loss, your account will definitely get margin call.