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Should I use TP and SL?

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Charles Agustin

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Our ignorance to following proper guidance of trading may lead us to fail. Always try to use TP and SL in your trading because it will save you from sudden losses.
 
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Charles Agustin said:
Our ignorance to following proper guidance of trading may lead us to fail. Always try to use TP and SL in your trading because it will save you from sudden losses.
Click to expand...
i like using the chandelier trailing stop loss or they call it chandelier exit indicator 22 22 and 3 atr is the best settings.
 
I think it is better to use stop losses and take profits in your trading. First of all, it gives you the opportunity to control risks and in case of an unsuccessful transaction, you will be able to close your loss on stop loss in time, not allowing it to grow. Secondly, such actions discipline you and allow you to trade systematically, and not impulsively, which is also important in trading to achieve better results.
 
jlemon said:
If you are using small account like $100. It is good to use tp and sl to protect your equity.
Click to expand...
I think that when trading on any deposit size, it is better to use tp and sl. After all, risk control is important in any type of trading and on any trading account to minimize your losses in unsuccessful transactions and save your capital.
 
True that! TP and SL are like seat belts in trading—they might not prevent every crash, but they’ll definitely minimize the damage.
 
Indeed, ignoring proper trading guidance and failing to use essential risk management tools like Take Profit (TP) and Stop Loss (SL) can lead to significant financial losses.
 

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