Use your platform to place the stops, not your mind. This is a good advice especially if you are not an experienced trader. Not only a stop loss order is an electronic risk limiting device, avoiding such problems as mentioned above, but it is also a measure against your eventual doubts about the decision you took to enter the market.
You can always feel tempted to let a losing position go against you in the hope the market turns in your favor, but when that happens you are probably not solvent anymore because of the leverage effect. To avoid that harass, let the platform automatically execute your stop. Read More
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REPORT: Stop Losses - Brandon Wendell
REPORT: Managing Your Stop Loss in Trading - Rick Wright
REPORT: Setting the Stop Loss in a Breakout Scenario – Close or Far? 4 Factors - Yohay Elam
VIDEO: 3 Strategies for Placing Ideal Stop Losses - Navin Prithyani
Editors’ Picks
AUD/USD loses ground due to the absence of a hawkish RBA
The Australian Dollar has plunged following the Reserve Bank of Australia's decision to maintain its interest rate at 4.35% on Tuesday. Investors sentiment leaned toward a potentially more hawkish stance from the RBA, particularly after last week's inflation data surpassed expectations.
EUR/USD edges lower to near 1.0750 after hawkish remarks from a Fed official
EUR/USD extends its losses for the second successive session, trading around 1.0750 during the Asian session on Wednesday. The US Dollar gains ground due to the expectations of the Federal Reserve’s prolonging higher interest rates.
Gold price recovers its recent losses, despite a firmer US Dollar
Gold price attracts some buyers during the Asian trading hours on Wednesday. Safe-haven demand, fueled by geopolitical tensions and uncertainty, as well as ongoing central bank purchases, might contribute to a rally in gold.
Ethereum resume sideways move as Grayscale files to withdraw Ethereum futures ETF application with the SEC
Ethereum is hinting at a resumption of a sideways movement on Tuesday after seeing inflows for the first time in seven weeks. Grayscale withdrew its application for an Ethereum futures ETF, and the SEC’s Chair Gary Gensler has also called most crypto assets securities.
No obvious macro catalysts to steer the bus
The US data calendar remains relatively light, with initial jobless claims and the University of Michigan survey being the key focus. However, these releases may not provide a significant catalyst for the next directional move in the US Dollar.
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