Stop losses

This is a discussion on Stop losses within the First Steps forums, part of the Reception category; Originally Posted by j m You place your stops using levels of support and resistance. if you were short you ...

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Old Jun 13, 2009, 7:43pm   #16
Joined Nov 2008
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Originally Posted by j m View Post
You place your stops using levels of support and resistance. if you were short you place your stop above a level of resistance. If you were long you need to place it below a level of support.

Look 'Support' and 'Resistance' up on investopedia
Are you sure about it? You place your STOP there...market touches it and goes down again. Ever happened to anyone?

What is "resistance" in forex market? On one platform "resistance" will be at 1.4040 and at the other it will be 1.4045. Which resistance is "better"?

I would recommend putting STOP above/below important levels. such like 1.4050 in this case.
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