What are the target price and stop-loss?
What are the target price
and stop-loss? why I choose this content because most of the retail traders are
don’t have an idea about where stop–loss have to put, when have to use, and
what our target price, so I thought I have to share some piece of knowledge
with you all. Stop – a loss which means that’ using for stop your losses from
the trade, but most of the traders are taking more risk in the market, most of
the traders can’t control their emotions while in the trade this is also one of
the major drawbacks of these kinds of traders. As a trader, you have to know
where you have to put the stop–loss and how much you have to set as your target
price, and another important thing is controlling emotions. Trading is the
skills that include money management, time management, risk management, trading
skill, controlling emotions, etc. Trading is a process so and that process has
to be done properly otherwise you will face huge loss from the market. If you
want to become a good trader? then, first of all, you have to understand what
Is the market, why the market works, what are the factors are influence to the
market, etc. most retail traders are makes many kinds of mistakes but they
don’t know where he/ she makes the mistakes this is one of the major problems,
if you take 10 trade then 4-5 trades have to make a profit so the thing is you
have to take the trade at the correct time at the correct place, you have an
answer for the question always before takes the trade that is – Why I take the
trade, what is the purpose.
Why the Stop loss is important
Suppose you doubt – why
the stop loss is important? Because if you use the stop loss while in your
trade you can avoid maximum risk, and you can save your capital, so putting
stop loss is an important thing for every trader.
What is the difference between stop loss and option?
Some beginner traders
have some confusion like what are the differences between stop loss and
options. You have to understand one thing if you are using a stop loss that is
minimizing your risk, and also helps to save your capital amount. In the
options market, you can ensure the safety for the trade because the option is
like security or insurance, but most of the retail traders are putting a stop
loss in the optional trading, so try to avoid this kind of mistake, the little
bit of mistakes makes huge losses so, understand first then trade.
Controlling emotions how
is important to every trader
Controlling emotions is
an important thing required for every trader because most of the traders are
makes the mistakes here so as a trader you have to know how to manage your
emotion, this is the toughest thing but you have to control there is no another
way for it. If you are entering into the market you can learn more lessons from
the market, the market will teach some lessons, but you have to understand and
also you have to avoid those mistakes then only you can trade like a
professional.
Set target
If you are a trader? Then
you must set a target whether It applies to all kinds of traders that can be
intraday traders or swing traders and also to long term traders. First of all,
you have to set a target, you have to set a proper target price so this is your
decision so you have to set the best target for your trade. Once you set the
target you have to put the stop loss, if you hit the target then the trade will
close, so here you have to be more conscious. You have to analyze then trade.
Analyze the trend of the market
Before takes the trade
you have to analyze the trend of the market whether it is up to trend or
downtrend or consolidation stage, you have to know that well, then you have to
take further decisions, so here the trend analysis is the important thing.
Summary
What are the target prices and
stop-loss, so as a trader you have to set the target and also you have to know
where you have to put the stop loss and how many points have to be put for the
stop-loss? You have to know why the stop loss is important, and you have to
control your emotion, then you have to use the target, and have to analyze the
market trend then you have to trade.
I’m not your trading
advisor, I just share the piece of knowledge about it
I hope this content was useful.
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Speaker: Mr. Souradeep Dey ((B.E. (Info Tech), MBA (Finance) Trader & Trainer) has rich experience of 11 years as an equity and commodity trader and trainer. He has worked as a crude oil trader for 3 years for FuturesFirst, trading in the ICE exchange, Europe)
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Date / Time: 21-Aug-2021 at 3:00 PM (IST) Saturday
Language: English
Duration: 2 Hours
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