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Forex
Using Technical Analysis to Determine Stop Loss Points
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[QUOTE="Sande, post: 304571, member: 97728"] Setting stop loss points in forex trading is crucial to manage risks and protect your investments. Technical analysis is a useful tool for determining these points. Support and resistance levels can be used to identify stop loss points. Support levels are areas where the price has historically found support, while resistance levels are areas where the price has faced resistance. By setting stop loss points just below the support level (if buying) or above the resistance level (if selling), traders can limit their potential losses if the price moves against them. Moving averages are another tool that traders can use to set stop loss points. These indicators can help identify the direction of the trend and smooth out price fluctuations. To use moving averages to set stop loss points, traders can set their stop loss just below (for buying) or above (for selling) the moving average line. By doing so, traders can exit the trade if the price moves against them and the trend reverses. In summary, stop loss points are crucial in forex trading to manage risk and protect investments. Traders can use technical analysis tools such as support and resistance levels and moving averages to determine these points [/QUOTE]
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Using Technical Analysis to Determine Stop Loss Points
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