Cryptocurrency Q&A
Is 20 pips a good stop loss?
Is 20 pips a good stop loss?
CryptoElite
Tue Dec 03 2024
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5 answers
883
I'm considering setting a stop loss for my trade and I'm wondering if 20 pips is a good amount. I want to know if this is a common or recommended stop loss level, or if there are factors I should consider when deciding.
5 answers
Lucia
Thu Dec 05 2024
Positioning the stop loss is crucial in trading to limit potential losses.
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Federico
Wed Dec 04 2024
For effective risk management, it is recommended to place the stop loss 15-20 pips above the sell order level.
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AmyDavis
Wed Dec 04 2024
This range allows for a buffer zone, minimizing the risk of premature closure due to market fluctuations.
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Andrea
Wed Dec 04 2024
On the other hand, setting a take profit is equally important to lock in gains.
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Pietro
Wed Dec 04 2024
Ideally, the take profit should be set at 30-40 pips, providing a reasonable profit margin while also giving the trade room to breathe.
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