eToro – Forex Trading Forum

[tbirds]

why is the minimum and maximum stop loss and take profit rates determined by etoro?All other dealers that I have traded with let the trader set what ever they desire. I

[tes888]

Etoro had set the max level base on the contract size you are trading, however it does not stop you from increasing your stop loss level which depends on how much u have in you account.

It also help u minimize your losses, if u think of it in the positive manner.

As for the min stop loss, if u think your position is not right , you can my as well close it, so why bother about the min stop loss.

Every entry is always a risk and gain factor, so it really depends on individual.
To be successful, think of how much you are willing to lose and how much you may gain from each entry u make.
Therefore there is always the entry and exit point, whether is profit or loss.
Alot fails to understand about forex because they know how to enter but don't know how or where to get out of it.

[tbirds]

Thanks for your help tes 888. What I was trying to explain was lets say I entered a buy order @1.41000. I get filled. Now the pair goes to 1.4125. I would like to place a stop loss order at say 1.4115 to protect at least a 15 pip profit. I tried doing that on manytrades but was not able to place the stop above my filled price. Help. I could not protect my profit . Other systems I traded on also have a trailing stop function which is excellent when you have a nice trend going for you your stop will automactically move up as your gains increase, but etoro does not have that trailing stop fuction. But I can not even get the simple stop loss to work properly. Is it me or the system?

[tbirds]

I WAS INFORMED THAT THE REASON ETORO HAS SUCH A WEIRD STOP LOSS SET UP IS SO YOU HAVE TO CLOSE YOUR TRADE TO TAKE YOUR PROFIT. THEN GET BACK IN IF YOU THINK THERE IS MORE PROFIT TO GAIN. THIS MEANS MORE MONEY FOR ETORO SINCE YOU HAVE TO PAY THE HIGH SPEAD AGAIN . MORE MONEY FOR ETORO. WITH A TRAILING STOP LOSS YOU WOULD NOT HAVE TO CLOSE THE TRADE YOU COULD SIT BACK AND RIDE THE GAINS AT YOUR OWN PREDETERMINED STOP LOSS SET UP. THOSE OF YOU THAT ARE AWARE OF THE TRAILING STOP WILL FIGURE THIS OUT ALSO. I MUST NOTE THIS TRAILING STOP LOSS WILL NOT MAKE YOU A BETTER TRADER THEN YOU ARE NOW IT JUST MEAN PAYING LESS SPREAD MONEY TO THE DEALER. ONE MORE REASON I WOULD NEVER OPEN A LIVE ACCOUNT WITH ETORO.

[trahav]

What if I am following a trend, and I place a trade and it temporarily goes in the opposite direction? The stop loss is there and it close me out before it turns around and goes back the way the trend was going in the first place. This can be frustrating and doesn't give me the opportunity to make money.. How can get rid of the stop loss to make more of a long trade?
The trends have continued to go in the right direction later after the stop loss closed me out..
What can I do?

[tbirds]

I'am not positive but i think e toro plateform always sets a stop loss when you place a order. you can determine how much you are willing to risk on a trade. If you can not be at your computer and you find you have a positive trade and think it has more gains possible, then i would just put the stop as far back as where you think the trade won't go.