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Is there a FX software that allows me to set my stop/loss at 0?

This entry was posted on Saturday, November 28th, 2009 at 4:27 am and is filed under FX Software. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

3 Responses to “Is there a FX software that allows me to set my stop/loss at 0?”

  1. You might be able to find software that allows you to set a stop loss at 0, but you will be stopped out with a loss on every trade. Every time time you make a trade, there is a spread. Typically, even with highly liquid pairs such as EUR/USD you will have at least a 3 pip spread. If you set a stop loss at 0, you will immediately be stopped out of every trade with a 3 pip loss.
    References :

  2. Check the website below and look for FX software.

    http://money-review-site.com/investment.html
    References :

  3. There may be, but why would you? You have to give a trade time to develop. When I was first starting out, I set my stops too tight, meaning 10 pips. I got stopped out before the trade could run and prices went in the direction I thought they would. There is such a thing as setting your stops too close.

    If you’re momentum trading, then a 15-20 pip stop loss is fine, but if you’re swing or position trading, you need a wider stop, maybe as much as 100 pips or more depending on your trading strategy.

    You can go your stop to breakeven once the trade moves in your direction, but setting it to 0 or 3 pips from the gitgo and you’re going to be stopped out before the trade gets going.
    References :
    I trade derivatives & fx

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