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Setting Stop Losses 设定止损: Page 2 of 8

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How To Set A Stop Loss Based On A Percentage Of Your Account

Let’s start off with the most basic type of stop: the percentage-based stop loss.

The percentage-based stop uses a predetermined portion of the trader’s account, say 2%, that a trader is willing to risk on a trade.

The percentage risk can vary from forex trader to forex trader -more aggressive ones risk up to 10% of their account while less aggressive ones usually have less than 2% risk per trade.

Once the percentage risk is determined, the forex trader uses his position size to compute how far he should set his stop away from his entry.

This is good right?

A trader is putting a stop, which is in accordance with his trading plan.

This is good trading right?

WRONG!!!

You should always set your stop according to the market environment or your system rules, and not how much you want to lose.

We bet you’re thinking right now, “Huh? That doesn’t make any sense. I thought you said that we need to manage risk.”

We agree that this sounds confusing, but let us explain with an example. You remember Newbie Ned from your Position Sizing lesson don’t you?

Newbie Ned has a mini account with $500 and the minimum size he can trade is 10k units. Newbie Ned decides to trade GBP/USD, as he sees that resistance at 1.5620 has been holding.

As per his risk management rules, Ned will risk no more than 2% of his account per trade.

At 10k units of GBP/USD, each pip is worth $1 and 2% of his account is $10. So, the largest stop Ned can put on is 10 pips, which is what he does on this trade by putting his stop at 1.5630.

10 pip stop just above resistance

But GBP/USD moves over 100 pips a day! He could easily get stopped out at the smallest move of GBP/USD. Because of the position limits his account is set to, he is basing his stop solely on how much he wants to lose instead of the given market conditions of GBP/USD.

Let’s see what happens next.

Stop loss too tight

And bam! Ned got stopped out right at the top, because his stop loss was too tight! And aside from losing this trade, he missed out on a chance to grab over 100 pips!

From that example, you can see that the danger with using percentage stops is that it forces the forex trader to set his stop at an arbitrary price level.

Either that stop will be located too close to entry, like in Newbie Ned’s case, or at a price level that doesn’t take technical analysis into account.

For all you know, you could be setting your stop right at that level where the price could turn and head your way (who hasn’t seen that before?). But because you already got stopped out, you wouldn’t be able to bag those pips! Darn it!

The solution for Ned is to find a broker that suits his trading style and starting capital.

In this case, Ned should trade with a forex broker that allows him to trade micro or even custom lots. At 1k of GBP/USD, each pip is worth $0.10.

In order for Ned to stay within his risk comfort level, he can set a stop on GBP/USD to 100 pips before losing 2% of his account. He now has the ability to set his stop to the market environment, trading system, support & resistance, etc.

资金止损

让我们从最简单的止损类型开始:资金止损。

这也被称为比例止损,因为它使用确定的交易账户比,假设2%,也就是交易者愿意用来冒险的比例。

不同交易者的风险比例不同——较激进的交易者会拿高达账户的10%的金额冒险,而不太激进的,每个交易通常只愿意用低于账户总额的2%冒险。

风险比例一旦确定,交易者会利用他们的头寸规模来计算他们的止损离入场点位多远。

很不错,对吗?

交易者按照交易计划设定好止损。

这是个很好的交易,对吗?

错!!!

你应该根据市场环境和系统规则设定止损,而不是你想要的止损数额。

我们打赌你现在肯定在想,“哈!没理由啊。我记得你说过我们要控制风险。”

我们承认这听起来有些让人不解,让我们举例说明一下。还记得头寸规模课程里的张三吗?

张三以500美元开了一个迷你账户,他能够交易的最小规模是1万单位。张三决定交易英镑/美元,因为该货币对在1.5620阻力位受阻。

根据他的风险管理规则,每次交易,张三只愿拿小于账户总额的2%冒险。

1万单位英镑/美元,每点价值1美元,账户的2%为10美元,所以,张三能够接受的最大止损是10点,这也就是他在这个交易中所做的,把止损设定在1.5630。

但英镑/美元每天变动超过100点!他很容易就止损离场了,即使英镑/美元变动很小。由于他的账户限定了头寸限额,他仅凭想要的最大损失而不是英镑/美元的市场环境设定了止损点位。

让我们看看接下来发生了什么。

嘭!张三恰巧在顶部止损离场了,因为他的止损设定太紧了!除了损失了这次交易,他还错过了抓住超过100点变动的机会。

从这个例子中,你可以看到,使用资金止损的危险在于它迫使交易者将止损设定在任意价位。

止损要么离入场点位太近,如这个例子中张三的做法,要么在一个丝毫未将技术分析考虑在内的位置。

尽管你知道,你可以将止损设定在价格要转向,开始朝对你有利的方向发展的水平(难道没有人见过这种状况吗?),但是由于你已经止损离场了,你不能将那些点位纳入囊中!真讨厌!

为张三提供的解决方法是通过允许其使用微型手或自定义规模的经纪商交易。1千单位英镑/美元,每点价值是0.10美元。

张三要想待在风险适宜区内,他可以对英镑/美元设定100点的止损,在这个范围之内,他的损失都小于账户的2%。现在他可以按照市场状况、交易系统、支撑阻力等设定其止损大小了。