#StopLossStrategies types:
1. Fixed Stop-Loss: Set a stop-loss at a specific price level, regardless of market conditions. For example, if you buy a currency pair at 1.2500, you could set a stop-loss at 1.2400 to limit potential losses.
2. Trailing Stop-Loss: This dynamically adjusts as the market moves in your favor. It moves up or down with the market price, but if the price reverses by a certain amount, the stop-loss is triggered. This helps lock in profits while still protecting against significant losses.
3. Percentage-based Stop-Loss: Set your stop-loss based on a fixed percentage of your position size or portfolio. For example, a 2% stop-loss would exit the trade if the price moves 2% against you.
4. ATR-based Stop-Loss: ATR (Average True Range) is a volatility indicator. You can set your stop-loss a multiple of the ATR away from your entry price to account for market volatility. This method adjusts the stop-loss distance based on how volatile the market is.
5. Support/Resistance Stop-Loss: Place your stop-loss just below a support level if you're long or just above a resistance level if you're short. This approach uses key price levels to define areas where the market may reverse.
6. Time-based Stop-Loss: This is more about exiting the trade after a certain period rather than a price level. It’s helpful for trades where you expect quick movements but don't want to be exposed for too long.
These strategies can be used in combination to help manage risk and tailor to your specific trading style.