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Undergraduate - Senior Setting Stop Losses

How To Set A Stop Loss Based On Support

And Resistance From Charts

The previous lesson discussed how to set stop loss using a

Partner Center
percentage-based amount of your account. Find a Broker

A more sensible way to determine stops would be to base it

on what the charts are saying.

Since we’re trading the markets, we might as well base our

stops on what the markets are showing us… Makes sense,
right?

Advertisement One of the things that we can observe in

price action is that there are times when prices can’t seem to push or break beyon
certain levels.

Often times, when these areas of support or resistance are retested, they could potentially hold
market from pushing through once again.

Setting stops beyond these levels of support and resistance makes sense, because if the marke
does trade beyond these areas, then it is reasonable to think that a break of that area will bring i
more traders to play the break and further push your position against you.
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Man must cease attributing his problems to

his environment, and learn again to
exercise his will and his personal
responsibility.
- Schweitzer Albert

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