I know this sounds stupid to most traders .... esp the ones that are strict with money management.
I started trading back in 2004 - and i traded with Stop Loss for 8 years - UNTIL i noticed that my broker was hunting my stops. I was losing more money from my Stops being hunted by my broker than me losing from trades.
I thought long and hard about how to counter this problem that i was experiencing with my broker - then i thought ...may be i should trade without Stop Loss...that way i can concentrate more on my trades.
I started studying the candlestick charts.......and i am now trading safely without stops - i developed this trading method that i call "candlestick pattern recognition strategy'.
I use this strategy everyday - it is very reliable - and i just started this trade journal lately where all my trades will be posted. You can view my forex trades here.
Below is just one of those trades i was trading without SL ( this was back in 2012 - 10th of March) and a bit of how i analyze my charts. I don't even use any indicators ....this system does not need it at all.
The only thing I use together with my system is the CAMARILLA calculator to calculate all my pivot points. I mark them all on my charts and then i am ready to go.
I started trading back in 2004 - and i traded with Stop Loss for 8 years - UNTIL i noticed that my broker was hunting my stops. I was losing more money from my Stops being hunted by my broker than me losing from trades.
I thought long and hard about how to counter this problem that i was experiencing with my broker - then i thought ...may be i should trade without Stop Loss...that way i can concentrate more on my trades.
I started studying the candlestick charts.......and i am now trading safely without stops - i developed this trading method that i call "candlestick pattern recognition strategy'.
I use this strategy everyday - it is very reliable - and i just started this trade journal lately where all my trades will be posted. You can view my forex trades here.
Below is just one of those trades i was trading without SL ( this was back in 2012 - 10th of March) and a bit of how i analyze my charts. I don't even use any indicators ....this system does not need it at all.
The only thing I use together with my system is the CAMARILLA calculator to calculate all my pivot points. I mark them all on my charts and then i am ready to go.