DislikedNow let me get this straight:
1. It is encouraging to me that you could actually built a big account using this kind of philosophy
2. You mean I could be in a position with 30pips SL, then a plane crashes on an important building and my account gets wiped out? Hard to believe, which broker did you use at the time?
3. Same scenario but my trade is on the right side of the explosive move. My SL is ignored and my account grows instantly to millions???Ignored
laugh all you want.. but have you ever tried to get out of a trade during a crisis? Have you ever noticed the slippage on a stop loss just during a minor news event?
All the platforms will freeze up during a server overload. Your stops are usually only on your computer. It used to be really bad during news times. I had the same account going on 7 different computers trying to trade during news times. It's not nearly as bad as it used to be, but I have noticed there are still times of lag during a major news event. You can still be slipped out quite a bit. Trying to exit a trade can still take a while and thats not talking about a major crisis/panic. Tons of people lost their accounts in 08. That is why we have all the US interventions now, trying to make forex a "safer place". (not that I like these interventions, either...)
My broker is the same broker I have right now and it is the largest, most reputable broker out there, IMO. (see my profile)
If you were on the correct side of the trade - you wouldn't be stopped out now would you?
Just my opinion/experience.... I wouldn't leave all my capital on forex. I've been burned before despite using emergency stops.
Forex can bring crazy returns and that is why I am still trading full time.