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joldas Apr 27, 2009 8:59am | Post# 1

Trading without stop-losses
 
Hello, every one!

i have a question that anyone trade without stop-losses, and successed? Trading without stop-loss can be done? has any opinion, plz comment here? thanks.

pqt Apr 27, 2009 10:03am | Post# 2

It can be done...sort of. I have a $1000 working account with a broker. My margin per lot is $500. So each time I enter a trade , I don't set a stop loss but I have a de facto "stop loss" of about 50pips until the margin call. Needless to say, I have to be extra careful when I trade with that account and take only trades that are basically "a sure thing". With that setup, I have been able to make 100-200pips/week (which I withdraw as profits, leaving only the original $1000) and from time to time, got the account blown out. I know there are peeps who will lean on me for being too agressive/careless with my MM but that's beside the point if it works for me.

hilmy83 Apr 27, 2009 10:06am | Post# 3

i have a worst case scenario stop loss (about 5% of equity from entry). But i always exit between 1.5-2% when trade doesn't go my way. I think some pros don't use stop loss when they enter, but they have a mental stop where a trade is proven wrong. Otherwise you're just holding on to hope

joldas Apr 28, 2009 2:01am | Post# 4

i did some trade Without stop loss, earn big, but some times loss big....

Vfforexlee Apr 28, 2009 2:04am | Post# 5

I used to trade without incorporating a stoploss in my system.

Rednose Apr 28, 2009 2:13am | Post# 6

Casino.
 
i did some trade Without stop loss, earn big, but some times loss big....
What you are doing is not trading is gambling, read a little bit over S/R levels and R/R try it in DEMO mode and start developing a system without such a risk factor. Money management is the key for your success. Donīt underestimate it.

Trade well.

Vfforexlee Apr 28, 2009 2:17am | Post# 7

There is a lot more than just money management. It's the knowledge of when a trade is accomplished or not.

Good luck, and if you could come back with that information, you have just cracked the holy grail.

PipHacker Apr 28, 2009 2:53am | Post# 8

I used to trade without incorporating a stoploss in my system.
Well whats your win ratio then?
My stoploss is huge but i do use it.

Vfforexlee Apr 28, 2009 3:24am | Post# 9

Well whats your win ratio then?
My stoploss is huge but i do use it.
My win ratio? 99%.
My overall account size? Under-capitalized, or marginalized.

Having no stoploss is like having no collateral for your mortgage.

Similar to what happened to our economy the last couple of years. If you catch my drift....

fxRichard Apr 28, 2009 9:25am | Post# 10

No stop losses here, but I trade very very short time frame. I do not recommend this if you do not scalp or at least intra day trade.

skorcht Apr 28, 2009 10:30am | Post# 11

It's just Good practice to use stop loss..whether you enter it into the trade or keep it in your head.
You Will get a trade that does NOT come back and you will have to close with Major losses OR have to wait weeks or months for it to return.
ALL that time waiting could have been spent making more money trading.

Cut Losses Short, Let Winners Run.
THAT will take you to the top

fugly Apr 28, 2009 10:55am | Post# 12

i'm in awe of traders who trade without stoploss (by this i mean let it run till a margin call) personally I have no way of ever knowing a 100% which way price will go thats why personally i always use a stop loss.

PipHacker Apr 28, 2009 11:13am | Post# 13

My win ratio? 99%.
My overall account size? Under-capitalized, or marginalized.

Having no stoploss is like having no collateral for your mortgage.

Similar to what happened to our economy the last couple of years. If you catch my drift....
WoW Seems there are lot of traders trading without stoploss. Anyways you said your win ratio is 99% and what about that 1% means what you do if any of you trade go against you?
do you wait till margin call? or like to close your position with a big drawdown?
My Stoploss is -120 Pip's on volatile pairs which rarely hit's. My strategy is very simple. I Just play with Price Action and candles formation.

Atlast Apr 28, 2009 1:58pm | Post# 14

Hello, every one!

i have a question that anyone trade without stop-losses, and successed? Trading without stop-loss can be done? has any opinion, plz comment here? thanks.

Don't do it. Have at least a disaster SL in place always.
Sometimes I have a mental SL depending on the time frame, but never leave a trade on for too long without a real SL in place.
This is the reason why traders mostly lose. With gambling the bet is always fixed (roulette, whatever), but with trading you have the flexibility of not having a fixed bet. That luxury is precisely the reason accounts are blown out; it only takes 1 or 2 trades without a SL to ruin your account. Not having a SL is saying you don't want to lose the trade or you can't afford to lose the trade. The exact wrong attitude.

fxRichard Apr 28, 2009 2:03pm | Post# 15

Depends on your style, I trade tick chart, I am in and out in a matter of seconds sometimes minutes, constantly monitoring the trade, if it turns you simply get out. Nothing but market orders. If you trade longer time frames then yes a stop is highly advised just my .02 though

nAVIN2007 May 3, 2009 4:11pm | Post# 16

Hello, every one!

i have a question that anyone trade without stop-losses, and successed? Trading without stop-loss can be done? has any opinion, plz comment here? thanks.
to trade without a stop loss means u enter trades without truelly accepting a defined risk....5% of people make money in trading, without using stop loss this % would reduce to practically zero

why make a job harder when it almost impossible

PeterFM May 3, 2009 6:09pm | Post# 17

If you're new to trading the answer is....
 
Hello, every one!

i have a question that anyone trade without stop-losses, and successed? Trading without stop-loss can be done? has any opinion, plz comment here? thanks.
No.

Even after you think you have this cracked the answer is No. It'll be several years before your skills are at a level where you can risk keeping disaster stops far enough away to let a trade breathe without closer stops and then your chart assessments and money management had better be very good.

I tried it and the end results can be read in this post since then I've always had a stop worked out before I've entered a trade. Sometimes they're hard stops and sometimes they're mental ones; but I always know when I'm going to get out of a losing trade.

If you're asking this question because your stops are always getting hit, followed by trades moving in the direction you thought they might, then you need to widen your stops. This will mean you need to reduce your trade size to allow a larger stop but this is just another part of the learning curve.

You may also need to look at exactly where you are putting your stops. Are you simply picking any number (such as 30 or 50 pips) or are you applying sound logic (such as strong areas of support/resistance)?

Take a good look at your method before trying to trade without stops and then ask yourself the same question.

joldas May 4, 2009 2:27pm | Post# 18

thanks to all.... some pros. said they do not use stop loss... then how do u cope it? they said hedge etc...

fxRichard May 4, 2009 2:40pm | Post# 19

You simply watch the market, if it turns you get out etc. Stop losses serve 2 purposes: 1) they keep you from being stupid (cmon it will come back etc). 2) They let you walk away from a trade. Just my opinion though.

jinsen May 5, 2009 4:17am | Post# 20

Pick the best spot to trade without stoploss
 
Hi,

If really to trade without stoploss. It best to pick the most utimate entry
for entry. A major resistance or support. A super trend that hasnt retrace
for quite sometime. You got a better probability to survive.

Dont pick a spot on a No where wonderland. May get rob or murder by mr forex...

i still prefer to have stoploss. i hate that feeling of risking 1% and then it goes against me up to 4%. I rather win abit and lose. And hit one super runner trend. Thats the aim.

Reg
jin


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