Dislikedi don't know what you guys are talking? I keep my trades open for a month or so without sl and never a big spike wiped out my account, obviously my lot sizes are small,anyways no one leaves big lot size unattended.Ignored
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MT4 Trading without GAP and without Excel 669 replies
Do you believe tight stop-losses cause losses in the long run? 76 replies
Do you believe fixed stop-losses cause losses in the long run? 16 replies
How to place large Stop Losses without risking more than few Pips 3 replies
Buy Stop and Sell Stop orders with OCO and Trailing Stop 0 replies
Dislikedi don't know what you guys are talking? I keep my trades open for a month or so without sl and never a big spike wiped out my account, obviously my lot sizes are small,anyways no one leaves big lot size unattended.Ignored
Disliked{quote} So, when you close a lose trade? I mean, how you decide it?Ignored
DislikedLet me summarize my points below: Stop Losses are for rookies, Forex Educators and Market Making Brokers I don't use stop losses at all; I have learned the hard way that stop losses do not work ! However; it does not mean you do not use an exit logic for your positions. relying solely on a stop loss to exit your position is not a good idea. What is the alternative; you may ask me? well here it is: - It depends on your strategy logic. The same reason that got you onto the trade; should get you out of it. - for example; if you trade Donchian breakout;...Ignored
Disliked{quote} On a rookie talk forum suggesting not to use stop loss is not quite a wise thing to do. Yes stop loss is for rookies and it shall stay that way. Cos placing a correct stop loss needs experience. It eliminates the psychological side effects till they learn what it takes to be a trader. It may not sound the most effective way to trade but it certainly serves as a cruitial part of your learning curve. So it is not all bad for educators use that as a tool. Keeping a trade on a time basis is even worse thing to suggest as one bar is enough to...Ignored
Dislikedalso, we must not confuse Stop Loss with Stop Order. you may want to open a position using a Stop Order; which is not what we are talking about here. The stop loss we are talking about is the one used to stop a loss of an open position.Ignored
Disliked{quote} Did you mean trailing stop by the team of Stop Order? Or anything else?Ignored
Disliked{quote} Stop Loss or Trailing Stop fall onto similar category; since their job is to limit the loss of an open position.Ignored
Disliked{quote} But I use the trailing stop with the different purpose! Means; when I get enough number of pips according to my target but till now clear trend; only then I use the trailing stop!Ignored
Disliked{quote} So, when you close a lose trade? I mean, how you decide it?Ignored
Disliked{quote} By all means; if the trailing stop is backtested and improves the performance; then go for it. I personally found that trailing stops hinders my strategy performance.Ignored
DislikedWhat you shouldn't do in forex is to trade without stop-losses. Forex is a very active market and if you trade without stop-losses, you may loose your deposit at once.Ignored
Disliked{quote} just for facts: if you trade with Sl, you can still lose your deposit at onceIgnored
Disliked{quote} While that's possible, wouldn't that mean that the stop loss was very badly placed?Ignored
Disliked{quote} not necessarily. take the CHF depegging, if your SL was 50 pips bellow the market before the collapse, and the broker's next quote was 2000 pips lower, guess where your SL will be filled. of course that is an extreme cause, but any time you put a SL 20 pips bellow market, and it represent say 5% of your account ( some trade even more aggressive) and the market gaps on a news, or on weekend 200 pips ( not that uncommon if you think) you potentially wipe 50% of your account, even though you had a "tight" 20 pips SL in place...Ignored