Trading without stop loss

Hear Hear!

It depends on individuals, but stopless should be considered by most traders. Without stopless means higher risk when market change sharply.

That's right. I never place a trade without stop loss, although this is a matter of every trader and the risk they are willing to face. Nobody knows when the trends will move against us quickly.

Stop loss can hinder you to reach TP, but that's all I thought.

we all know the advantages of trading with stop loss, what are the advantages of not doing that ?

trading without a stop loss, I thought it was too dangerous. the market is difficult to predict with good, therefore we need to be able to have good risk management so that we will be able to minimize the risks of forex properly. To minimize the risk then we need SL when trading

On a long enough timeline, with unlimited funds, having no stop loss is perfectly fine, however we dont have the luxury of unlimited time or money. Forex is a numbers game, money management and trade management are the two key factors (you can even get rid of the strategy to some extent).

Trading with SL- it really depends what you mean by it. You can set a mental Stop loss or a physical stop loss, but they are inherently the same (the physical stop loss would not have removed your risk on the CHF pairs, as trading was stopped and reopened with a gap)... but to have no idea where you can say the trade has turned against you is simply madness.

Ive started trading without a stop loss and it works for me but you have to have enough money to cover your trade

I always use SL in my trading career when I will trade in Forex , since SL is a good feature that every forex broker offering to us, I really like it since it helps me so much to gain better earning and also minimizing the risk that I get from each action that I do in forex, and I agree with Riddick that we must use it to survive from reaching MC.

Every traders got their own criteria for installing stops, it also all depends on how much you can afford to lose at an unsuccessful deal. And look at the trading strategy.

What is your criteria for placing SL then? I usually place mine above the nearest resistance or below the nearest support level on the time frame I where I saw the signal that I used to open a position.

Trading without stop loss trading tool is the most aggressive decision! Obviously, you need to use a specific SL position in your trading according to your trading style! I see, few traders are using hedging trading style instead of SL tool! But I don’t think, it’s a great idea! Yes, from my 1st of trading I use SL and TP in my trading!

In my experience, trading with stop losses kills a portion of my trades that inevitably end up profitable, but they also kill a potion of trades that go way too far into red. You will probably win more often, but you will also lose much bigger if you do not use a stop loss. Depending on your style and strategy, you may or may not want to use them.

I usually set SL above resistance when short and below support when long.
Sometimes trailing SL when the trade is in my favor. Or manually closing it when I don't watch my trades anymore. Adjusting risk by size of lot based on SL.
Not huge gains, but consistent.

As mentioned in other threads, I consider those who don’t use Stop loss as a pure suicides and adrenalin junkies.

I never use a stop loss...........and I still make $$

In the end of the day, that's what is important. I strongly believe in using stop loss, but if something works for you and works well, who am I to judge?

Always always have a stop loss.

Personally, I find it hard to trade without Stop Loss.
It’s a safety net against sudden loss of internet connection and random spikes on the market.

For me, my methodologyallows me to trade without a stoploss, but then again i only trade light so i could literally sit with a 500 pip drawdown and my account would be 8% drawdown. But thats my method of trading.

No stoploss must be done with experience. You will always have a stoploss, whether its static or mental.

Always look after your cash.

This guy talks alot about the psychology, his blog is great for any new traders stepping into the arena of trading.

https://www.tradersreality.com/

Happy Trading guys