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Trading without stop-losses

  • #701
  • Jun 26, 2017 11:59am Jun 26, 2017 11:59am
Quoting mlawson71
{quote} I agree, it's a very bad decision to do that. It's important to stick to one's plans.
Yes, exactly!
  • #702
  • Jun 27, 2017 3:25am Jun 27, 2017 3:25am
Already six months I've been trading without stop loss and I'll keep my trading plan to not use SL.

Hopefully good for me
3Some Candle TacticaL
  • #703
  • Jun 27, 2017 7:00am Jun 27, 2017 7:00am
Quoting mlawson71
Question - do any of you have the urge to move your stop loss when you see the price approaching it?
Not an issue for my system. I will close my trade way before it hits my stop loss, if I happen to be managing the trade. I try not to let any position get worse than 20 pips if I can help it.

Swing trader. Trades off 4H charts.

I use a fairly big stop loss, to buffer any possible unexpected volatility. My trade entries are usually at severely over extended levels, areas where I think most retail traders' trading positions are already stopped out. My entries are so conservative to the point that I can only get into trade once or twice a month. But when I get into a trade, they are usually good.

When I see any position hits -20 pips, I will wait for it to retrace to around -10 pips, and click the close position button without hesitation. There is no need for me to be greedy and try to cling on to the position, as the price is already in an area of extreme over extension, and I could have been wrong about the trade.
'For the market to work, it needs people who think that they can beat it.'
  • #704
  • Jun 28, 2017 12:37am Jun 28, 2017 12:37am
No, but that's because I'm not at my charts all day to watch them.
  • #705
  • Jun 28, 2017 6:46am Jun 28, 2017 6:46am
Quoting Ivanyo
No, but that's because I'm not at my charts all day to watch them.
If you could be watching your charts all day while you trade would you avoid using stop loss? Wouldn't you worry about loss of server or Internet connection?
  • #706
  • Jun 30, 2017 4:20pm Jun 30, 2017 4:20pm
If one use proper management with SL , it will always save invested money with trade. If you cannot put right SL then it is not good to blame it, it is our mistake that we have use wrong SL position in trade.
  • #707
  • Jul 4, 2017 10:07pm Jul 4, 2017 10:07pm
Without SL trading your money is not safe for your capital, it is not properly managed the trade. To save your money from big loss, it is always good to have SL at proper calcuation.
  • #708
  • Jul 6, 2017 8:04am Jul 6, 2017 8:04am
Quoting Butterscotch
Without SL trading your money is not safe for your capital, it is not properly managed the trade. To save your money from big loss, it is always good to have SL at proper calcuation.
How do you prefer to place your stop loss? Which factors do you take into account when you do it?
  • #709
  • Jul 9, 2017 12:30pm Jul 9, 2017 12:30pm
trading without a stoploss is always a mistake. even when you are 99.9% sure where the market will go in the near future, there is still a chance for some fundamental event causing the price to change greatly and you might have your account blown up by a sudden change in price.
  • #710
  • Jul 9, 2017 1:01pm Jul 9, 2017 1:01pm
Yes , very movements in this market is uncertain and despite of good trading knowledge that’s not possible at all to predict the real calculation of this trading place with certainly. so who not like to use Sot loss actually he doesn’t know the volatile .
  • #711
  • Jul 12, 2017 9:59pm Jul 12, 2017 9:59pm
I always trade according to my strategy. If a market is in my favor then I will take more risk according to the analysis. There is no fixed amount in my SL trick but I put it to save my account.
  • #712
  • Jul 12, 2017 10:46pm Jul 12, 2017 10:46pm
i hate stop loss.. i set my trading and hold till profit, If the price against my position I will increase the position ... because I'm not good at analysis. And if my margin runs out it's unlucky anymore , just my opinion
  • #713
  • Jul 13, 2017 8:25am Jul 13, 2017 8:25am
Quoting Mr.yen
i hate stop loss.. i set my trading and hold till profit, If the price against my position I will increase the position ... because I'm not good at analysis. And if my margin runs out it's unlucky anymore , just my opinion
Aren't you concerned about losing your Internet or trading platform server connection? Those are my main reasons to use stop loss.
  • #714
  • Jul 13, 2017 8:27am Jul 13, 2017 8:27am
Quoting Mr.yen
i hate stop loss.. i set my trading and hold till profit, If the price against my position I will increase the position ... because I'm not good at analysis. And if my margin runs out it's unlucky anymore , just my opinion
that's good man. your TE supports your opinion
  • #715
  • Jul 13, 2017 8:44pm Jul 13, 2017 8:44pm
Each person has his own trading style
  • #716
  • Sep 14, 2017 8:59am Sep 14, 2017 8:59am
Quoting MoneyZilla
Trading w/o stop losses (SLs) involves hedging. And it is a very powerful way of trading. Instead of closing a losing position one can hedge it and open a new net lot for the new direction. All that made with just one trade. For example 1 lot buy goes wrong and now the sell direction rules out. Open 2 sell lots. 1 net sell remains, the other 1 sell lot is to hedge the original 1 buy lot. Close with multiple closeby to spare some 50% less broker expenses.
It's a Martin Gale?
  • #717
  • Sep 14, 2017 9:08am Sep 14, 2017 9:08am
Quoting SuperPip
{quote} It's a Martin Gale?
With the newest EAs I do not use martingale anymore, but they do support it.
Maadik Hugiis. IQ 69.
  • #718
  • Edited 11:09pm Sep 19, 2017 7:34am | Edited 11:09pm
Quoting Mozak
Already six months I've been trading without stop loss and I'll keep my trading plan to not use SL. Hopefully good for me
Me too. I make sure my pairs are trading in the monthly period PSAR direction for good. If I get W1 and D1 looking in that same direction it confirms the accuracy of my trading direction. With the bar chart I also check to be sure I am trading on the correct side of previous close. See my FFE.
Mecrandie
  • #719
  • Sep 19, 2017 9:32am Sep 19, 2017 9:32am
Quoting mecrandie
{quote} Me too. I make sure my pairs are trading in the monthly period direction for good. If I get W1 and D1 looking in that same direction it confirms the accuracy of my trading direction. With the bar chart I also check to be sure I am trading on the correct side of previous close. See my FFE.
i also keep bottom to top vigilance check in mind before taking the trade,so if it goes bad,it tends to come back,so I don't use stop loss,somettimes using trailing stop.
  • #720
  • Sep 19, 2017 9:34am Sep 19, 2017 9:34am
I cannot bring myself to not to use stop loss. I am far too anxious about random spikes - they happen - and about losing my internet connection, which also happens occasionally.
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