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Trading without stop loss

  • #61
  • Aug 11, 2017 10:14am Aug 11, 2017 10:14am
Which traders are trading without using any SL, they are going to kill their full trading equity! In order to my long time trading experience, there is no security in Forex; so no way without SL.
  • #62
  • Aug 12, 2017 6:34am Aug 12, 2017 6:34am
Quoting GeorgeBaile
Which traders are trading without using any SL, they are going to kill their full trading equity! In order to my long time trading experience, there is no security in Forex; so no way without SL.
Some people do avoid using stop loss and they are still successful, but I confess that I prefer to use it for my own peace of mind. I don't feel secure when I don't.
  • #63
  • Aug 12, 2017 10:23am Aug 12, 2017 10:23am
Quoting GeorgeBaile
Which traders are trading without using any SL, they are going to kill their full trading equity! In order to my long time trading experience, there is no security in Forex; so no way without SL.
to throw out an idea for you:
instead of using any or every trade an individaual SL...
how about using an equity loss stop, to limit any single or basket trades to take the account deep underwater, but the same time within that field give all the individual trades room to wriggle?
if you subscribe, that forex trading isnt about getting rich quick, home runs, and it inst a race but a marathon, then...
using patient, and smart/conservative position sizes, you would be surprised how infrequent would hit 5-10% equity stop.
there is always, always another trade!!
  • #64
  • Aug 12, 2017 10:33am Aug 12, 2017 10:33am
Quoting mlawson71
{quote} Some people do avoid using stop loss and they are still successful, but I confess that I prefer to use it for my own peace of mind. I don't feel secure when I don't.
the question: does it make you successful overall?
if yes, then it is a good choice.
if not, are you ready to try something different vs. something that said to be working, but not?
there is always, always another trade!!
  • #65
  • Aug 14, 2017 2:25am Aug 14, 2017 2:25am
The stop loss feature is there for a reason. Unless yours risk % and lot size is very small, it might be possible to trade without stop loss. But without stop loss, all you need is a huge impact news if you're trading with a high risk % to blow away your account.
VSA - It's not the best system, BUT the BEST method.
  • #66
  • Aug 14, 2017 8:20am Aug 14, 2017 8:20am
If you know major market trend stop loss is useless because you are doing long-term trading. If your are trading short-term Stop Loss is compulsory but Money Management must TIP TOP
  • #67
  • Aug 14, 2017 8:26am Aug 14, 2017 8:26am
Quoting profitfarmer
{quote} the question: does it make you successful overall? if yes, then it is a good choice. if not, are you ready to try something different vs. something that said to be working, but not?
I don't know whether it's making me more successful, but I am certainly losing less. So I guess the answer is yes?
  • #68
  • Aug 14, 2017 8:52am Aug 14, 2017 8:52am
Quoting SelwynL
The stop loss feature is there for a reason. Unless yours risk % and lot size is very small, it might be possible to trade without stop loss. But without stop loss, all you need is a huge impact news if you're trading with a high risk % to blow away your account.
Since on high impact news most of the time SL won't do anything, but get a fill for you AFTER the big jump in price ( often a gap, or big slippage on fill), perhaps still the position size ( as of the risk potential evaluated before news) should be concern #1 trading around high impact news, or even better stop if your account can be blown by a 50-150 pip move.

Unless a bucketshop most brokers, especially ECN type won't have anything remotely looking as guarantee SL...
there is always, always another trade!!
  • #69
  • Aug 15, 2017 8:21am Aug 15, 2017 8:21am
It depends on time frame. Do not trde without SL on small, but as swing trader it is not necessary. Instead, open lots of but smaller positions, one bad position will not harm your account and wait for until ut floates to profit. Make sure you are on the good side of swap.
  • #70
  • Aug 16, 2017 4:47am Aug 16, 2017 4:47am
In my opinion you need to use it to secure your profits, a Stop loss is not something you should use on every trade you are opening.

Also, remember to invest according to the size of your account, dont be tempted to invest a big amount on 1 position..
  • #71
  • Aug 16, 2017 5:18am Aug 16, 2017 5:18am
Quoting foff00
It depends on time frame. Do not trde without SL on small, but as swing trader it is not necessary. Instead, open lots of but smaller positions, one bad position will not harm your account and wait for until ut floates to profit. Make sure you are on the good side of swap.
I disagree. It depends on how much leverage you are using. If you are swing trading more concentrated positions, you are asking for trouble by not using a stop.
  • #72
  • Aug 16, 2017 8:48am Aug 16, 2017 8:48am
In my experience, who trades without stoploss is not going to be in the market for long. They will be out of money fast. There is a difference between knowing what is your max loss and no stoploss, it takes alot of work to trade with mental stops (in 11 years I still can't trade with only mental stops), your stop should be at the max of 3% of your account, with bigger account (100k+) should be going with 0,5% - 2% stop losses at the max. Stop loss is a way to prevent yourself from going broke in 1 operation. After the weel the S/L was the best invention.
  • #73
  • Aug 17, 2017 12:52am Aug 17, 2017 12:52am
Quoting Madinvestor
{quote} I disagree. It depends on how much leverage you are using. If you are swing trading more concentrated positions, you are asking for trouble by not using a stop.
Well its been a while I am trading without SL successfully. Placing only the smallest lot sizes for my acc. building a grid starting at a good positioned moment and taking out positions once they move into profit. It has some hard moments but the better you position yourself the more you gain. This is never the case using a SL. I am more happier without. If I have calculated that my account can hold 1000 pips against me I am good to go.
  • #74
  • Aug 17, 2017 5:37am Aug 17, 2017 5:37am
I think it down to how you trade. Some people (like me) prefer to use stop losses. I would rather lose a 100 pips than keep a trade going against me and end up blowing my account. Like most things in trading there is no right or wrong answer.
What works for one person probably wont work for someone else. In the same way 2 people doing exactly the same trading strategy will get different results.
  • #75
  • Aug 17, 2017 8:29am Aug 17, 2017 8:29am
Quoting londonboy
I think it down to how you trade. Some people (like me) prefer to use stop losses. I would rather lose a 100 pips than keep a trade going against me and end up blowing my account. Like most things in trading there is no right or wrong answer. What works for one person probably wont work for someone else. In the same way 2 people doing exactly the same trading strategy will get different results.
True, every trading experience is different because people are different and react in different ways. I, personally, think it's a good idea to use a stop loss, but that's just me. If something else works for someone else, more power to them.
  • #76
  • Aug 17, 2017 8:36am Aug 17, 2017 8:36am
Mostly i trade without sl and it success but you must know were to cut your loss
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  • #77
  • Aug 17, 2017 3:59pm Aug 17, 2017 3:59pm
Quoting DwainUK
{quote} Well its been a while I am trading without SL successfully. Placing only the smallest lot sizes for my acc. building a grid starting at a good positioned moment and taking out positions once they move into profit. It has some hard moments but the better you position yourself the more you gain. This is never the case using a SL. I am more happier without. If I have calculated that my account can hold 1000 pips against me I am good to go.
I thought as much. This would never work with large positions because you would be wiped out with a margin call in an instant, but I can see how it would be manageable in bite sized chunks.
  • #78
  • Aug 18, 2017 6:29am Aug 18, 2017 6:29am
The successful traders do apply SL just to ensure that when the odds went against them they still have the chance to cutt their losses.
  • #79
  • Aug 18, 2017 11:43am Aug 18, 2017 11:43am
When I first started trading, I would set a SL for every single trade that was around 1:2 or 1:3 risk to reward ratio. However, now that I am looking at my trades almost every day, I'll either not set a SL or set it for 500 pips.
  • #80
  • Aug 18, 2017 1:20pm Aug 18, 2017 1:20pm
Quoting jollypk
The successful traders do apply SL just to ensure that when the odds went against them they still have the chance to cutt their losses.
ah, the successful traders do this or that...yeah, right.
some probably does, some probably do the opposite, doubt there is one size fit all.

8 months over from the year, yet, if check the members with live TE's it shows like this:
#99Quarters
32.1%
https://cdn-assets.forexfactory.net/...ar441165_2.gif Quarters
one can get into the top100 (for 2017) with 32%...or mere 4% a month!, or so most would surely look down on those returns! yet, on top100!


how does 2017 ranking looks on demo then?
#94NSF-Real
1.4%MTM
https://cdn-resources.forexfactory.n...ault_16x16.png MirrorFund
that is right!, 0.15% monthly return still rank you!, this cant be right!! how so?


Are they all using SL?
Are they all using the 1-2%/trade risk?
This is the top list.
(For various reasons one can be out from it, like added more funds during the year ( like me?), FF's TE not acounting time-weighted return, only absolute return, in comparison of deposit.)
Wouldnt common stat propose that probably half of the traders use SL?
So, where are those text book use of SL, risk of 1-2% traders?
(there is 12000 TE's on the forum, demo and live, and the top list isnt that great!)

to be honest, lots of these great advice about what successful traders are doing or not doing...are coming from traders i am unsure they themselves successful or not, thus qualified to tell.
else it has this hearsay feel, where most read something somewhere, then post it out as his own belief, neither having experience to back it up. proof to show for that living by, or result to support statements.

ps.
jollypk. your post quoted, but the answer isnt pointed at you, rather general one!
there is always, always another trade!!
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