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  • #1,127,641
  • Aug 12, 2017 3:27pm Aug 12, 2017 3:27pm
Quoting Stillearnin
{quote} You can't do this because it defeats the purpose of market being dynamic. So even if you use stops you gotta be on your computer ESPECIALLY if your doing trades counter-trend. Those tend to stop way before your 'goal'. @Not-KPMG I didn't know you use stops...so i am curious, on average how big are they if you were to measure them? Pip wise...And how much % of your account you lose if that stop does get hit? And how much % per trade you win when you win? On eurusd for example. EDIT: nevermind i looked at the stats. Yea the key seems to be...
no you don't, I'm not always at my computer.
  • #1,127,642
  • Aug 12, 2017 3:47pm Aug 12, 2017 3:47pm
Quoting Not-KPMG
{quote} Nice. Thanks. I use mental SL.... it's an area / time when I close& reverse it. Slowly. No need to rush it!!! Plus i used to lose big - with or without SL. Think of it - if you don't know where market is going....you always lose. Scalpers 3 pips are odd animal.... So what I did.??? I admitted I'm impatient and 4h chart is not my game. I focused on technicals, remember the news, looking at retrace, trend and positioning. OK? So what now?? Euro positive. Why?? - trend up, the crowd is short, Trumpy is mad, gold is up. Stocks...
"If you long it - no need of SL. 1.20 to 1.23 TP."

no one on this planet can manage to make money w/o stoploss or exit. there is no trend can be traded w/o exit. nothing is absolute.
if ur average reward is >500 pips n RR 1:1 min then stoploss might not be necessary or its is a must regarding to historical average daily range
WaBaS Where are Buyers and Sellers
  • #1,127,643
  • Aug 12, 2017 3:58pm Aug 12, 2017 3:58pm
anyway, market needs traders w/o stoploss to fund real traders
WaBaS Where are Buyers and Sellers
  • #1,127,644
  • Aug 12, 2017 4:46pm Aug 12, 2017 4:46pm
Quoting mr.brown
anyway, market needs traders w/o stoploss to fund real traders
Do you just ignore people with red diamond, I replied 2 times to you and then a while after you ignored me. You will just look at all the posts of those you ignore anyway

Trading is only stressful because you don't make money, that's my conclusion.

I love it, I dream about it, sleep on it and wake up with it being the first thing on my mind
  • #1,127,645
  • Edited 5:51pm Aug 12, 2017 5:11pm | Edited 5:51pm
interesting discussions gents and ladies......

In my experience I can make money also when I am wrong. But I have to risk more that the usual 1-3% per trade. Doing so my protective stop has to be a bit further to give me enough space to "attack a little while defending". So RR is not taken in consideration in this style.

I also use tight stop when I think I can pin point my entry, then RR is taken in consideration in this style.

In both style I always have a stop. (but that is just me).

When we pin point our entries we can "defend a little while attacking", when we do not pin point our entries we have to "attack a little while defending".

The bigger risk comes when I "attack a little while defending" but that is ok, it is ok for me if sometime I lose 10-15% for that day (I have a limit) when on average I make 4-5% a day.

Yes we need to be flexible because the market is dynamic but we also need be flexible in using a looser protective stop(or none at all) as with a rigid stop because both style have advantages/disadvantages depending on market conditions and our ability to read the market properly and pin point our entries (which is not easy).

Of course best is to enter counter trend in the direction of the least resistance in any style.
trading is simple but is simple is not easy.
  • #1,127,646
  • Aug 12, 2017 5:23pm Aug 12, 2017 5:23pm
Quoting Stillearnin
{quote} You can't do this because it defeats the purpose of market being dynamic. So even if you use stops you gotta be on your computer ESPECIALLY if your doing trades counter-trend. Those tend to stop way before your 'goal'. @Not-KPMG I didn't know you use stops...so i am curious, on average how big are they if you were to measure them? Pip wise...And how much % of your account you lose if that stop does get hit? And how much % per trade you win when you win? On eurusd for example. EDIT: nevermind i looked at the stats. Yea the key seems to be...
I'm not sure how you missed my point but you missed it completely. The only times I use stops is when I scalp or use a 1 hour chart for a day trade... period. Yea the market is dynamic but if you, as a trader do not recognize certain patterns, then I would agree with you and that you should stare at the computer 24/7. If you are skilled in recognizing patterns, you should be able to put a stop loss in place and a take profit stop and walk away. Out of ten positions, if you are good, it would not be unreasonable for you to get 7 out of ten plays go your way. If you are not good or inexperienced, then you need to analyze what it is you are doing wrong. That's what I did which turned my profit for year-to-date at 114%. I would call that ok.

Now for not using stops, it puts you in a high risk arena or high rewards. DO NOT try this until you have experienced success in lower risk strategies. I have been stuck in positions for as long as three months but eventually it turns around for high rewards.
Taigen Profit This Month: na
  • #1,127,647
  • Aug 12, 2017 5:54pm Aug 12, 2017 5:54pm
Quoting mr.brown
{quote} "If you long it - no need of SL. 1.20 to 1.23 TP." says Not-KPMG.

no one on this planet can manage to make money w/o stoploss or exit. ...RR 1:1 min then stoploss might not be necessary or its is a must regarding to historical average daily range
What an awesome discussion.

What few people say is, that SL is for peace of mind....and adjusted dynamically. Right?

Now, I misspoke up there.
What i mean is, after entering with trend etc...confirmation... few things....You don't need TO WORRY that MUCH about a loss.

I personally at midnight close 60% positions, put few stops where I like.
So these stops move.

Next day I see the thieves in Japan/China /Aussie have spiked around and maybe hit my stops or 20% my TP
Then i simply reanalyze, wait correction, enter extra.

My demo looks profitable but is horrible risk. I'm 10 times slower on real.

See Friday for example. The robbers were spiking all day loonie and pound!!!!!
Did they hit many stops??? Yeah. Not mine.

So that's what I mean reanalyze and think where/when to use stops.

GL.
Beware of robber banks (RB), bad advisors.
  • #1,127,648
  • Aug 12, 2017 9:11pm Aug 12, 2017 9:11pm
Quoting Not-KPMG
{quote} What an awesome discussion. What few people say is, that SL is for peace of mind....and adjusted dynamically. Right? Now, I misspoke up there. What i mean is, after entering with trend etc...confirmation... few things....You don't need TO WORRY that MUCH about a loss. I personally at midnight close 60% positions, put few stops where I like. So these stops move. Next day I see the thieves in Japan/China /Aussie have spiked around and maybe hit my stops or 20% my TP Then i simply reanalyze, wait correction, enter extra....
"reanalyze and think where/when to use stops."
WaBaS Where are Buyers and Sellers
  • #1,127,649
  • Aug 12, 2017 9:36pm Aug 12, 2017 9:36pm
Quoting mr.brown
{quote} "reanalyze and think where/when to use stops."
When I say I don't use stops it means I don't use stops until I'm into the retrace then I put in a break even stop and eventually a profit stop. I also put in a take profit. Once I'm in-the-money I can walk away from the computer knowing I'll be in profit no matter what happens.
Taigen Profit This Month: na
  • #1,127,650
  • Aug 12, 2017 9:37pm Aug 12, 2017 9:37pm
Quoting ill_be_back
{quote} I think will retrace back UP to PP then more DOWN
You were right about 55. It's just didn't happen Friday. But it wil this week. Looking to sell at it.
  • #1,127,651
  • Aug 12, 2017 9:40pm Aug 12, 2017 9:40pm
Quoting Taigen
{quote} When I say I don't use stops it means I don't use stops until I'm into the retrace then I put in a break even stop and eventually a profit stop. I also put in a take profit. Once I'm in-the-money I can walk away from the computer knowing I'll be in profit no matter what happens.
10 pips. That's what I am locking in. TP remains. If it reverse I got 10 pips if not I am keep it going adding 10 pip daily to my SL.
  • #1,127,652
  • Aug 13, 2017 4:02am Aug 13, 2017 4:02am
Quoting denisius
{quote} I didn't use stop in October after 5 pm est when Euro jumps up 200 plus pip within seconds. Immediately cost me 57% of my account, I was eating my dinner just accidentally decided to open trader on my phone, otherwise I could blew it completely. I use stops , just adding about 10 pips to closest s/r level in case shit.
What I mean is that if you didn't use leverage that loss would have been more like 2% .... It's the leverage that kills you not necessarily the lack of stops... If that makes sense?
  • #1,127,653
  • Aug 13, 2017 4:37am Aug 13, 2017 4:37am
Quoting fx1986
{quote} What I mean is that if you didn't use leverage that loss would have been more like 2% .... It's the leverage that kills you not necessarily the lack of stops... If that makes sense?
No, leverage has NOTHING TO DO WITH RISK! You can have 1 million : 1 leverage, 2% risk is 2% risk! Leverage is only there if you want to risk more, that's it! But you don't have to! If people can't help themselves that's another story, they should learn self control! Leverage is not a bad thing and it never was.
  • #1,127,654
  • Aug 13, 2017 5:51am Aug 13, 2017 5:51am
You need stops.
You can't be right 100% of the time.... but you need to be right at least most of the time.
Without stops, the account you took months to build can be blown away in an instant over one bad trade.

Trade in a way to trade another day.
  • #1,127,655
  • Aug 13, 2017 5:59am Aug 13, 2017 5:59am
Quoting Nisda_
My advice to newbie here, please do not easily get influence with analysis here or rather better stay away. Always listen to YOURSELF and TRUST your OWN judgement!
*And keep losing.

There I added that bit for you, because your advise is ridiculous, you want a newbie to listen and trust himself alone? Then how the bleeding fuck does he/she/erm learn? Lol
Read in between the price!!!
  • #1,127,656
  • Aug 13, 2017 6:09am Aug 13, 2017 6:09am
Quoting calebfx
{quote} *And keep losing. There I added that bit for you, because your advise is ridiculous, you want a newbie to listen and trust himself alone? Then how the bleeding fuck does he/she/erm learn? Lol

  • #1,127,657
  • Aug 13, 2017 6:10am Aug 13, 2017 6:10am
Quoting okshop
Eu h4 (13 - 18 aug 2017) {image}
Is oil inventory relevant to eurusd?
This is not investment/trading advise. Will not hold accountable for loss
  • #1,127,658
  • Aug 13, 2017 6:13am Aug 13, 2017 6:13am
Quoting EvilEye
You need stops. You can't be right 100% of the time.... but you need to be right at least most of the time. Without stops, the account you took months to build can be blown away in an instant over one bad trade. Trade in a way to trade another day.
Thats is the most important indeed.

Anything can happen in forex.

Cut your losses small.Thats how you become a winner.

  • #1,127,659
  • Aug 13, 2017 6:18am Aug 13, 2017 6:18am
Quoting EvilEye
You need stops. You can't be right 100% of the time.... but you need to be right at least most of the time. Without stops, the account you took months to build can be blown away in an instant over one bad trade. Trade in a way to trade another day.
You don't need to be right most of the time at all
  • #1,127,660
  • Aug 13, 2017 8:26am Aug 13, 2017 8:26am
Quoting yousername
{quote} Is oil inventory relevant to eurusd?
It can be on the USD side, but not to hectic.

The issue the results for inventory every wed/thur. I trade the event every week and profit from it.
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