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Trading without stop-losses

  • #721
  • Sep 19, 2017 4:44pm Sep 19, 2017 4:44pm
Quoting mlawson71
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.
If that random spike happens, unless your with a bucket shop broker with guaranteed SL, your actual stop execution might happen on a price where it would be just better not too anymore.
I get the benefits of SL for certain situations ( mainly when you away from computer)...but for big spikes especially when news involved they might do more harm than good.
there is always, always another trade!!
  • #722
  • Sep 19, 2017 8:44pm Sep 19, 2017 8:44pm
Quoting profitfarmer
{quote} If that random spike happens, unless your with a bucket shop broker with guaranteed SL, your actual stop execution might happen on a price where it would be just better not too anymore. I get the benefits of SL for certain situations ( mainly when you away from computer)...but for big spikes especially when news involved they might do more harm than good.
If you stick to the monthly period in PSAR direction, those random correction spikes will mostly be in your favor. When unsure shrink your lot to 0.01 or 1000 and wait for your PnL to turn positive before you reload to 0.1 or 1.0.
Mecrandie
  • #723
  • Sep 19, 2017 9:04pm Sep 19, 2017 9:04pm
Quoting profitfarmer
{quote} If that random spike happens, unless your with a bucket shop broker with guaranteed SL, your actual stop execution might happen on a price where it would be just better not too anymore. I get the benefits of SL for certain situations ( mainly when you away from computer)...but for big spikes especially when news involved they might do more harm than good.
In theory SL is a good precaution. But experience has shown that it hardly deploys when you want it to. Either too early or too late with heavy losses.
Mecrandie
  • #724
  • Sep 19, 2017 9:36pm Sep 19, 2017 9:36pm
Quoting mecrandie
{quote} In theory SL is a good precaution. But experience has shown that it hardly deploys when you want it to. Either too early or too late with heavy losses.
my view.
and the reason i like to think in equity protection as a whole, vs. individual stop loss orders on each trade.
there is always, always another trade!!
  • #725
  • Sep 19, 2017 9:54pm Sep 19, 2017 9:54pm
Quoting mlawson71
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.
Figure out the right market direction with your favorite tool. If your monthly chart is looking in the same direction, lock in a trade of 0.01 lot. Wait for it to turn strongly positive before you expand to 0.1 or 1.0 lot. You will notice that most of the daily and weekly correction spikes will be in your favor. See my FFE.
Mecrandie
  • #726
  • Sep 20, 2017 4:05am Sep 20, 2017 4:05am
I am sure, trading without stop loss trading tool is not secure, anyone can lost all of trading capital within very short time if he/she doesn’t use stop loss trading tool! Basically, mostly new traders are unable to understand the value of SL trading tool, that’s why they are not interested in SL trading tool! But I see, almost all of pro traders use SL in their trading!
  • #727
  • Sep 20, 2017 7:43am Sep 20, 2017 7:43am
Quoting mecrandie
{quote} Figure out the right market direction with your favorite tool. If your monthly chart is looking in the same direction, lock in a trade of 0.01 lot. Wait for it to turn strongly positive before you expand to 0.1 or 1.0 lot. You will notice that most of the daily and weekly correction spikes will be in your favor. See my FFE.
It has never occurred to me to do that. I will test this on a demo account first and if I am able to do it properly I will do it on a live account too. Thank you for the advice!
  • #728
  • Sep 20, 2017 7:44am Sep 20, 2017 7:44am
Quoting Majeeda
I am sure, trading without stop loss trading tool is not secure, anyone can lost all of trading capital within very short time if he/she doesn’t use stop loss trading tool! Basically, mostly new traders are unable to understand the value of SL trading tool, that’s why they are not interested in SL trading tool! But I see, almost all of pro traders use SL in their trading!
Every Trader has a responsibility to do his/her best to protect the trade capital and possibly some added profit. Most of the sharings here are about trying new strategies to see whether the staus quo can be improved. For most positions there are almost as many traders buying as there those selling. That shows there are no absolutes.

Just for the thrill of it, set up two demo portfolios, one with SL and the other without. Manage both closely for a year and decide for yourself.
Mecrandie
  • #729
  • Sep 20, 2017 8:50am Sep 20, 2017 8:50am
What is the best and easiest way to place a stop loss and take profit on the MT4 Platform. Can it placed at the same time?
  • #730
  • Sep 20, 2017 2:20pm Sep 20, 2017 2:20pm
Quoting donevans729
What is the best and easiest way to place a stop loss and take profit on the MT4 Platform. Can it placed at the same time?
MT4 allows you to trade in both directions at the same time. Whichever direction makes profit you stay with it and close the other position.
Mecrandie
  • #731
  • Sep 21, 2017 2:08am Sep 21, 2017 2:08am
I use hedging instead of stop-loss
  • #732
  • Sep 21, 2017 2:19am Sep 21, 2017 2:19am
Quoting donevans729
What is the best and easiest way to place a stop loss and take profit on the MT4 Platform. Can it placed at the same time?
A traling stop for the full lot size should close you out if it deploys precisely at the market price you requested.
Mecrandie
  • #733
  • Sep 21, 2017 2:40am Sep 21, 2017 2:40am
Quoting Majeeda
I am sure, trading without stop loss trading tool is not secure, anyone can lost all of trading capital within very short time if he/she doesn’t use stop loss trading tool! Basically, mostly new traders are unable to understand the value of SL trading tool, that’s why they are not interested in SL trading tool! But I see, almost all of pro traders use SL in their trading!
Trade with SL on one demo account and without SL on another demo account for one year and compare results for yourself.
Mecrandie
  • #734
  • Sep 21, 2017 4:45am Sep 21, 2017 4:45am
Quoting zenfx
I use hedging instead of stop-loss
I don’t think it’s a right decision you have. By the way, which strategy supports you to reduce loss? SL or Hedging and how?
  • #735
  • Sep 22, 2017 12:53am Sep 22, 2017 12:53am
Quoting BenDunk
{quote} I don’t think it’s a right decision you have. By the way, which strategy supports you to reduce loss? SL or Hedging and how?
Hedging is just an opposite trade that gains when you are losing on your primary trade. It takes away the need to close your trade until you want to take profit. But stop loss closes the trade once the loss crosses the maximum acceptable risk level. Hedging allows you to take advantage of all friendly spikes while stop loss may close you out just before a friendly spike.
Mecrandie
  • #736
  • Sep 22, 2017 2:29am Sep 22, 2017 2:29am
Quoting mecrandie
{quote} Hedging is just an opposite trade that gains when you are losing on your primary trade. It takes away the need to close your trade until you want to take profit. But stop loss closes the trade once the loss crosses the maximum acceptable risk level. Hedging allows you to take advantage of all friendly spikes while stop loss may close you out just before a friendly spike.
"hedging" in retail forex is anything but a fancy way of going flat and paying double spread+commission to do so.
your broker will love you for doing it.
there is about zero real advantage vs closing your trade and re-opening the same point you are prepared to take off one side of your "hedged trade".

friendly spike? in hindsight, most probable.
there is always, always another trade!!
  • #737
  • Edited 3:17am Sep 23, 2017 3:07am | Edited 3:17am
Trade the balance and manage the equity
Repeat
  • #738
  • Oct 7, 2017 8:32am Oct 7, 2017 8:32am
Quoting mecrandie
{quote} Hedging is just an opposite trade that gains when you are losing on your primary trade. It takes away the need to close your trade until you want to take profit. But stop loss closes the trade once the loss crosses the maximum acceptable risk level. Hedging allows you to take advantage of all friendly spikes while stop loss may close you out just before a friendly spike.
I guess this is your hedging in action. Before you advice anybody, make sure you know what are you taling about and prove in action. Any idiot can say anything and internet like paper will take any shit.

https://www.forexfactory.com/showthr...2#post10367242
  • #739
  • Oct 9, 2017 9:56pm Oct 9, 2017 9:56pm
Quoting jdieieh
{quote} I guess this is your hedging in action. Before you advice anybody, make sure you know what are you taling about and prove in action. Any idiot can say anything and internet like paper will take any shit. https://www.forexfactory.com/showthr...2#post10367242
Enjoy my all green FFE. No free tutoring. Faceless fool.
Mecrandie
  • #740
  • Oct 10, 2017 8:30am Oct 10, 2017 8:30am
I think you can trade without a stop loss if you trade very small positions relative to the size of your account, but I can't see a day trader or scalper doing this. Leverage is usually used much more and news or sudden spikes would kill your account in an instant.
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