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Real Fx traders do not use stoploss

  • #601
  • Apr 17, 2018 10:10am Apr 17, 2018 10:10am
Quoting venividivici
{quote} Agreed, but I just dont like 100 pip sudden spikes lol.
I don't think that any trader does, unless they can predict them before they happen. Then they're the best thing that can happen to a trader.
  • #602
  • Apr 25, 2018 1:21am Apr 25, 2018 1:21am
Quoting Blackship
hi guys, I've heard that pro fx traders who do not use stop losses and this had contributed much controvesy. Anyone who approve or disapprove please comment
It’s fake info; almost all of traders use SL in their trading, yes there have few exceptional traders; but they are very rare in number.
  • #603
  • Apr 25, 2018 1:55am Apr 25, 2018 1:55am
This argument is faulty. There is no data anywhere to show that successful traders use or don't use stop loss. In my years trading Forex one thing is certain;The use of stop loss or no stop-loss depends on the trader's preference for risk (that is is money management plan).

My observation as regards to those I know who are profitable thus far are;

  1. Those who use stop loss usually have large position open
  2. Those who don't use, have some form of trade recovery strategy
  3. Those who use, are often not there to monitor their trade often
  4. Those who don't use are either there or have some form of trade manager that manages their draw down or closes positions manually


My take on this;

  1. Stop-loss have their ups and downs. No value or resistant point, is safe enough to avoid whipsaw of price.
  2. People must choose what suits their personality and trading syle
  3. Stops loss can save you from dangerous unexpected events like the Swiss bank saga of January 15 2015 that took out many traders and brokers.
  4. Don't try to copy people pattern of trading find what's suits you and make it successful. This point cannot be over emphasized

You can speed up your learning process on forex and also try out my system that yields an excess of 15% monthly by reading my book on Amazon

  • #604
  • Apr 26, 2018 5:45am Apr 26, 2018 5:45am
I am really amazed how such a simple thing turned into this huge discussion
  • #605
  • Apr 26, 2018 6:49am Apr 26, 2018 6:49am
Quoting UlliC
I am really amazed how such a simple thing turned into this huge discussion
Me too; but maybe few new traders don’t know the right process! But nice to see, few good answers on the 1st 2 page.
  • #606
  • Apr 28, 2018 11:16am Apr 28, 2018 11:16am
There is no such prove. Some traders do not use stop loss. It doesn't mean all pro traders do not use stop loss. In the book The Millionaire Traders, you will find traders who became millionaire by trading use stop loss. It is all about your knowledge and how efficiently you use your knowledge. Yes one quality is common among all pro traders, they are extremely disciplined.
  • #607
  • May 3, 2018 9:25am May 3, 2018 9:25am
It is not bad thing to be confident in the outcome of a trade you have placed but lets be honest – none of us can replicate the George Soros vs. GBP scenario So I see the SL as one good step of precaution.
  • #608
  • May 16, 2018 10:15pm May 16, 2018 10:15pm
Stoploss is the last thing that i think about.
  • #609
  • May 17, 2018 4:45am May 17, 2018 4:45am
Ok vohunter,
Could you please share what could be higher priority than protecting your account from potential total whipeout
  • #610
  • May 17, 2018 6:21am May 17, 2018 6:21am
Quoting UlliC
Ok vohunter, Could you please share what could be higher priority than protecting your account from potential total whipeout
I'm thinking for a while how do I answer u because I create a portfolio by using more than one product (option, correlation, etc.) and link it together. So my trading is planning the strategy for all situation. Of course, including Collapsing Market. It’s a long story... I can't explain all in a moment. But one thing I learn about stoploss is made me walk in the same loop and block opportunity to create smartway trading.
  • #611
  • May 17, 2018 6:45am May 17, 2018 6:45am
Quoting Blackship
hi guys, I've heard that pro fx traders who do not use stop losses and this had contributed much controvesy. Anyone who approve or disapprove please comment
A trader, especially a newbie like most of us here, should always use a stoploss. Pro traders have had years of experience in the game and can actually gauge how much a market will move, plus they may have huge accounts which go into drawdown and dont mind that. I personally would always use a stoploss no matter what.
Love the life you live, live the life you love
  • #612
  • May 17, 2018 8:54am May 17, 2018 8:54am
Quoting rere35
{quote} A trader, especially a newbie like most of us here, should always use a stoploss. Pro traders have had years of experience in the game and can actually gauge how much a market will move, plus they may have huge accounts which go into drawdown and dont mind that. I personally would always use a stoploss no matter what.
You hit a nail on the head. Pro traders do a number of things, that does not mean that newbies with no experience and little knowledge should do the same.
  • #613
  • May 17, 2018 9:59am May 17, 2018 9:59am
Use a stop loss.

Mental stop losses will blow your account as you will not want to lose the money and let it run longer and longer until you get a margin call.
  • #614
  • May 17, 2018 2:42pm May 17, 2018 2:42pm
Quoting estrago
Use a stop loss. Mental stop losses will blow your account as you will not want to lose the money and let it run longer and longer until you get a margin call.
its a good message. Thanks
  • #615
  • May 22, 2018 2:33am May 22, 2018 2:33am
Quoting Adewumi
Stops loss can save you from dangerous unexpected events like the Swiss bank saga of January 15 2015 that took out many traders and brokers.
Yes, this is why most retail traders should use a stop loss. That CHF saga is still fresh in the memory of the markets. a sudden fall of over 1000+ pips in one day! This event was a lesson to me to always, always use a stop loss. We never know what will happen in the markets from day to day, month to month etc. It was for this reason i am weary of trading the CHF for the forseeable future. The central bank has too much power.
Love the life you live, live the life you love
  • #616
  • May 22, 2018 3:10am May 22, 2018 3:10am
Quoting rere35
{quote} Yes, this is why most retail traders should use a stop loss. That CHF saga is still fresh in the memory of the markets. a sudden fall of over 1000+ pips in one day! This event was a lesson to me to always, always use a stop loss. We never know what will happen in the markets from day to day, month to month etc. It was for this reason i am weary of trading the CHF for the forseeable future. The central bank has too much power.

UTTER UTTER RUBBISH

You think a 20 pip / 50 pip / 100 pip / 150 pip stop loss on EURCHF would have saved your account when the SNB removed the peg?

Go ask the 60+ traders who suffered MASSIVE LOSSES with Alpari UK and have had to set up repayment plans to the Administrators to pay back their huge loses because their stop loss was worthless.

Go ask the hundreds of traders who were using stop losses on any JPY pairs when Fukushima nuclear accident happened.

Go ask the thousands of traders who were using stop losses on the Dow Jones when some fat fingers made it plunge 1000 pips in a few minutes.


See the pattern here?

Ask all of them how their stop-loss helped them.

Stop losses are great until there is a huge event, then it is worthless.

Stop losses can benefit you or screw you. It depends on lots of factors. There is no blanket yes or no answer.
  • #617
  • May 22, 2018 3:13am May 22, 2018 3:13am
Quoting rere35
{quote} Yes, this is why most retail traders should use a stop loss. That CHF saga is still fresh in the memory of the markets. a sudden fall of over 1000+ pips in one day! This event was a lesson to me to always, always use a stop loss. We never know what will happen in the markets from day to day, month to month etc. It was for this reason i am weary of trading the CHF for the forseeable future. The central bank has too much power.

"i am weary of trading the CHF for the forseeable future"

Then you don't know what you are talking about. Do you know WHY the CHF dropped like a stone and why it won't happen again?
  • #618
  • May 22, 2018 4:31am May 22, 2018 4:31am
I'm not 100% agree with your opinion. Many pro trader still using stoploss. Imagine they have big money on their trading account and what happen if they got margin call? There will be a huge loss..so they still using stoploss.
  • #619
  • May 22, 2018 4:51am May 22, 2018 4:51am
Quoting londonboy
{quote} UTTER UTTER RUBBISH You think a 20 pip / 50 pip / 100 pip / 150 pip stop loss on EURCHF would have saved your account when the SNB removed the peg? Go ask the 60+ traders who suffered MASSIVE LOSSES with Alpari UK and have had to set up repayment plans to the Administrators to pay back their huge loses because their stop loss was worthless. Go ask the hundreds of traders who were using stop losses on any JPY pairs when Fukushima nuclear accident happened. Go ask the thousands of traders who were using stop losses on the Dow Jones when some...
Yes i am aware of the losses.

however some stops were triggered it all depends on the broker that a trader was using at the time. remember not all brokers went bankrupt and those brokers that survived the huge crash had stops to protect their clients trading accounts.
Love the life you live, live the life you love
  • #620
  • May 22, 2018 4:52am May 22, 2018 4:52am
Quoting londonboy
{quote} "i am weary of trading the CHF for the forseeable future" Then you don't know what you are talking about. Do you know WHY the CHF dropped like a stone and why it won't happen again?
This is just my personal opinion on the CHF. i will not be trading this pair. I am aware of what happened leading up to the event after doing reasearch. still i stand by my decision to always use a stop loss, always.
Love the life you live, live the life you love
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