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Do you use stoploss?

  • #321
  • May 29, 2018 6:53am May 29, 2018 6:53am
Quoting mlawson71
Some people in this thread have mentioned they don't use stop loss. I, personally, think it's necessary, but in the end the important thing is to have a good, profitable strategy, with or without the stop loss.

yes it is, completely agree with you.
  • #322
  • Oct 15, 2019 1:30pm Oct 15, 2019 1:30pm
Quoting NathanAstel
{quote} yes it is, completely agree with you.
Do you prefer to use stop loss?
  • #323
  • Oct 16, 2019 2:10am Oct 16, 2019 2:10am
Completely yes. It is a necessary to avoid the losses. When I first started off, I thought it was not needed and made so many losses. Lesson learnt!
  • #324
  • Oct 16, 2019 12:19pm Oct 16, 2019 12:19pm
Quoting aleks22
Completely yes. It is a necessary to avoid the losses. When I first started off, I thought it was not needed and made so many losses. Lesson learnt!
Me too. I didn't even realize I could, haha.
  • #325
  • Oct 16, 2019 1:34pm Oct 16, 2019 1:34pm
Quoting mlawson71
{quote} Me too. I didn't even realize I could, haha.
Some are afraid of stop-hunts Some do not intentional use stop loss (TP) in a way that it is made in the platforms.. but they do use EA (Expert Advisor) that closes the trade when certain conditions are met or are not met... And yeah, there is a difference if you put/set SL in the platform or if you have it programmed... At least fi you do not use predictable pattern or TP/SL ratio If you want to be paranoid

But as a tool, either automated/programmed or pure SET in some platform.. it is a useful tool to cut/limit exposure.. But at the same time.. you can be stopped too early.. meaning that price did not have much "room" or "turning radius" to come around to your TP. Hope you understand... Well yeah in MATH or stat... it sure does look perfect.. having TP1000 and SL0.1... Epic Risk:Reward ratio... dream... But what good is it if you are in the RED at the end of the month, eventually...

I must say that setting proper SL is an art.. it depends on the market condition(s), past history... timeframe.. everything... I use it dynamically.. meaning it is not the same at all times... Much varies... Letting chart breath and the same time limiting your exposure, specially for spikes... is hard to optimise.. at least for me..

Now, Trailing Stops (TS)... that is a special beast... it might be best of both worlds.. if you can handle it... I haven't used it much till now, but I am aware of it's potential.. depends on the trading style/system...

I use SLs based on past records... Tracking every trade and see what different SL levels would give me... Sometimes you might get MORE in the and.. if you widen it... But yeah, you also expose your insides for it... Again, not a FIX answer, at least I haven't found it .. in (one/main) of my trading style at least..

Also it is important what leverage you use and what broker (because of different stop-out) levels.. which means.. that if you use 500:1 for example.. go all-in, account=position.. and even if the broker has 20% stop-out... you will be margin-called rather quick, should the trade go against you... if you use SL or not...
Margin Call/Stop-out... is automated SL like EMERGENCY CLOSE
Can you afford to take that chance?
  • #326
  • Oct 29, 2019 1:35am Oct 29, 2019 1:35am
Quoting aleks22
Completely yes. It is a necessary to avoid the losses. When I first started off, I thought it was not needed and made so many losses. Lesson learnt!
Same from me; it’s very important t to build a trading habit with the SL tool; there is no alternative!
  • #327
  • Edited 3:28am Oct 29, 2019 3:12am | Edited 3:28am
nope i do not use a stop loss ever
  • #328
  • Oct 29, 2019 10:21am Oct 29, 2019 10:21am
Quoting allinazi
nope i do not use a stop loss ever
So how you close your losing trades? I am curious…..
  • #329
  • Oct 29, 2019 11:05am Oct 29, 2019 11:05am
Quoting ZikriIrfan
{quote} So how you close your losing trades? I am curious…..

hey i build a position, my size willl vary depending on levels. and then i can avg out the bad trades . I use standard deviations style trading. so i start small.
my actual win ration is only 55% but i tend to hold the good trades for longer

it has taken me a while to learn to do it,, like when to add when not to add and what levels to add etc etc etc
  • #330
  • Oct 29, 2019 11:38am Oct 29, 2019 11:38am
Quoting allinazi
{quote} hey i build a position, my size willl vary depending on levels. and then i can avg out the bad trades . I use standard deviations style trading. so i start small. my actual win ration is only 55% but i tend to hold the good trades for longer it has taken me a while to learn to do it,, like when to add when not to add and what levels to add etc etc etc
Well; then what’s your maximum risk reward ratio on per trade?
  • #331
  • Edited 1:09pm Oct 29, 2019 11:59am | Edited 1:09pm
Quoting ZikriIrfan
{quote} Well; then what’s your maximum risk reward ratio on per trade?
to be honest i don't have one and i couldn't ven tell u i just trade have set areas where i will take profits/partials thats it.
  • #332
  • Oct 30, 2019 10:52am Oct 30, 2019 10:52am
Quoting allinazi
{quote} to be honest i don't have one and i couldn't ven tell u i just trade have set areas where i will take profits/partials thats it.
So, how do you deal when you are not available in your monitor?
  • #333
  • Oct 30, 2019 10:54am Oct 30, 2019 10:54am
Quoting ZikriIrfan
{quote} So, how do you deal when you are not available in your monitor?
hey im pretty active so i do set alerts on my phone for prices etc so i will get alerted, but im always monitoring whethere be checking my phone ever 30 mins or so
  • #334
  • Oct 30, 2019 11:34am Oct 30, 2019 11:34am
Quoting allinazi
{quote} hey im pretty active so i do set alerts on my phone for prices etc so i will get alerted, but im always monitoring whethere be checking my phone ever 30 mins or so
That’s the point! Now I got the idea! Thanks for your time & response!
  • #335
  • Nov 22, 2019 6:40am Nov 22, 2019 6:40am
Quoting allinazi
{quote} hey im pretty active so i do set alerts on my phone for prices etc so i will get alerted, but im always monitoring whethere be checking my phone ever 30 mins or so
Then it is more beneficial for you to not to use stop loss since you are always mentoring the chart. It helps. But for the people who does not have or are not willing to spend much time near the computer, the stop loss is a must.
  • #336
  • Nov 22, 2019 7:09am Nov 22, 2019 7:09am
Quoting aleks22
{quote} Then it is more beneficial for you to not to use stop loss since you are always mentoring the chart. It helps. But for the people who does not have or are not willing to spend much time near the computer, the stop loss is a must.

hey you will be surprised how much I’m away from the computer I have a full time
job, I’m not sitting on charts all day

i also hold over nights and weekend
  • #337
  • Nov 22, 2019 2:15pm Nov 22, 2019 2:15pm
What kind of strategy do you use then?
  • #338
  • Nov 22, 2019 3:25pm Nov 22, 2019 3:25pm
Quoting mlawson71
What kind of strategy do you use then?
hey well I base direction on my fundamental bias. And then I trade good levels, working off daily sometimes weekly charts and I swing. I don’t trade big size because then I would need to use a stop.
i use a little standard deviation in there also.
Fundamental as mentioned helped me pick direction and determine the length I stay in trades

but the strategy isn’t the important part, importance is management of risk

one can hVe the best strategy ever but if the risk management is bad it’s not going to work.
  • #339
  • Nov 23, 2019 12:55pm Nov 23, 2019 12:55pm
It's always greed to meet a trader who prefers fundamental analysis, I think most of us stick to the technical one.
  • #340
  • Dec 9, 2019 9:41am Dec 9, 2019 9:41am
1. Definitely yes.
2. So I can protect/secure my balance and to have a bigger risk/reward.
3. Depends on the Technical analyses I have made, as well on the risk/reward to have a bigger profit.
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