Why I don't trade with a Stop Loss -

I know this sounds stupid to most traders .... esp the ones that are strict with money management.

I started trading back in 2004 - and i traded with Stop Loss for 8 years - UNTIL i noticed that my broker was hunting my stops. I was losing more money from my Stops being hunted by my broker than me losing from trades.

I thought long and hard about how to counter this problem that i was experiencing with my broker - then i thought ...may be i should trade without Stop Loss...that way i can concentrate more on my trades.

I started studying the candlestick charts.......and i am now trading safely without stops - i developed this trading method that i call "candlestick pattern recognition strategy'.

I use this strategy everyday - it is very reliable - and i just started this trade journal lately where all my trades will be posted. You can view my forex trades here.

Below is just one of those trades i was trading without SL ( this was back in 2012 - 10th of March) and a bit of how i analyze my charts. I don't even use any indicators ....this system does not need it at all.

The only thing I use together with my system is the CAMARILLA calculator to calculate all my pivot points. I mark them all on my charts and then i am ready to go.

You have good point, good trading

I'm sorry to break this to you, but your broker was not hunting "your" stops. They were hunting "stops" and the reason you were stopped out is because you had bad entry positions.

I do not agree with this statement, because there is nothing "safe" about trading without a SL

I would very much like to see you continue with your strategy for 6 - 12 months so please load a trade explorer or myfxbook account so we can follow your live results. Let's back it up with hard evidence.

I have a trade explorer loaded already fxinvestfund. ... and you may also view my trade journal here.

Are you a broker?
Because you sound like one.

Like i said above- my strategy may sound stupid to many traders who are strict on money management - and i just found one.
To me - trading without stop loss is much much safer.

You are entitled to your own opinion though.

its always best to allocate stops based on percentage of account and not in pips, and yes many times broker does hunt your stop loss and ultimately it will blow your account, specially while high impact news.

Yes you are right EonFX .... i have experienced that in my trading - and that is why I changed my strategy to suit the situation ....

I know that a lot of traders would have experienced "stop-loss hunting " more than once in their trading and can relate to my experience.

I am not here to change anybody's view about Stop Loss - I am only here to show that there is a possibility that you can trade without a Stop Loss and that I am doing it.

The secret behind trading without stop loss is placing your trades very close to the HIGH of the day. If you know where the HIGH or the LOW is - then trading without Stop Loss is possible.

Have a look at my new Çandlestick Pattern Recognition Strategy'at work....or learn more about it here.

anther trade success without stop loss .... 87 pips!!

Attached Image (click to enlarge)

Led to this .....all without placing stop loss or using Technical indicators

Attached Image (click to enlarge)

It is a great skill set
Worth to spend some time watching this....
Watch this prop trader without stop loss..live...
www.twitch.tv/am_trading
@allinazi