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Stop Loss is not a financial loss 23 replies

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Attachments: Trading with no stop loss
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Trading with no stop loss

Next will be "Trading with no take profit".

BTW you always have your sl. It called margin call.
Observer effect
Quoting titann
Here is an eye opener.... Watch this prop trader without stop loss..live... www.twitch.tv/am_trading @allinazi
how does he pay zero commission?
grist for the mill
Quoting ryuryu
Next will be "Trading with no take profit". BTW you always have your sl. It called margin call.
I prefer trading with no tp but as long as you can always lock your profits behind zones, it ensures maximum profit from a trade but with no sl can be disastrous especially for small equity.
Can I hedge?
I say no stop loss but, you've got to have a kill switch say when your account drawdown exceeds 10%.

I recently got rid of them. best thing I ever did.

But my EA closes all positions when the DD limit is hit which rarely happens. And by then the account has made enough profit to cover the loss.
Give the market little, Aim to take a lot!
See beautiful equity growth... no stops just orders, a profit target, and a kill switch when Draw Down Limit is reached.

I've noticed that this can be applied to many trading strategies that fail with a stop loss.

Attached Image (click to enlarge)
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Give the market little, Aim to take a lot!
Quoting Calsimay
See beautiful equity growth... no stops just orders, a profit target, and a kill switch when Draw Down Limit is reached. I've noticed that this can be applied to many trading strategies that fail with a stop loss. {image}
beautiful
Quoting JackJones
{quote} how does he pay zero commission?
Hi,
Please compile all your questions and ask him during his live stream..... i am sure you have a lot
such as size, maximum DD, techniques, news, and many more. Can you also help me to ask him
on how did he scan through the currencies (i forgot to ask him)... you can learn a lot by observing
him too. Hope this will assist you in your trading experience.
Quoting Calsimay
See beautiful equity growth... no stops just orders, a profit target, and a kill switch when Draw Down Limit is reached. I've noticed that this can be applied to many trading strategies that fail with a stop loss. {image}
thatis hot

but why 10%?

primary goal is to get 100% roi, once achieved you can reduce risk and aim for a small monthly roi or turn up the lots.. all depends i guess.

imo, if trading on higher margin the key is to have reserves elsewhere that you can use to cover it all.. of course expected risks are calculated so given a return to the mean and time you should at least be able to deploy reserves and hold

Quoting titann
{quote} Hi, Please compile all your questions and ask him during his live stream.....
nevermind looks like i watched one of the related links which is not him.,and they are probably trading demo.
grist for the mill
Quoting JackJones
{quote} thatis hot but why 10%? primary goal is to get 100% roi, once achieved you can reduce risk and aim for a small monthly roi or turn up the lots.. all depends i guess. imo, if trading on higher margin the key is to have reserves elsewhere that you can use to cover it all.. of course expected risks are calculated so given a return to the mean and time you should at least be able to deploy reserves and hold {quote} nevermind looks like i watched one of the related links which is not him.,and they are probably trading demo.
My Kill switch is actually lower. 5% but in some pairs with high volatility like GJ and Gold, it warrants rasing to 10% to keep that equity growth looking good.

I absolutely despise sitting at the computer steering at the charts managing trades so that approach would not work for me. And I don't have the nerve. lol.

And to maintain good equity growth you've got to practice good money management hence the kill switch if things go south.

I could never see the consistency I am now seeing using stop losses. There are some phenomenal traders who make it work but I always gave back my profits to the market using stop losses.

Now I just take a basket of trades, when they're in profit EA closes trades. Occasionally when things go south, EA flips that kill switch at set max drawdown.
Give the market little, Aim to take a lot!
Gainfully employed is absolutely no need for SL and risks is only limited to daydreaming, lazy, delusional disorder, health issue or incapacitated.
  • Post #92
  • Quote
  • Edited Oct 8, 2020 2:08am Oct 7, 2020 11:07pm | Edited Oct 8, 2020 2:08am
Quoting Calsimay
{quote} My Kill switch is actually lower. 5% but in some pairs with high volatility like GJ and Gold, it warrants rasing to 10% to keep that equity growth looking good. I absolutely despise sitting at the computer steering at the charts managing trades so that approach would not work for me. And I don't have the nerve. lol. And to maintain good equity growth you've got to practice good money management hence the kill switch if things go south. I could never see the consistency I am now seeing using stop losses. There are some phenomenal traders...
seems we may be on the same page, but personally the kill switch needs to be controlled by the market traders instinct- anyone can place a trade even a script or such, but can it make a decision as to what is and isn't a good time to take a loss? there are simply too many unknowns, so i'm sure i could not accept that, but others can- tho, congrats for getting to the next level, please enlighten us further
grist for the mill
  • Post #93
  • Quote
  • Edited 7:38am Oct 8, 2020 3:51am | Edited 7:38am
Quoting JackJones
{quote} seems we may be on the same page, but personally the kill switch needs to be controlled by the market traders instinct- anyone can place a trade even a script or such, but can it make a decision as to what is and isn't a good time to take a loss? there are simply too many unknowns, so i'm sure i could not accept that, but others can- tho, congrats for getting to the next level, please enlighten us further
Yes, and It's just a matter of preference and doing what works for you.

There are many different ways to trade and see consistent profit.

If one can actively monitor charts then making a decision to take a loss can come from careful analysis but, I don't like actively monitoring charts and managing trades.

If one is going to use or not use a stop loss their analysis of market direction and timing must be correct.

And you've got to be present to manage the trade into profit if the price goes against you significantly before turning in your favor.

And you've got to be present to close the trade if you're wrong... and things can go wrong pretty quickly.

I don't think I've spent enough time on the charts to have gained enough experience to analyze and time the market correctly...
Give the market little, Aim to take a lot!
Sometimes when action gets a little hectic and I drag and drop tightly packed orders on the chart, I accidentally set up a Stop Loss.
When it happens I panic as I remove it before there's any chance of it getting hit.
I've had some close scrapes but fortunately it never happened. Phew!!

Temperance (restraint in action, thought or feeling) is a virtue.
Quoting Endoephemera
Sometimes when action gets a little hectic and I drag and drop tightly packed orders on the chart, I accidentally set up a Stop Loss. When it happens I panic as I remove it before there's any chance of it getting hit. I've had some close scrapes but fortunately it never happened. Phew!!
That has happened to me many times.

But I am moving from semi-automated to fully automated trading at the moment. Won't have to deal with that again.

EAs open orders exactly where you want them.
Give the market little, Aim to take a lot!
Quoting Calsimay
{quote} Yes, and It's just a matter of preference and doing what works for you. There are many different ways to trade and see consistent profit. If one can actively monitor charts then making a decision to take a loss can come from careful analysis but, I don't like actively monitoring charts and managing trades. If one is going to use or not use a stop loss their analysis of market direction and timing must be correct. And you've got to be present to manage the trade into profit if the price goes against you significantly before turning in your...
well, inconsistent and BIG and consistent and SMALL seem to be about right.

"actively" monitoring I take to mean they are looking at charts 24/7

i've seen your charts and they don't look like someone who has been trading fx for one year, maybe i'm wrong tho.

what is your average TP in pips?
grist for the mill
Until recently I've been a hobby trader. I am no Guru.

The charts you see are old. My trading has evolved significantly for the better over the past few months since I've joined the forex forum.

I started trading in 2018. Testing, validating the teachings of more experienced traders. And, building a system based on simplicity and to fit my lifestyle.

I share the things that are working for me.

Currently, my take profit varies depending on market conditions. Between 10 to 50 points using high lot sizes.
Give the market little, Aim to take a lot!
Quoting HeyYou
{quote} well said. we don't risk all our capital for peanuts. they think they are safe with their arbitrary stop losses... hmmmm.. let's say you lose your edge... the more you trade, the more you lose... therefore, it is far better to trade LESS IMO- but let's say I trade high frequency, even then... I can still withdraw profits. stop loss freaks almost never see profits! that's why they are so angry... been there... been there.
well yes there are many ways to do it blah blah, lets say betting the farm V picking up pennies

but why not both, it depends on the situation of course, ie, i like scripts and i also like to watch a fx pair for two weeks and then scalp a big-lot 5 piper, but i can't always do one or the other or both..

yes the stop loss does incite anger, good point
grist for the mill
Stop loss it helps to ensure the trade will not lose money. Next up is the limit order. A limit order exits parts of a trade when the market expects a certain pullback, but does not hit the profit targets. To avoid large losses, many Forex traders use tight stop-losses.
had to pull the pin on this DD, ouch

will start the rebuild..
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grist for the mill
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