a/cad held the line there, good way to end the month 
grist for the mill
- Joined Feb 2019 | Status: Member | 1,413 Posts
Confucius: the man who broke the mountain was the same man who started ...
- Joined Aug 2005 | Status: 888 | 1,019 Posts
The stop loss is what shows you that your trade was wrong when you started it, and allows that if you failed you can later have time to reflect and money to move forward. It is like saying wow I started a business, with the great advantage of being able to close the company before reaching bankruptcy, which allows me to be more strict in my next company and the possibility of achieving the one with more success
i'm expecting a 80-90% win rate and then betting on it - why would you use a stop if you are 90% certain?
the method here is quantitative, whereas people who use stops are qualitative -- I have knowns, where as you are dealing in unknowns, Take one method and apply it to 400 pairs and for some period it will be 100% right -- but which one and where? well i've given you some examples above.
maybe you like to be proved wrong, but psychologically it will eventually wear on you, unless you're a robot maybe, but even a real robot will get killed on stops one day.. not that my accounts are not at risk either, sure they are with the high risk return account i almost expect them to bust if i can't save them in time.. but as mentioned this is manageable
anyway, rejigged some accounts and will see how i go eur'usd and u/j plus some aussie crosses - lets go !
grist for the mill
- Joined Aug 2005 | Status: 888 | 1,019 Posts
But we Love Technical Witchcraft.I can code an EA for that [Guess <Up or Down>;]; lol
Would you be the guy trying to get something for a 'good price' -
or do you just want to be in the action? the action being where price is most active, these are the lines i drew, this is where price is almost guaranteed to bounce 5-10 pips just because, bananas, so this means code your 'guess' in high volume areas and see what happens?
when price is at 1.3-3x STD do you want to continue pushing it that way,? or is it expected that it will swing back someday, this is where equity management becomes crucial..
alternatively, like i might have said already, buying the big drops , can, if you have the cash, prove to be the most profitable , however this is not what i have looked at doing live, but possibly might do -- i've got my eyes on e/j
grist for the mill
- Joined Aug 2005 | Status: 888 | 1,019 Posts
Imo there's no benefit to not having a SL. It's gambling otherwise?
you might have missed the part where i am on 90%+ expectancy.. now i've never seen a gambler play those odds, let alone be given them by the house - yet others call me the gambler (oerr) when they are betting on magic lines with not much more than 50%exp (if they would even know that), or maybe running 20% but still in profit, however what does 80% loss do to ones mind you might wonder
-- and as mentioned, given equity management and position sizing ++ "smart" leverage exactly why would you use a hard stop now?
given a crop grower can lose it all in one season yet bets on future seasons to recover it, its also gambling, but who else does not do the same on the future? ++remove the mention of gambling as pejorative and well what do you say ?
perhaps easier to understand if you were to play fx with no leverage at all, try it on demo and then figure out how to do that with leverage
maybe thats why the regulators had to limit retail to 30:1 : the spreads might be down but i dont think the crowd is any smarter -- so hopefully now you see gambling in one sense in that there is no control is not a catch-all for all gamblers and a stop-loss doesnt always make sense..
grist for the mill
{quote} 11 pages and about the most interesting comment yet, also kinda cryptic in the double-neg, clap clap
- Joined Aug 2005 | Status: 888 | 1,019 Posts
{quote} Forgive me I'm new!
grist for the mill