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Trading with no stop loss

  • #221
  • Jan 28, 2021 6:28pm Jan 28, 2021 6:28pm
a/cad held the line there, good way to end the month


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grist for the mill
  • #222
  • Jan 29, 2021 6:27am Jan 29, 2021 6:27am
eur/usd outlook - right in the middle of some nice levels to range play - trending down, so tiny bias selling for now , could be selling till 1.2338 though
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  • #223
  • Jan 30, 2021 1:52am Jan 30, 2021 1:52am
aud/nzd also in the middle so will buy/sell the magnet lines and the rest of it
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  • #224
  • Jan 31, 2021 3:47am Jan 31, 2021 3:47am
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
Confucius: the man who broke the mountain was the same man who started ...
  • #225
  • Edited 8:10pm Jan 31, 2021 4:54pm | Edited 8:10pm
Quoting afevir
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
probably because you're guessing 50/50 double tops and crosses, but fx runs into liquidity, rarely away from it..

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
  • #226
  • Jan 31, 2021 5:03pm Jan 31, 2021 5:03pm
But we Love Technical Witchcraft. I can code an EA for that [Guess <Up or Down>;]; lol
  • #227
  • Feb 2, 2021 8:42pm Feb 2, 2021 8:42pm
Quoting Excelx
But we Love Technical Witchcraft. I can code an EA for that [Guess <Up or Down>;]; lol
price is an auction second by second, so if you consider a conventional auction who would you be?

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
  • #228
  • Feb 24, 2021 6:25pm Feb 24, 2021 6:25pm
still ticking along to end of feb--I've split funds into multiple accounts to try an avoid having to cover correlated swings against me, will get the results online soon
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  • #229
  • Feb 24, 2021 11:56pm Feb 24, 2021 11:56pm
Imo there's no benefit to not having a SL. It's gambling otherwise?
  • #230
  • Edited 6:42pm Feb 25, 2021 5:43pm | Edited 6:42pm
Quoting Btxtrades
Imo there's no benefit to not having a SL. It's gambling otherwise?
11 pages and about the most interesting comment yet, also kinda cryptic in the double-neg, clap clap

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
  • #231
  • Feb 25, 2021 6:54pm Feb 25, 2021 6:54pm
Quoting JackJones
{quote} 11 pages and about the most interesting comment yet, also kinda cryptic in the double-neg, clap clap 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...
Forgive me I'm new!
  • #232
  • Feb 25, 2021 8:14pm Feb 25, 2021 8:14pm
Quoting Btxtrades
{quote} Forgive me I'm new!
i do soapbox a bit but spend time gambling for a living and you will take heat from many people so this aint my first rodeo - then only to see some in the very same cohort acting as if they are not that because x.. hmm well, yeah, a bit of fun is all, good luck
grist for the mill
  • #233
  • Feb 26, 2021 2:27am Feb 26, 2021 2:27am
If you plan on selling trading signals or participate in copy trading as a provider you should ALWAYS use a stop loss. It's easy to spot a good trader, just look at the drawdown figures on their trade explorer. Would you ever subscribe to a system that has a 50% drawdown? There is a right way to lose and a wrong way to lose. This video is a good example of the right way to lose (
Inserted Video
). When things go wrong you bail out and live to trade another day.
  • #234
  • Feb 26, 2021 6:33am Feb 26, 2021 6:33am
Quoting WaveTheoryA
If you plan on selling trading signals or participate in copy trading as a provider you should ALWAYS use a stop loss. It's easy to spot a good trader, just look at the drawdown figures on their trade explorer. Would you ever subscribe to a system that has a 50% drawdown? There is a right way to lose and a wrong way to lose. This video is a good example of the right way to lose ..When things go wrong you bail out and live to trade another day.
i'll make my 1% a day you just sit there tryna copy a hero, i'm all about the gains, i'll stick my 10%pa money in some index matcher / boredom machine

Inserted Video


trade another day? not when you trade like this :

Inserted Video
grist for the mill
  • #235
  • Mar 29, 2021 11:19pm Mar 29, 2021 11:19pm
31 days this month so just on target
grist for the mill
  • #236
  • Mar 30, 2021 3:32am Mar 30, 2021 3:32am
Hey guys,

Let's say you want to use stop losses
How would you do place them easily without thinking twice about it? I mean, like instantaneously
Let's say I want to enter a trade at 1.2020. How do you set them up without using any other indicator than a moving average and the stochastic and knowing that you can't spend too much time calculating them since you're trading the 5 min chart? Is there any way to know where to place them immediately?

And besides, I often see long wicks on candles that can easily hit your stop losses but whose price keeps going up anyway
and I wouldn't want to be stopped out on the short term trend, which could be a tactic used by some whales. Any thoughts about that?

Thanks
Mike
  • #237
  • Mar 30, 2021 11:15pm Mar 30, 2021 11:15pm
Quoting MIC85POU
Hey guys, Let's say you want to use stop losses How would you do place them easily without thinking twice about it? I mean, like instantaneously Let's say I want to enter a trade at 1.2020. How do you set them up without using any other indicator than a moving average and the stochastic and knowing that you can't spend too much time calculating them since you're trading the 5 min chart? Is there any way to know where to place them immediately? And besides, I often see long wicks on candles that can easily hit your stop losses but whose price keeps...
Set the defaults? , unless you know the direction via some fluke or inside knowledge then better to trade the chop
grist for the mill
  • #238
  • Apr 4, 2021 1:08am Apr 4, 2021 1:08am
Don't recommend this to anyone. Stop loss will protect you. Like driving with no seatbelt or not using face mask during covid.

Only morons don't use them.
Love to talk on Discord: DividendGamer#1324
  • #239
  • Edited 8:58pm Apr 5, 2021 8:28pm | Edited 8:58pm
Quoting Varkeer
Don't recommend this to anyone. Stop loss will protect you. Like driving with no seatbelt or not using face mask during covid. Only morons don't use them.
Depends how fast you're going and your condition, not everyone is in the top iq and some people are generally sick as the health system has to rely on it and some are out of luck

Using a stop loss is like driving at 15km/h and bumping into polls and enjoying the broken nose the airbag gives you.

If u follow the herd, expect to be trampled
grist for the mill
  • #240
  • Apr 25, 2021 2:29pm Apr 25, 2021 2:29pm
My take on no sl, if the price has been there before, its likely to go back there again, as long as you have the time and patience and equity to wait, i often run no sl on day trades if i expect a sl hunt, but dont often keep a trade running while i sleep with no sl, if you have a price in your head and keep a eye on your trade at least you wont get stopped out only to see it head your way after.
find a way to make money in your sleep or you work until you die
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