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The best idea for stoploss?

  • #41
  • Jun 7, 2024 8:04am Jun 7, 2024 8:04am
Quoting ryuryu
{quote} If you think that 100% short and 90% long is equal to 10% short and 0% long... Oh... Nothing to discuss then. Anyway I have no time to teach anyone basic math. I just said that there is no positive expectation in using stops. There is no rule how to set it. All your ideas that it must be set on support, resistance, x2 of tp and so on are just dreams and has nothing under that. I repeat: to gain back 30% loss you have to earn 47% (no fees included!). Using stops is the way to lose the deposit. It is just a matter of time. Your stops are free...
u just said "i have no counter argument so im gonna say byebye"

theres no positive expectation in hedge, thats for sure, as we proved.
  • #42
  • Jun 7, 2024 9:08am Jun 7, 2024 9:08am
Quoting RickM
{quote} Hi Pescador You need a pair of glasses because I said the win rate is only about 35%, not draw down 65%. Draw down is about 5 to 7% which is acceptable when chasing huge winners. In live forward testing I add a Cumulative Delta indicator which improves the win rate to 70% but unfortunately doesn’t improve on creating larger winners. Still it improves probability. What’s that crap you wrote about me not understanding high leverage scalping, I am primary a Futures trader where I mostly scalp a DOM on NQ or ES for $50 to $150 a tick and do...



Hi, may I ask you to describe your strategy in details? I was read other threads too, (about orderflow) but cant PM you as Im new at the forum. Thank you
  • #43
  • Jun 8, 2024 7:30pm Jun 8, 2024 7:30pm
Quoting Snowman95
{quote} Hi, may I ask you to describe your strategy in details? I was read other threads too, (about orderflow) but cant PM you as Im new at the forum. Thank you
Hi Snowman

That particular strategy relies on strong volume to create bigger swings on a Renko Chart. Its best used on US Index's during the first few hours of New York open to hopefully catch some big interday moves.
You then use a Supertrend indicator to take your Buys or Sells signals after filtering out some choppiness. The filtering is the real skill, deciding on which signals you should take or avoid so put your thinking cap on and test a few ideas. I use to run this on a EA about 6 years ago, but its far better trading it manually with a filter
Personally I would use the Cumulative Delta indicator as a filter - mapping the highs and lows of each wave and only trading when they line up with the Supertrend indicator.

I just mentioned this strategy as an example because the game is to take the losses without caring too much while you are waiting for those BIG PROFIT MOVES.
You could also replace the Supertrend indicator also with a 8EMA High / Low and use Renko HA on US500 (Renko 5) or Nasdaq (Renko 7 or 13) so have a look at Rocky's thread which I believe he is using currently the best trading strategy on Forex Factory. (williamsr-sar-x-over-15-minute-candles)

The whole idea is you are trying to stay in while in profit for as long as possible - Lady Luck with offer you a couple of big moves on most nights and that is your payoff.
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Trading thin liquidity at the boundary of the charts
  • #44
  • Jul 1, 2024 1:47am Jul 1, 2024 1:47am
I still always use stop loss in every trading plan, in my experience using stop loss sometimes occurs after the price hits the stop loss not long after that the price reverses and goes towards the profit target, in situations like this sometimes there is a feeling of disappointment maybe because the stop loss is too tight, but also provides lessons to improve the position of entry points.
I trade at FXOpen
  • #45
  • Jul 2, 2024 2:52am Jul 2, 2024 2:52am
It depends on your trading style. I am an order flow trader like most proprietary traders. I put SL just in case of a force major. At the place where my hypothesis for the day would be invalidated. But usually, it won't hit it because I am managing trade based on order flow so if I was wrong - I exit the position earlier.

You are probably a technical analysis trader so it is a must you have it coded and run backtesting simulations. Once coded, it is easy to backtest all your three options over the last 10 years and see the performance stats of each.
  • #46
  • Jul 7, 2024 7:26am Jul 7, 2024 7:26am
Quoting phrixusong
option 1. by percentage of total equity. e.g 50% option 2. by pip e.g 500 pips option 3. by times of TP. e.g 5 time of TP. which option works best? any other better options. thanks
I identify levels where I may cancel my forecast, so I would rather adjust lot size to those levels rather than targets to the money I'm willing to lose/earn. Prefer to utilize charts in full
  • #47
  • Jul 7, 2024 7:55am Jul 7, 2024 7:55am
Keep it simple.

SCALPING 5-10 pips
INTRA-DAY 20-30 pips
SWING TRADING 40-60 pips
POSITION TRADING 100-500 pips

Just look for support and resistance levels and place stops appropriate to your style of trading below or above last point of support or resistance.
  • #48
  • Jul 7, 2024 8:00am Jul 7, 2024 8:00am
the important with stop loss is to be comfortable to loose that amount of money. If you are not, adjust leverage/margin. for my part i like to catch knifes using fibs and i enter at 618/786 and my stop loss/invalidation will be half way behind the 886 and will move it break even a soon as a new support/resistance is made. Also once your stop loss is set never move it unless its to put it break even or in profit. if you move it its probably because you are scared to loose that amount witch bring me back to the first point... be comfortable to loose that amount. if it as to be 10$ so be it just adjust your position size.
Also an other way is to not use stop loss but again the most important is that if you get liquidated the amount of money you loose will not affect you.
  • #49
  • Jul 7, 2024 11:09am Jul 7, 2024 11:09am
ah so u diggin into the nitty gritty of risk management huh gotcha well here's the lowdown on those options u laid out
option 1 slingin half your stack on one play risky biz that could make or break ya quickstyle so unless u got nerves of steel n deep pockets might wanna tread light here
option 2 now we talkin in pips huh 500 pips could be chill or a disaster depends on the volatiltity of what ur playin could be a slow bleed or a fast gain kinda like how fast u drive determines how bad the crash can be right
option 3 times of tp huh rampin up ur target 5x thats bold real bold but hey go big or go home right still gotta watch it cause gettin too greedy can slap ya hard if the market turns on ya
but hey why not mix it up a bit like diversify those approaches a bit of this n a bit of that keep ur plays varied n ur risks spread out kinda like not puttin all ur eggs in one basket ya know keep it spicy keep it safe
so what’s it gonna be stick to the script or write ur own rules either way the game is yours to play just make sure ur ready for whatever comes swingin
IgorFX
  • #50
  • Jul 9, 2024 9:06am Jul 9, 2024 9:06am
For instant orders, setting stop loss and profit targets can cause traders to miss time and price, perhaps modifying the order after the order is active is more efficient, but if you have an EA that can work, setting stop loss and profit target automatically will be more convenient
I trade at FXOpen
  • #51
  • Jul 10, 2024 11:08pm Jul 10, 2024 11:08pm
Quoting fxtimur
For instant orders, setting stop loss and profit targets can cause traders to miss time and price, perhaps modifying the order after the order is active is more efficient, but if you have an EA that can work, setting stop loss and profit target automatically will be more convenient
Precisely.
  • #52
  • Nov 30, 2024 4:42pm Nov 30, 2024 4:42pm
Quoting Jade Gate
Keep it simple. SCALPING 5-10 pips INTRA-DAY 20-30 pips SWING TRADING 40-60 pips POSITION TRADING 100-500 pips Just look for support and resistance levels and place stops appropriate to your style of trading below or above last point of support or resistance.
Thanks so much, Madam
  • #53
  • Dec 2, 2024 10:31am Dec 2, 2024 10:31am
You put your stop a bid or ask beyond a price at which you don't expect the market to return for a while.

Then set your trade size in accordance to the distance between your entry and your stop such that you don't lose your ass.

If it does return to that point, then your trade was wrong. Try again.
There's always money in the banana stand.
  • #54
  • Dec 4, 2024 6:06am Dec 4, 2024 6:06am
The stop should base on how much percentage you want to risk in a single position
  • #55
  • Dec 7, 2024 2:09pm Dec 7, 2024 2:09pm
In my opinion the best stop loss is the one set with the ATR. It depends on the type of trading, for example I use 5-6 ATR units on forex
3 ATR for Stock trading
  • #56
  • Dec 16, 2024 1:33am Dec 16, 2024 1:33am
The best idea for a stop-loss is to set it at a level that protects your capital while allowing enough room for the market to fluctuate. It should be based on technical levels, such as support/resistance or volatility, and align with your risk tolerance.
  • #57
  • Last Post: Dec 16, 2024 4:49am Dec 16, 2024 4:49am
Quoting Jace001
The best idea for a stop-loss is to set it at a level that protects your capital while allowing enough room for the market to fluctuate. It should be based on technical levels, such as support/resistance or volatility, and align with your risk tolerance.
Exactly, I also calculate stop loss and take profit based on the S/R levels and only then choose lot size using pip value which reflect the amount I can afford to lose.
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