Drawdown or Stop Loss

Thnx soo much Superion, is not as if i don't know i to download NF MT4,but it was not installed on my PC.
Secondly, I will like u to give me more totorial about how to place an order, though am still working on Demo account but i've not gotten in yet, i will like you more enliting on this.How i wish we can both contact on yahoo messanger..here is my [email protected] you can also give me the whole lowdown.

Nice to hear from you soon:
Thanx
samson.

Please heed the advice of the majority of responders and ALWAYS use a stop-loss! I am hard headed and had to blow out 3 accounts in 2 years to learn that painful lesson. If you do not use a stop loss, you will blow out your account----it may take one month or 2 years, but it will happen

That is an interesting strategy there revoke. Maybe one I'll attempt to program if I get talented enough.

You do know that some brokers are known to Stop Loss hunting and poor data feeds hence the move to ECN Brokers with direct feeds.

We've developed another method that doesn't use Stop Losses instead your account equity and account margin to get you out a jam.

All the best with your method of trading...

Hey Samson... what problem are you specifically having? Here is how to open a demo account with NF http://www.northfinance.com/demo-acc...etailed-steps/ . It becomes a piece of cake after a couple of goes.

Oh I don't use messaging software as I'm a bit in the dark ages!

Here's my take on trading without stop losses. If you ever find yourself well under water in a given position, with losses growing by the minute, the sooner you realize that you're in the path of an avalanche, the easier it will be for you to dig yourself from under it. Heck, if you catch it early enough and feel somewhat brave, reverse the position to turn the adverse movement in your favor (be careful, however, not to bury yourself even deeper). As the previous posters pointed out, you can always get back into the market at a much more favorable price later, when the smoke clears. I don't believe that any amount of training can teach you how to let go of a losing position in a timely fashion - it's just not an exact science, and you need to go with your gut feel.

But if you didn't get out in time, and you think that much of the negative move should be over, ask yourself - has there been any change in fundamentals to cause this unexpected and damaging development? If not, then it might be advantageous for you to wait it out, as sudden sellouts often reverse themselves fairly quickly. On several occasions I have made the mistake of setting the stop loss price way too far back (no way it's gonna go there, right?), only to see it triggered and the market turning around soon after hitting it a few hours later, and to realize that my position would have actually not been such a huge loss, or even made a profit. The agony of realizing that doing nothing would have been better than fussing around can only compare to that of parting ways with the money in the first place.

Bottom line is - treat stop loss like you would treat a gun: do not bother with it unless you are fully prepared to use it. A stop loss set too far can do more damage than good, so don't push it beyond your risk tolerance.