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Trading without a stoploss

  • #41
  • Jul 23, 2008 1:04pm Jul 23, 2008 1:04pm
Quoting pintto
Wow man he was trying to help you and you bash him for it. If you post a thread asking for comments and a well established trader looks at your thread and posts some advice about hwo to stay in the game, why would you be a jerk to him? The forum is setup and helps a ton of new traders and if you trade that way its fine, but I think in the end your going to get othe rnew traders to think they can too and blow accounts up and lose their trading capital. I find it odd you say you just trade with the trend, yet your doing the opposite when you trade without a stopless cause every longterm full tiem trader sys first rule especially for a new trader is to have your SL set, either mechanically or mentally ready to get out. Its more about perserving your capital not trying to take every risk to grow it. Hopefully the new guys will take someone like Roland's advice and protect what you have, and trade with a SL.
Wow man, obviously you didnt understand anything of what i wrote in my last post. Read it again, maybe you will understand.....and by the way, did Kathy and Boris tell you to use stoplosses ? If you want to use them, then use them. I dont like them and i wont use them. And if you would read the thread you would understand what i mean by trading without a stoploss.
  • #42
  • Jul 23, 2008 2:30pm Jul 23, 2008 2:30pm
Pinto never mind with this guy he is obviously deluded. Guys like him blame their broker, stops, and other people. Don't waste your breath on a guy that has no results or proof he is a decent trader. This could be George Soros posting and he would call it smoke and mirrors. Leave the guy to his boring/obnoxious thread while we make serious money.
  • #43
  • Jul 23, 2008 2:35pm Jul 23, 2008 2:35pm
Quoting Rolandlc33
Pinto never mind with this guy he is obviously deluded. Guys like him blame their broker, stops, and other people. Don't waste your breath on a guy that has no results or proof he is a decent trader. This could be George Soros posting and he would call it smoke and mirrors. Leave the guy to his boring/obnoxious thread while we make serious money.
The results will be here on this thread, pal. Thatīs the end of the discussion.
  • #44
  • Jul 23, 2008 7:46pm Jul 23, 2008 7:46pm
Well this thread's been shot. Hooray for squabbling!

Maybe instead of being so narrow minded on both ends you should try and give some flexibility and look at why the other person is saying what they're saying instead of instantly admonishing their point of view to the garbage bin. Instead of spending all your energy trying to export your mindset onto someone else's trading, perhaps you should look at it in terms of, "Why are they trading this way? What are the benefits? What are the drawbacks to this? How does this relate to my own trading?" Instead of turning this into a christianity vs islam style debate. Spend more energy trying to construct and improve instead of destructing. Focus on what makes your trading good and what makes it work instead of trying to focus on why you think someone else's can't work.
Never underestimate the powers of the Force.
  • #45
  • Jul 24, 2008 7:39am Jul 24, 2008 7:39am
First let me know I went back and re-read your post. Still none of my opinions have changed on it. Second, I have never and doubt I will talk with Kathy and Boris and the only reason I even know who that is is because of the association of the book Roland is in. Roland's website isn't too fancy no, but he is at least a trader trying to help others. You asked for advice and he gave some to you, you flamed him. I agreed with him and don't think its a good idea to tell new members like myself to just don't trade with a SL when I really have yet to find a source that says go ahead its a great idea, then you flamed me for it. The only reason I am posting is becuase people should see how your handling a post of a forum then ask themselves, do I want this type of mentor? In backing up jedi, its important what other people think but instead of playing out the pros and cons of this method, is it really that imprtant to flame people trying to warn you? You could have just easily said to Roland, thanks for the advice but this thread is abotu a no stoploss system. End of story, no finger pointing and no turning a thread into a drama filled fight in the sandbox.
  • #46
  • Jul 24, 2008 9:12am Jul 24, 2008 9:12am
Quoting The Jedi
Well this thread's been shot. Hooray for squabbling!

Maybe instead of being so narrow minded on both ends you should try and give some flexibility and look at why the other person is saying what they're saying instead of instantly admonishing their point of view to the garbage bin. Instead of spending all your energy trying to export your mindset onto someone else's trading, perhaps you should look at it in terms of, "Why are they trading this way? What are the benefits? What are the drawbacks to this? How does this relate to my own trading?" Instead of turning this into a christianity vs islam style debate. Spend more energy trying to construct and improve instead of destructing. Focus on what makes your trading good and what makes it work instead of trying to focus on why you think someone else's can't work.
Although the thread title does invite controversy there is no need for rudeness from posters who clearly haven't read one word of the OPs posts.

Onlinefx, I wish you well with your journal. While I agree that stop orders are usually a bad method to exit or enter the market, I have one question:
If you wake up in hospital after an accident and find that while you've been unconscious, the market has moved 1000pips against you, wouldn't you wish you had used a stop order?
  • #47
  • Jul 24, 2008 2:44pm Jul 24, 2008 2:44pm
Quoting pintto
First let me know I went back and re-read your post. Still none of my opinions have changed on it. Second, I have never and doubt I will talk with Kathy and Boris and the only reason I even know who that is is because of the association of the book Roland is in. Roland's website isn't too fancy no, but he is at least a trader trying to help others. You asked for advice and he gave some to you, you flamed him. I agreed with him and don't think its a good idea to tell new members like myself to just don't trade with a SL when I really have yet to find a source that says go ahead its a great idea, then you flamed me for it. The only reason I am posting is becuase people should see how your handling a post of a forum then ask themselves, do I want this type of mentor? In backing up jedi, its important what other people think but instead of playing out the pros and cons of this method, is it really that imprtant to flame people trying to warn you? You could have just easily said to Roland, thanks for the advice but this thread is abotu a no stoploss system. End of story, no finger pointing and no turning a thread into a drama filled fight in the sandbox.
Hello Pinto,

First of all i never asked for advice and second, i am not trying to be a mentor. If you can tell me where i said that, i would appreciate it. And i did not flame Roland for disagreeing with me, it was for a completely different reason. And as i said, if you read his post and that of others you might find out what i mean. And I have nothing against someone who disagrees with me, i think this is more you personal interpretation than fact. All i am doing here is posting my trades, thatīs it.
  • #48
  • Jul 24, 2008 2:54pm Jul 24, 2008 2:54pm
Quoting euclid
Although the thread title does invite controversy there is no need for rudeness from posters who clearly haven't read one word of the OPs posts.

Onlinefx, I wish you well with your journal. While I agree that stop orders are usually a bad method to exit or enter the market, I have one question:
If you wake up in hospital after an accident and find that while you've been unconscious, the market has moved 1000pips against you, wouldn't you wish you had used a stop order?
Hello Euclid

Thanks for your comment and i really liked your question. Got to honestly tell you i never thought about it that way. I probably wouldnt be too thrilled but on the other hand, the same could happen if i owned a grocery store although i think the financial implications of a situation like that in any other business would be much more severe. I treat forex like a business. The drawdowns are my inventory which i buy to sell back to the market at a premium. And i only buy so much inventory which i think i can easily sell. So even a 1000 pip drawdown with the leverage i am using should not be a problem. But anyway, good question and i might teach my fiancee how to close those positions in case i am knocked out for a while .
  • #49
  • Jul 25, 2008 1:12am Jul 25, 2008 1:12am
Ref #34, #35

Canceled third buy limit at 0.9530. Letīs see what the market is doing from here on and decide the further course of action then.
  • #50
  • Aug 5, 2008 11:09am Aug 5, 2008 11:09am
Ref. #34.#35,#49

Bought 3rd lot at 0,9150 at 04:05 pm GMT
  • #51
  • Aug 12, 2008 1:06pm Aug 12, 2008 1:06pm
Quoting onlinefx
The results will be here on this thread, pal. Thatīs the end of the discussion.
Yes the results did speak. I rest my case with regards to proper stop placement. Your no longer posting and I can certainly see why. There is nothing wrong with losing trades, but to blow thousands of pips because you refused to use a stop is financial suicide. If you had of listened to Pinto or myself you would be enjoying a 30% + month. The writing was on the wall that AUD was overvalued and a shot at parity was a high risk, low reward scenario.
  • #52
  • Aug 22, 2008 10:32am Aug 22, 2008 10:32am
Ref. #34.#35,#49, #50

Bought one final lot AUD/USD at 0,8680 at 03:25 pm GMT

Target on all positions modified to 0,9800.

Next month we will likely go up as fast as we have been falling. Nothing has changed in the Aussie outlook!!!
  • #53
  • Aug 22, 2008 10:34am Aug 22, 2008 10:34am
Quoting Rolandlc33
Yes the results did speak. I rest my case with regards to proper stop placement. Your no longer posting and I can certainly see why. There is nothing wrong with losing trades, but to blow thousands of pips because you refused to use a stop is financial suicide. If you had of listened to Pinto or myself you would be enjoying a 30% + month. The writing was on the wall that AUD was overvalued and a shot at parity was a high risk, low reward scenario.
Roland, you are just an idiot, thatīs all. I have no reason to hide, especially not from you !!! I stand behind my trades!!!
  • #54
  • Last Post: Aug 31, 2008 6:47am Aug 31, 2008 6:47am
Quoting onlinefx
Roland, you are just an idiot, thatīs all. I have no reason to hide, especially not from you !!! I stand behind my trades!!!
Your clueless no doubt.. You embarassed yourself on this thread and that is quite obvious. Maybe if you spent a bit less time spamming my site and more time learning you would improve.

I was also thinking maybe you could wait 6 months if your positions don't come back or even buy more and lower your target again. Your obvioulsy making up the rules as you go.

I wouldn't take you as a client if you paid $1000 per month. Your lack of morals, judgement, and knowledge are quite sad.
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