How do u sleep in peace and leave ur trades open? | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

How long do you leave your trades open? 17 replies

Alternative Sleep Cycles/Whats your sleep cycle? 17 replies

Help - how to modify an EA to leave existing trades open 2 replies

Sleep() function and strategy tester 0 replies

Sleep function question 0 replies

How do u sleep in peace and leave ur trades open?

  • #1
  • First Post: Jan 5, 2010 9:11pm Jan 5, 2010 9:11pm
Setting loss makes me insecure as pips are violatile, i've heard that brokers hunt set loss as well.

so i dont set loss. but what happens if suddenly market reverse tremendously, everything will be gone :|


what do u guys do?
  • #2
  • Jan 5, 2010 9:18pm Jan 5, 2010 9:18pm
I set a stop.

Other than what you have read on forums, what makes you think your broker will "hunt" stops?
  • #3
  • Jan 5, 2010 9:23pm Jan 5, 2010 9:23pm
I loosely trail my stops and reduce leverage at pre-set times. I don't trade on really small TFs, so it's not a big deal. I do set some alerts to trigger at certain points tho.
  • #4
  • Jan 5, 2010 9:33pm Jan 5, 2010 9:33pm
Use a line alerter.

K.I.S.S.
  • #5
  • Jan 6, 2010 1:04am Jan 6, 2010 1:04am
I use stop loss, never trade overnight. And i sleep like a baby.
  • #6
  • Jan 6, 2010 1:36am Jan 6, 2010 1:36am
I'm able to walk away from my computer without looking back for two reasons:

1) I risk no more than 1% of my account per trade.

2) I have trust in my system that it willl win in the long run.
  • #7
  • Jan 6, 2010 1:36am Jan 6, 2010 1:36am
its better to fix 200 pips stoploss,instead of setting no stop.
  • #8
  • Jan 6, 2010 1:47am Jan 6, 2010 1:47am
Quoting EdgarNg
Setting loss makes me insecure as pips are violatile, i've heard that brokers hunt set loss as well.

so i dont set loss. but what happens if suddenly market reverse tremendously, everything will be gone :|


what do u guys do?

I babysit damn near every single trade. I use both hard stops and mental stops. If I do let a trade go unattended I have a hard stop in place and I go on about my business. It doesn't really bother me. If it bothers you then your position size is to large.
  • #9
  • Jan 6, 2010 4:11am Jan 6, 2010 4:11am
i set a stop loss. before i go to sleep i review the trade and set my stop.
Twitter: @forexpokerpro
  • #10
  • Jan 6, 2010 4:34am Jan 6, 2010 4:34am
Quoting EdgarNg
Setting loss makes me insecure as pips are violatile, i've heard that brokers hunt set loss as well.

so i dont set loss. but what happens if suddenly market reverse tremendously, everything will be gone :|


what do u guys do?
I only risk what i feel mentally comfortable with losing.

Once you get to a level of semi to consistently profitable, your mind starts to accept losses with little emotion as you believe you can make it back with interest.

this falls to believing in yourself and your edge in making profits from the markets.
  • #11
  • Jan 6, 2010 4:36am Jan 6, 2010 4:36am
Quoting swingtrader
its better to fix 200 pips stoploss,instead of setting no stop.
that depends on the size of your position in relation to your accounts size swingtrader
  • #12
  • Jan 6, 2010 4:46am Jan 6, 2010 4:46am
Beside set a SL and choose a suitable entry, NOTHING. No need to worry if you've picked your positions correctly in the first place.
Annoying Precision
  • #13
  • Jan 6, 2010 4:50am Jan 6, 2010 4:50am
He made a very good point. If your position size isnt so large you wont worry NEARLY as much, then when the market goes through its normal hiccups you will be much less prone to early exit a good position because your overleveraged .

Quoting GulfCoastPip
I babysit damn near every single trade. I use both hard stops and mental stops. If I do let a trade go unattended I have a hard stop in place and I go on about my business. It doesn't really bother me. If it bothers you then your position size is to large.
Annoying Precision
  • #14
  • Jan 6, 2010 4:58am Jan 6, 2010 4:58am
Quoting BBPI_fxtrader
i set a stop loss. before i go to sleep i review the trade and set my stop.
I do the same.
  • #15
  • Jan 6, 2010 9:06am Jan 6, 2010 9:06am
Provided you are trading in a way that you feel comfortable with then sleeping should be easy when you have positions running. It should be no more difficult then going to work or socialising with positions running so if you can take trades and then head outdoors for a while then personally you should be able to sleep.

So good points though;

Risk- only risk and amount that you are 100% comfortable
SL- should be built into the risk for position sizing. Have a stop loss before the trade is executed, that is when you are setting your trade a SL amount is in place before the execute button is hit.
Sleep- Is needed for trading. The biggest mistakes you make are when you are exhausted.

All in all if the above doesnt give you zzzzzz's then exit your positions before going to bed.

BTW Brokers hunting SL is a myth. In the event of brokers carring out this evil plan they are just as likely to pick up orders that are pending which would be rather silly just to take a couple of dollars off you.
  • #16
  • Jan 13, 2010 3:22am Jan 13, 2010 3:22am
thanks guys.

Very useful tips.
  • #17
  • Jan 13, 2010 3:52am Jan 13, 2010 3:52am
Quoting Zen
I use stop loss, never trade overnight. And i sleep like a baby.
I think this is the best possible option!
A good nightrest is almost even important as a good strategy
  • #18
  • Jan 13, 2010 4:54am Jan 13, 2010 4:54am
Quoting EdgarNg
Setting loss makes me insecure as pips are violatile, i've heard that brokers hunt set loss as well.

so i dont set loss. but what happens if suddenly market reverse tremendously, everything will be gone :|


what do u guys do?
I Trade on Demo so no worries. lol
  • #19
  • Jan 13, 2010 9:14am Jan 13, 2010 9:14am
Have you tried earplugs just in case it's the noise from the street keeping you awake? Glass of milk before going to sleep? Just joking.

Once you enter trade type your stop loss and profit take numbers or set a trailing stop, after that nothing else to do. Mind you stress is part of the trade but it does get easier over time. Never quite goes away, after all it's money yours or someone elses and with that comes responsibility.
  • #20
  • Jan 13, 2010 9:50am Jan 13, 2010 9:50am
Quoting EdgarNg
Setting loss makes me insecure as pips are violatile, i've heard that brokers hunt set loss as well.

so i dont set loss. but what happens if suddenly market reverse tremendously, everything will be gone :|


what do u guys do?

I set a stoploss and accept the risk.
If you set a stoploss and the P/L still makes you nervous than you are not accpeting the risk and trading with way to large lotsizes.
0 traders viewing now