DislikedThat's fine and all ... if it goes up first & you're able to lock it in. But what if it doesn't? Let's say it tanks 100 pips & not come back.Ignored
On the other hand you can trade with no stop loss I know that such statement will be shot down immediately and I do not encourage it.
I can however tell you from my experiences. Until very recently I was 'following' a trader, through receiving signals to be exact. His track record was almost 270 trades successful in a space of 35 or so weeks. That is 100% strike rate. His receipe? No stop loss. Do you think anybody is able to get so lucky for more than 6 months?
I do not know and still don't get it. He booked one loss recently, of 1 pip and I think this happened by error.
His max drawdown? It was pretty big, 25%.
At the moment he is sitting on some 4 losing trades (approx 2% of his account all GBP/USD short, first one from around 1.6. in fact he trades GBP/USD only) and as soon as price moves up by 30-40 pips, he openes new trades. Once price retraces, he closes them with profit, hence such track record.
I don't know if there is anything you can take from this, however it looks like it is possible to come out of huge loss with profit...if you have massive account that can handle this.