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Real Fx traders do not use stoploss

  • #281
  • Nov 21, 2012 4:35am Nov 21, 2012 4:35am
I only don't like to use TP, I like to leave it free to fly... but SL is a must for me
  • #282
  • Nov 23, 2012 4:39am Nov 23, 2012 4:39am
Wow, this is the worst advice ever. You are setting yourself a death trap if you don't place a Stop Loss in every trade.
  • #283
  • Nov 26, 2012 10:55pm Nov 26, 2012 10:55pm
Markets will do us the eventual result of Martingale.
http://classic.zulutrade.com/TradeHi...aspx?pid=63559
  • #284
  • Dec 1, 2012 12:58am Dec 1, 2012 12:58am
it is with joy that i now announce that my trades are finally working properly.

i will never again use a stop loss.

every position that i enter will result in my taking a positive profit.

my trading journal can be found in the trading journals section of this forum as silverstar4x personal trading journal

Inserted Video
testing 1,2,3...
  • #285
  • Dec 1, 2012 1:58am Dec 1, 2012 1:58am
Quoting silverstar4x
it is with joy that i now announce that my trades are finally working properly.

i will never again use a stop loss.

every position that i enter will result in my taking a positive profit.

my trading journal can be found in the trading journals section of this forum as silverstar4x personal trading journal

http://www.youtube.com/watch?v=fLexgOxsZu0
Your account shows 8 trades in 6 days.

If you're still ahead 12 months from now, I'll be convinced....... well, maybe
  • #286
  • Dec 1, 2012 3:53am Dec 1, 2012 3:53am
Stop loss is very useful for traders who have good risk analysis and keen eye on market. Most of them trade without SL, but pay the price in huge loss before hitting to Margin Call. I think if u are good in trending and have good grab over indicators then u pay little loss.
  • #287
  • Dec 1, 2012 6:46am Dec 1, 2012 6:46am
Some people trade without stops and able to consistently increase their account, and some peope just end up blowing it out.

BUt one thing is for sure, you will get into situations where you find youself in an equity drawdown, just hoping, praying, and wondering why the hell you ever got into this whole no stop loss wagon in the first place.

If you come out of that successful, it will reinforce your belief in no stop loss, but you'll probably start devising strategies to lessen the effect of feeling hopeless i.e hedging, gridtrading, etc.

IF you don't come out successful, you will be cursing the no stop loss idea left and right. And think anyone who does it is a newbie or doens't understand risk management.

For me, I believe it can work if you do it 'right' . There are proofs out there people making decent returns from it.However i trade with a stop because i'm a daytrader that only trade one instrument. That means i can't afford losing trade opportunities by getting stuck in a drawdown trade. It's all about trade turnovers in my case, and trading without stop loss reduces my overall profitability.
NocturnalFX is no longer offering commercial services
  • #288
  • Edited 9:46pm Dec 1, 2012 9:30pm | Edited 9:46pm
Quoting hanover
Your account shows 8 trades in 6 days.

If you're still ahead 12 months from now, I'll be convinced....... well, maybe
stop it already.

silverstar4x personal trading journal

Inserted Video
testing 1,2,3...
  • #289
  • Dec 3, 2012 8:43am Dec 3, 2012 8:43am
I don't think they don't use stop loss, but personally I don't like it...I like to trade manually.
  • #290
  • Dec 10, 2012 9:30am Dec 10, 2012 9:30am
IMO not using a stop loss = gambling plain and simple. If you don't use a stop you're leaving the fate of your entire account to chance in the hope that you've got enough margin to keep you out of a margin call if the market trends against your position.

Gambling is not what "real fx traders" do - except when they go to Vegas to enjoy some of their profits form trading professionally of course
Anything can happen.
  • #291
  • Dec 12, 2012 1:48am Dec 12, 2012 1:48am
Let's see... survey says "use a stop loss"
.. but that is what the majority says.
The majority is losing (90 %)
I have not used a stop loss in quite a while ... and my account is in the black. Was in the red when doing what the majority does..
I wonder what's changed...
  • #292
  • Edited 2:27am Dec 12, 2012 2:15am | Edited 2:27am
Quoting Mingary
I wonder what's changed...
the timeline for when you will see your 'red' again. if you aren't smart enough to see that then if you are luck your account will someday give you a lesson on humble pie.

you are the guy fallen off a roof chanting "so far so good... so far so good... so far so good.... ....... .....". no thanks.

edit : that was a 'general you'. you, yourself, might be doing fine with a legit edge. for everyone else no stops is just a means to an end, where the end is pure delusion.
Congratulations ScalaFX for coming out of the closet!
  • #293
  • Dec 12, 2012 2:55am Dec 12, 2012 2:55am
Quoting nubcake
the timeline for when you will see your 'red' again. if you aren't smart enough to see that then if you are luck your account will someday give you a lesson on humble pie.

you are the guy fallen off a roof chanting "so far so good... so far so good... so far so good.... ....... .....". no thanks.

edit : that was a 'general you'. you, yourself, might be doing fine with a legit edge. for everyone else no stops is just a means to an end, where the end is pure delusion.

I have no time to pontificate but the bottom line is that it's all about minimizing risk.
Stop loss = death by a thousand cut.
The fact that all the gurus advocate it (along with all the other trading axioms and tenets) truly means that it's to be avoided.
  • #294
  • Dec 12, 2012 3:58am Dec 12, 2012 3:58am
Quoting Mingary
I have no time to pontificate but the bottom line is that it's all about minimizing risk.
Stop loss = death by a thousand cut.
The fact that all the gurus advocate it (along with all the other trading axioms and tenets) truly means that it's to be avoided.
I think this is only if you set it too tight. What about trend traders who get stopped out 7-8 times out of 10 then on the winners use their stops t trail price and lock in profits?

Stops if used conservatively and based on volatility can be great. If you don't use them at all then what do you do when that "it'll never happen to me" trade comes up and starts trending against you? Where do you pull the plug? -10%, -30%, -60%, margin call? What is your strategy to protect your account when a big move goes against you?
Anything can happen.
  • #295
  • Dec 12, 2012 12:39pm Dec 12, 2012 12:39pm
Quoting Mingary
I have not used a stop loss in quite a while ... and my account is in the black.
In assessing your account balance, are you including the P/L in currently open trades?
  • #296
  • Dec 12, 2012 1:04pm Dec 12, 2012 1:04pm
Quoting Mingary
I have no time to pontificate but the bottom line is that it's all about minimizing risk.
Stop loss = death by a thousand cut.
The fact that all the gurus advocate it (along with all the other trading axioms and tenets) truly means that it's to be avoided.
that's funny what you said about all the gurus advocate the s/l rule,

i can find just as many noobs and gurus who don't believe in s/l.

At the end of the day, most of these guys have no edge whatsoever in the marketplace. 99% look at the same pattern, same indicators, same "trend" as everybody else and think that's their edge. It's all bullshit.

My take, just do whatever that works for you and hope that you don't blow up.
NocturnalFX is no longer offering commercial services
  • #297
  • Dec 12, 2012 1:10pm Dec 12, 2012 1:10pm
I am pretty sure it's just me but I lose money when I use a stop loss.
so what I do is

1) no leverage
2) treat the losers the same as the winners
many, many variations of the following with several positions:

trade 1; it's a loser now down 200 pips
trade 2; it's a winner; up 50 pips

should I take the loss on on the 200? close all for -150 ? Should I take the + 50, probably..

I do the best I can to keep the + 50 and perhaps do more with it
I grind the pips back on the - 200 ... even if it goes to - 500. Over many trades in the black and in the red; I get it all back plus some.
A stop loss forces you to exit usually at the worst possible price.
And then there is the mother of all moves ... against me, then it would be really stupid to bet the farm on every trade; hence no leverage.
  • #298
  • Dec 17, 2012 10:39pm Dec 17, 2012 10:39pm
I'm still not a pro that's why I use stopp loss :-)))
  • #299
  • Dec 18, 2012 2:39am Dec 18, 2012 2:39am
Quoting Blackship
hi guys,

I've heard that pro fx traders who do not use stop losses and this had contributed much controvesy. Anyone who approve or disapprove please comment
I hear real FX traders don't use charts
The best indicator is price.
  • #300
  • Dec 18, 2012 2:53am Dec 18, 2012 2:53am
These are the three mains sources of cash income to brokers:
1. Spread.
2. Stop Loss orders.
3. Buy & Sell Stop orders.

Easy money.

They thanks you for it.
Dont stop to do it please.
That which you give to others, life will return it in spades
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