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Trading Without a StopLoss

  • #21
  • Apr 11, 2013 9:58am Apr 11, 2013 9:58am
no one says you have to have all your capital in your account. What's wrong with having a margin call as a SL if your equity in your account is only a small percentage of your capital?

But if all your eggs are in one basket then trading without a SL will sooner or later (be it 1 month or 5 years) bite you in the end.

The irony is that the longer you survive (assuming you are profitable) the worse that bite will be as you will supposedly have a much larger amount of money at stake after 5 years than you would after 1 month.

Maybe you are 1:1 leveraged, no SL wouldn't be such an issue compared to 50:1, 500:1.

Whatever you do, just control your risk and protect your equity. S/L or no S/L, who cares, the various money management techniques are endless. When you open a trade you put yourself at risk of loss. If that loss is more than you can bare then you are doing something dangerous. Maybe you're into that sorta thing? who knows. Up to you at the end of the day.
Time hides Nothing
  • #22
  • Apr 11, 2013 10:09am Apr 11, 2013 10:09am
What you need to do when you don't trade with a stop loss is the same as what you must do when an elephant is charging you, sit down on the ground, put your head between your legs and kiss your ass goodbye.
  • #23
  • Apr 11, 2013 10:10am Apr 11, 2013 10:10am
Quoting CindyXXXX
no one says you have to have all your capital in your account. Maybe you're into that sorta thing? who knows. Up to you at the end of the day.
Hi bud,, first point you made is a good one as for the last its like its a bit like being tied up and spanked, you either go for it or dont lol, be good
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #24
  • Apr 11, 2013 10:12am Apr 11, 2013 10:12am
Quoting billytt
Hi bud,, first point you made is a good one as for the last its like its a bit like being tied up and spanked, you either go for it or dont lol, be good
haha... You'd know more about that than me sir! Cheers
Time hides Nothing
  • #25
  • Apr 11, 2013 10:13am Apr 11, 2013 10:13am
i have 20.14 balance
3 open positions for sell in ued.jpy
-6.05
-1.07
-0.67
equity almost 12$
got stuck here
reason= never use stop loss
  • #26
  • Apr 11, 2013 10:42am Apr 11, 2013 10:42am
Quoting billytt
hello bud, as soon as i hear the words hedge, i get out ,, hedge is for losers,sooner rather later

Finally some common sense !... I agree with everything you have said here Billy.

Cheers
Master your Mind,,,Master the Market
  • #27
  • Apr 11, 2013 10:48am Apr 11, 2013 10:48am
Quoting CindyXXXX
no one says you have to have all your capital in your account. What's wrong with having a margin call as a SL if your equity in your account is only a small percentage of your capital? But if all your eggs are in one basket then trading without a SL will sooner or later (be it 1 month or 5 years) bite you in the end. The irony is that the longer you survive (assuming you are profitable) the worse that bite will be as you will supposedly have a much larger amount of money at stake after 5 years than you would after 1 month. Maybe you are 1:1 leveraged,...
We are in the game already! Lets see how it goes. I make sure I protect my capital first.
  • #28
  • Apr 11, 2013 10:56am Apr 11, 2013 10:56am
ROFL...

http://m.youtube.com/watch?v=EUtQEJqZhes
Time hides Nothing
  • #29
  • Apr 11, 2013 12:17pm Apr 11, 2013 12:17pm
I think It's depend on your money , when you decide to trade without stop loss you have to consider how many order you place , how much your money , how much your leverage , how much your margin used .. it such a risk and money management . If you trade without stop loss , it's to risk but if you have enough money and trade with proper volume it still acceptable for me .
  • #30
  • Apr 11, 2013 1:41pm Apr 11, 2013 1:41pm
In his blog about quantitative trading, Ernie Chan , explains it well .... i reccomend.

http://epchan.blogspot.com/2007/01/w...search-results

on the right side, in a search box , type in STOP LOSS ..and u will find several articles.
  • #31
  • Apr 11, 2013 2:02pm Apr 11, 2013 2:02pm
I don't leave my trades unattended, therefore i could also not use a SL since i'm there following the market.
but i do use a stop loss mainly for one reason...internet connection can always go down, or your PC can unexpectedly have problems...
I don't want to risk my account because I'm too lazy to place a stop.
  • #32
  • Apr 11, 2013 2:12pm Apr 11, 2013 2:12pm
Quoting markot
In his blog about quantitative trading, Ernie Chan , explains it well .... i reccomend. http://epchan.blogspot.com/2007/01/w...search-results on the right side, in a search box , type in STOP LOSS ..and u will find several articles.
hello markot,, each to their own,, trading should be simple,, i like the way ernie chan says (several times) he used to work here. he used to work there , he used to work somewhere else. i cannot remember if he said or perhaps einstein said keep it simple not simpler.. quantitive trading in my view should be used by people using other peoples money, it just isnt necassary... keep it simple.. i can see how the tabls hopee are trying to be turned with maths and algorhytms hopefully bringing arbritrage into play but jeez there are easy ways to trade,,, be good bud
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #33
  • Apr 11, 2013 2:14pm Apr 11, 2013 2:14pm
Quoting primaguardia
I don't leave my trades unattended, therefore i could also not use a SL since i'm there following the market. but i do use a stop loss mainly for one reason...internet connection can always go down, or your PC can unexpectedly have problems... I don't want to risk my account because I'm too lazy to place a stop.
well said,,, i had that problem only yesterday and i spoke about it in a FF post. pc froze and a couple of grand went down the sewer, but good old stop loss saved me.be good
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #34
  • Apr 11, 2013 5:39pm Apr 11, 2013 5:39pm
If it fits, use it. In case a pc freeze^^ or internet/power outage, best have an automatic stop.

You account +/- % will show if what you're doing is right or not
  • #35
  • Apr 11, 2013 6:17pm Apr 11, 2013 6:17pm
I don't use stop loss. I've used it 3 times and lost all 3 (it was 25-50 pips wide). Now I trade without it, I have enough money in my account to let the losses run until they become positive. I make sure that the carry trade is in my advantage too. I also hedge the trade if it is running a loss and especially before holidays/longer breaks. I have started trading in Sep 2012. So far so good. I base my trade on fundamentals and price action, also I am using Stochastic, moving averages 10-20-50-100-200 and Bollinger bands. Never trade against the trend. And I am still learning as I go. I read every single bit of news I can find: FF, DailyFX, Forex News. Very good/helpful comments from John Kicklighter on Daily FX real time news. Any comments welcome. Thanks.
  • #36
  • Apr 11, 2013 6:30pm Apr 11, 2013 6:30pm
[quote=Beginer3;6597243]I don't use stop loss. . I also hedge the trade if it is running a loss and especially before holidays/longer breaks <<<<<<<<

wow lots of info... one point though (((I also hedge the trade if it is running a loss and especially before holidays/longer breaks))) If you are aware about losses at holidays and longer breaks you should not trade them. That is a start. be good
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #37
  • Apr 11, 2013 6:48pm Apr 11, 2013 6:48pm
Quoting Beginer3
I don't use stop loss. I've used it 3 times and lost all 3 (it was 25-50 pips wide). Now I trade without it, I have enough money in my account to let the losses run until they become positive. I make sure that the carry trade is in my advantage too. I also hedge the trade if it is running a loss and especially before holidays/longer breaks. I have started trading in Sep 2012. So far so good. I base my trade on fundamentals and price action, also I am using Stochastic, moving averages 10-20-50-100-200 and Bollinger bands. Never trade against the...
If by "Hedge", you mean that you open a trade in the opposite direction, you do realise that it makes more sense to simply close the original position do you? You will also lose any advantage that you may have had from the carry.
Some people are unable to accept losses and tell themselves that a trade is not a loser until it is closed
You say that you trade with price action. Well holding a trade even when PA is telling you the opposite is not trading with PA, it is trading with hope.
Please Do Not PM Me With Coding Enquiries
  • #38
  • Apr 11, 2013 7:37pm Apr 11, 2013 7:37pm
Quoting Gumrai
If by "Hedge", you mean that you open a trade in the opposite direction, you do realise that it makes more sense to simply close the original position do you? You will also lose any advantage that you may have had from the carry. Some people are unable to accept losses and tell themselves that a trade is not a loser until it is closed You say that you trade with price action. Well holding a trade even when PA is telling you the opposite is not trading with PA, it is trading with hope.
Gumrai.....stop it.....you're being too logical and I find myself agreeing with you yet again!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #39
  • Apr 11, 2013 7:43pm Apr 11, 2013 7:43pm
Quoting realjumper
Gumrai.....stop it.....you're being too logical and I find myself agreeing with you yet again!
Sorry about that, I promise to try harder to say something stupid in future
Please Do Not PM Me With Coding Enquiries
  • #40
  • Apr 11, 2013 7:49pm Apr 11, 2013 7:49pm
gumrai, i just gave you something, we may not see eye to eye but you'll get therelol. be good
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
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