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Trading Without a StopLoss

  • #301
  • Nov 9, 2013 5:59pm Nov 9, 2013 5:59pm
Quoting shellsnail
{quote} You remind me of another BeginnerJoe on another Forex forum. I wonder if you are the same guy.
I probably am.
  • #302
  • Nov 9, 2013 6:00pm Nov 9, 2013 6:00pm
Quoting BeginnerJoe
{quote} Erh, I keep positions precisely to not give brokers commissions. Why should I sell and buy back later when I have already bought ? You are not being logical.
Point taken, but it's the same as closing and then buying again later?
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  • #303
  • Nov 9, 2013 6:02pm Nov 9, 2013 6:02pm
Quoting BeginnerJoe
{quote} I probably am.
I remember reading a thread from you challenging someone to give you a profitable entry. So I guess you have found that haha.
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  • #304
  • Nov 9, 2013 6:04pm Nov 9, 2013 6:04pm
Quoting BeginnerJoe
{quote} Not bad for 4% a month. But no match for my 5% for last 6 days, 3 of which had no volatility. Mine is real account of course. Not sure if yours is demo.
Oh, it is real, and I'm done with you. Have a good live. Bye now.
"To hold, you must first open your hand. Let go." - Lao Tzu
  • #305
  • Nov 9, 2013 6:08pm Nov 9, 2013 6:08pm
Quoting shellsnail
{quote} I remember reading a thread from you challenging someone to give you a profitable entry. So I guess you have found that haha.
Indeed I have. I have the holy grail. They didn't like it so they banned me. They were so used to losing that they saw nothing else was possible.

The reason I challenged them was to find out if they had anything and not to do with my wanting them to give me something. My conclusion was that they had nothing. So it didn't bother me that I left them.
  • #306
  • Nov 9, 2013 6:09pm Nov 9, 2013 6:09pm
Quoting vox dei
{quote} Oh, it is real, and I'm done with you. Have a good live. Bye now.
Ok bye. You give up too quick. That's no way to make it in trading. To seriously make it, you have to give it all.
  • #307
  • Nov 9, 2013 6:16pm Nov 9, 2013 6:16pm
Quoting shellsnail
{quote} Point taken, but it's the same as closing and then buying again later?
Well this brings us back to the original point of the argument. Given that the market is highly unpredictable, it's not right to arbitrarily decide the losing direction is predictable but the winning direction is not. The point is that both are equally unpredictable. Therefore taking a loss is not necessarily the right thing to do. It is just one of the the several options you have. But it has no greater weight than other options.
  • #308
  • Nov 9, 2013 6:17pm Nov 9, 2013 6:17pm
16 trades in 5 month it's easy to have 100% won., i get this in 1 day.
  • #309
  • Nov 9, 2013 6:25pm Nov 9, 2013 6:25pm
Quoting scalpeur
16 trades in 5 month it's easy to have 100% won., i get this in 1 day.
You will be richer than soros by next month. Good job.
  • #310
  • Nov 9, 2013 6:28pm Nov 9, 2013 6:28pm
Quoting BeginnerJoe
{quote} You will be richer than soros by next month. Good job.
On a demo account.
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  • #311
  • Nov 9, 2013 6:30pm Nov 9, 2013 6:30pm
Quoting BeginnerJoe
{quote} Well this brings us back to the original point of the argument. Given that the market is highly unpredictable, it's not right to arbitrarily decide the losing direction is predictable but the winning direction is not. The point is that both are equally unpredictable. Therefore taking a loss is not necessarily the right thing to do. It is just one of the the several options you have. But it has no greater weight than other options.
Agree. If you are indeed buying low in an uptrend and selling high in a downtrend, that is if you got a good read on the market, then exiting at a small profit or BE should not be an issue. Losses shouldn't be entertained.

But back to the idea that you need an extremely strong edge to be able to do that.
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  • #312
  • Nov 9, 2013 6:31pm Nov 9, 2013 6:31pm
I will never put my live account, my original country is ultra communist, 75% tax on your income, number 1 in the world.
  • #313
  • Nov 9, 2013 6:32pm Nov 9, 2013 6:32pm
Quoting scalpeur
I will never put my live account, my original country is ultra communist, 75% tax on your income, number 1 in the world.
But if you're so profitable, why would you be trading your demo actively when you could be taking the same trades on live...?

Well, I wouldn't be questioning this if you weren't so openly bragging about it and belittling others..
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  • #314
  • Nov 9, 2013 6:35pm Nov 9, 2013 6:35pm
Quoting shellsnail
{quote} Agree. If you are indeed buying low in an uptrend and selling high in a downtrend, that is if you got a good read on the market, then exiting at a small profit or BE should not be an issue. Losses shouldn't be entertained. But back to the idea that you need an extremely strong edge to be able to do that.
Given that many have indicated they can live with no stop loss, I'd say you don't need such a great edge. You'd just need to be able to deal with the risks and have countermeasures for them.
  • #315
  • Nov 9, 2013 6:38pm Nov 9, 2013 6:38pm
Quoting scalpeur
I will never put my live account, my original country is ultra communist, 75% tax on your income, number 1 in the world.
Demo pips are useless, you can't buy lunch with it. Also demo candlesticks are like dummies, they never fight back.

Maybe you want to start a hedge fund making demo pips for people. I am convinced you will become the biggest demo pip maker in the world. You will be famous and you get all the girls. I think even communists allow girls completely tax-free.
  • #316
  • Nov 9, 2013 6:39pm Nov 9, 2013 6:39pm
I trade in live account and also demo.

Do you see Ben Johson, run only when he have something to win ?, no ? he need training, trading is same, you need every time to improve, because the market change.
  • #317
  • Nov 9, 2013 6:39pm Nov 9, 2013 6:39pm
Quoting BeginnerJoe
{quote} Given that many have indicated they can live with no stop loss, I'd say you don't need such a great edge. You'd just need to be able to deal with the risks and have countermeasures for them.
Don't disagree.

Your exit strategy is basically to go long and short on the same pair. Perfectly sensible if you ask me.

I think no one on this thread actually questions the virtue of cutting down losses in whatever way possible - it is just that people choose different ways to do it. While I believe that for my method, stop-loss orders don't work well, I don't think it is the case for everyone especially if you include opportunity cost of TIME spent monitoring charts.
Build good relationships with others.
  • #318
  • Edited 6:59pm Nov 9, 2013 6:41pm | Edited 6:59pm
Quoting scalpeur
16 trades in 5 month it's easy to have 100% won., i get this in 1 day.
Well, congratulations. I have demo earnings too, you know...
"To hold, you must first open your hand. Let go." - Lao Tzu
  • #319
  • Nov 9, 2013 6:48pm Nov 9, 2013 6:48pm
Quoting vox dei
{quote} Well, congratulations. I have demo earnings too, you know... {image}
So what is you explanation for the difference in result between demo and real ? Surely not psychology like everyone says ?
  • #320
  • Nov 9, 2013 6:49pm Nov 9, 2013 6:49pm
Good 13 trades in 1 week, lets see in 1 year.

I make 1820 trades, with 99,5 % won in 61 weeks, so what i am lucky ? or something else ?

Don't say it's not possible, in 1950 nobody think can run 100m in less than 10 secondes, but somebody make.
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