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Trading Without a StopLoss

  • #321
  • Nov 9, 2013 8:51pm Nov 9, 2013 8:51pm
Quoting shellsnail
{quote} Don't disagree. Your exit strategy is basically to go long and short on the same pair.
There is no real reason to take a counter-trend trade. My exit strategy is just to take a profit. It's unrelated to entry.
  • #322
  • Nov 9, 2013 8:57pm Nov 9, 2013 8:57pm
Quoting scalpeur
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.
Just be aware of the tail-risks! Don't fall into the trap of hoping that price will come back or adding to losing positions without a fixed plan and I think you're on your way to making millions.


That said, those are what usually kill traders without stop-losses. I am assuming you have been burned before and wouldn't do it again, but if you haven't then who knows when the time will come :/
Build good relationships with others.
  • #323
  • Nov 9, 2013 9:06pm Nov 9, 2013 9:06pm
Quoting shellsnail
{quote} Just be aware of the tail-risks! Don't fall into the trap of hoping that price will come back or adding to losing positions without a fixed plan and I think you're on your way to making millions. That said, those are what usually kill traders without stop-losses. I am assuming you have been burned before and wouldn't do it again, but if you haven't then who knows when the time will come :/
I thing this depend of how you learn to trade, if the teacher teach you 2+2=4, you will get this for the rest of your life.

I learn trading with Oanda, No Hedge, no way to go long and short in the same time, you have to find the good way or you loose money.
  • #324
  • Edited 9:19pm Nov 9, 2013 9:08pm | Edited 9:19pm
Quoting scalpeur
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.
Dude, I have no beef with you, or the way you trade. Your way is simply not my way. I don't have to accept your way, and you don't have to accept mine. That is all. Thought that was abundantly clear in the post where I wished you continued success.

Btw, the real account you saw was news trading. Hence, the low number of trades. I also trade many strategies technical automated. That can easily give 5k trades in a year. Demo is just demo. Voodoo, educated guess...

Trade well

@ Dare123: Sincere apologies for the hijacking of your thread. Feel free to delete whatever of my posts you feel are clogging the thread.
"To hold, you must first open your hand. Let go." - Lao Tzu
  • #325
  • Nov 9, 2013 9:14pm Nov 9, 2013 9:14pm
It doesn't matter if a cat is black or white, so long as it catches mouse.
  • #326
  • Nov 9, 2013 9:15pm Nov 9, 2013 9:15pm
Quoting scalpeur
{quote} I thing this depend of how you learn to trade, if the teacher teach you 2+2=4, you will get this for the rest of your life. I learn trading with Oanda, No Hedge, no way to go long and short in the same time, you have to find the good way or you loose money.
So 2+2 has been teaching you 123 ? But be careful. 2+2 seems better able to predict the losing direction than the winning direction.

Long and short with Oanda is perfectly possible with 2 sub accounts.
  • #327
  • Nov 9, 2013 9:18pm Nov 9, 2013 9:18pm
2+2= can be 1+1+1+1

You can go with sub-account, but your margin is not the same.
  • #328
  • Nov 9, 2013 9:50pm Nov 9, 2013 9:50pm
Hot damn this is like who came first the chicken or the egg?

Just breezed thru the last five pages or so...Thats enough

If any of you have an ounce of brains you will listen to 2+2

You are 100% guaranteed to eventually lose all of your $$ trading without a stop loss.

Its a mathematical certainty..Its a universal law.. Go against it and your ass will be served
to you on a platter.

I know I know that spoils your thoughts and visions of the holy grail with your newest indi.
or whatever pipedream you have. Nothing wrong with dreaming..

But the truth is the truth and indisputable...

Later...
Markets are Mirrors,,Mastery of craft is mastery of self
  • #329
  • Nov 9, 2013 11:10pm Nov 9, 2013 11:10pm
Quoting shellsnail
But anyway, the point of this thread I think is to distinguish between Stop-loss orders as an order TYPE versus the concept of stopping your losses (i.e. getting out of the market when you are wrong). I am against stop-loss orders but I am totally for stopping your losses.
That is what I believe we are all talking about. Stopping your loss before it becomes significant, not whether the stop is set as an order or closed out manually. That is just a preference.
  • #330
  • Nov 9, 2013 11:14pm Nov 9, 2013 11:14pm
Quoting shellsnail
{quote} Holy grail maybe? Maybe they are not 100% right, but when they are wrong, they can get out at a VERY small loss or at break even consistently, whereas the upside is UNLIMITED. Put it another way, why set a stop loss and lose that X number of pips when you could get out with no loss and protect your margin. Depending on your strategy, I think the probability of you hitting a home run that is positive to you is MUCH MUCH higher than a bad trade that wipes out your account. Besides you are protected by margin call to the downside,...
You definitely have the right mindset. I am in agreement with your approach. Risk pennies to gain dollars. Not the other way around.
  • #331
  • Nov 9, 2013 11:20pm Nov 9, 2013 11:20pm
Quoting vox dei
What's with the attitude? Are we not all adults here?
I'm to blame I think. He seems to have it out for me. It began when I replied to one of his posts and said it was nonsense. Perhaps that was a bit harsh. Regardless, it was a poor post and I explained why. I think he got offended and has been raging ever since.
  • #332
  • Nov 9, 2013 11:27pm Nov 9, 2013 11:27pm
Quoting shellsnail
{quote} Why have open trades in opposite directions on the same pair? Just close the damn trade if you are convinced it is reversing and stop feeding your broker additional commissions lol.
Exactly. If there was ever any question about whether he's a beginner or not, he just made it clear right there. It was obvious to me he is new to trading, but that should of been the clincher for anyone who had doubts.
  • #333
  • Nov 9, 2013 11:37pm Nov 9, 2013 11:37pm
Quoting bluesteele
Hot damn this is like who came first the chicken or the egg? Just breezed thru the last five pages or so...Thats enough If any of you have an ounce of brains you will listen to 2+2 You are 100% guaranteed to eventually lose all of your $$ trading without a stop loss. Its a mathematical certainty..Its a universal law.. Go against it and your ass will be served to you on a platter. I know I know that spoils your thoughts and visions of the holy grail with your newest indi. or whatever pipedream you have. Nothing wrong with dreaming.. But the truth...
Hello bluesteele. Nice to see you here. Hope all is well.
  • #334
  • Nov 10, 2013 12:24am Nov 10, 2013 12:24am
Quoting 2+2=4ex
{quote} I'm to blame I think. He seems to have it out for me. It began when I replied to one of his posts and said it was nonsense. Perhaps that was a bit harsh. Regardless, it was a poor post and I explained why. I think he got offended and has been raging ever since.
Nevermind whose fault it is. That's a thing of least concern. Besides, in the end we're all cool. Everyone gets to trade and learn their own way.
"To hold, you must first open your hand. Let go." - Lao Tzu
  • #335
  • Nov 10, 2013 2:59am Nov 10, 2013 2:59am
Quoting Gumrai
{quote} If you are trading with a real account and putting your money at risk, then it's up to you really, isn't it? I have traded without a SL in the past and regretted it. For me it is important to know how much of my account I will be putting at risk when I enter a trade and that is not possible unless a SL is in place.

ya you are right but i have found my self fools ..situation..suck... 100 times they just kiss my ass/stop loss then return right path like say long/short..how you describe it i heard from a broker when they see 100/1000/100000 usd just 3/5 pips away then they just initiate all things all power force to suck it....now what i do ..what should we do....i just put 1/3 % money risk but not set stop loss if i found i am wrong..my trade entry is not correct then dont hesitate to stop it manualy thats it...my imaginary/virtual stop loss is that figure no body knows it except me ..it may be 5 pip...50..100..200 pips depends on time frame
Say something meaningful or Silence!!
  • #336
  • Nov 10, 2013 4:18am Nov 10, 2013 4:18am
Quoting classy
{quote} ya you are right but i have found my self fools ..situation..suck... 100 times they just kiss my ass/stop loss then return right path like say long/short..how you describe it i heard from a broker when they see 100/1000/100000 usd just 3/5 pips away then they just initiate all things all power force to suck it....now what i do ..what should we do....i just put 1/3 % money risk but not set stop loss if i found i am wrong..my trade entry is not correct then dont hesitate to stop it manualy thats it...my imaginary/virtual stop loss is that...
They're not specifically targeting you. It is just that retails happen to have stops bunched up in obvious areas. Interbank FX traders like to sweep those areas to get liquidity to fill their clients' or their bank's trades.
Build good relationships with others.
  • #337
  • Nov 10, 2013 6:24am Nov 10, 2013 6:24am
Quoting bluesteele
Hot damn this is like who came first the chicken or the egg? Just breezed thru the last five pages or so...Thats enough If any of you have an ounce of brains you will listen to 2+2 You are 100% guaranteed to eventually lose all of your $$ trading without a stop loss. Its a mathematical certainty..Its a universal law.. Go against it and your ass will be served to you on a platter. I know I know that spoils your thoughts and visions of the holy grail with your newest indi. or whatever pipedream you have. Nothing wrong with dreaming.. But the truth...
Like 2+2, you are only able to predict the losing direction. That's a sign of some one who fears losing disproportionately, someone who doesn't win much if at all.

It's perfectly OK to not believe in holy grail. If everyone has one that would be a horrible world. But the holy grail is not an indicator. The holy grail is the understanding of how the market works, why it works, and why guaranteeing to buy high and sell low will make you a permanent loser.
  • #338
  • Nov 10, 2013 6:29am Nov 10, 2013 6:29am
Quoting shellsnail
{quote} They're not specifically targeting you. It is just that retails happen to have stops bunched up in obvious areas. Interbank FX traders like to sweep those areas to get liquidity to fill their clients' or their bank's trades.
Why would they not target him ? If he sets out to sell high and buy back low at stop, the market will have great reasons to target him. The market is there to make profit is it not ?
  • #339
  • Nov 10, 2013 6:38am Nov 10, 2013 6:38am
Quoting 2+2=4ex
{quote} I'm to blame I think. He seems to have it out for me. It began when I replied to one of his posts and said it was nonsense. Perhaps that was a bit harsh. Regardless, it was a poor post and I explained why. I think he got offended and has been raging ever since.
I have it out for you because you make a claim and unable to support it. The question remains: how are you able to predict with such certainty a draw down will continue into multi-year ?
  • #340
  • Nov 10, 2013 7:03am Nov 10, 2013 7:03am
wow,,iunbelievable..549,1% in 61 weeks
Although i like this method, used to trade like you but finally i realized trading no stop loss is very risky..99% win but only 1% lose can blow your account or it will take very long to take profit from that 1%..So i think it's not suitable for me but your result still is very very amazing
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