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Trading Without a StopLoss

  • #361
  • Nov 10, 2013 2:59pm Nov 10, 2013 2:59pm
I put aside say 1 or 2 hours to scalp without a stop loss on a 3 minute TF. But I am watching say a max of 3 trades and will pull out if things look bad.
I used to trade with a 1,2,3 method. If it looks likely to go my way then at a predetermined loss I am in again for the same amount. In the unlikely event it gets to a new lower level then I must make the judgement of going in for a 3rd time PLUS a reasonable stop loss. It is a sort of averaging down but one MUST be very firm not to go in a fourth time.

If I have to go out I definately put in a stop or overnight.
  • #362
  • Nov 10, 2013 3:08pm Nov 10, 2013 3:08pm
Hilarious thread

Our no stops friend Samer has been caught using stops

http://www.forexfactory.com/showthre...21#post7047221

Quoting Samer1970
however, i made wrong 3 trades for usd/chn and i had been forced to close them on today noon time with a loss , by myself, and i did so, because something strange happened today in the chart -1000 pips in the candle happened in this pair in few minutes at which this was crazy , so once the price came to a logic value to be closed with loss, i did so.
  • #363
  • Nov 10, 2013 5:29pm Nov 10, 2013 5:29pm
I think you all right.

But the smartest way would be ... listen to both sides, but do what makes your account make profits.

I hate using stops and i agree with those that most important part of your trade is Entry, especially when scalping for few pips. If i not sure about my entry, i will call it gambling. (I did that many times )

Going with no stops will be not a big problem:
1. If you use very small lots for trades, that you are not sure about entry, it will not heart your account.
2. Do not trade during news releases
3. Do not trade when market is moving too fast . It is important to feel it. (you do not have to agree with me)
4. Trade ranges
5. Learn from those, who are trading with no stops, those could be the best traders, becouse they know how to make best entries..... After learning how they do it ...... Still can use our stops....

Good luck to everybody !
  • #364
  • Nov 10, 2013 6:08pm Nov 10, 2013 6:08pm
Quoting 2+2=4ex
{quote} If you review all your trades you will find plenty of examples where not having a stop would have resulted in a profit. Those trades are common and apparent. What is not common or apparent are those few trades you stopped early that would now be huge losers. Losers so big that they eclipse the gains of all the profitable trades.

Like I said, have to be prepared for Manual Close trades at a loss, when they are likely to keep going the wrong way.

200-300Pips again, on EJ in a short period of time is possible, like the 100 which happened pretty damn quickly.


I'm going to increase my SL size this week to a level where I'd of only taken EJ as a loss all week.

New method I've devised, so only have 1 week of trades to work off.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #365
  • Nov 10, 2013 6:39pm Nov 10, 2013 6:39pm
I don't personally like trading without a stop-loss. I like to know where I am "wrong" in a trade and cut my losses. A stoploss is a useful tool to manage
and define your trade.
  • #366
  • Nov 10, 2013 11:02pm Nov 10, 2013 11:02pm
Quoting grin
Hilarious thread Our no stops friend Samer has been caught using stops http://www.forexfactory.com/showthre...21#post7047221 {quote}
  • #367
  • Nov 10, 2013 11:04pm Nov 10, 2013 11:04pm
Quoting SeanyTsunami
I don't personally like trading without a stop-loss. I like to know where I am "wrong" in a trade and cut my losses. A stoploss is a useful tool to manage and define your trade.
  • #368
  • Nov 11, 2013 5:48am Nov 11, 2013 5:48am
excellent
GUYS BE AWARE FROM HUNTING YOUR STOP LOSSES BY YOUR BROKER & BY "GHOSTS"
  • #369
  • Nov 11, 2013 6:57am Nov 11, 2013 6:57am
I just closed three trade in a loss- but am still ahead for the month. Just because you trade without a fixed stop loss does not mean you have to let a losing trade take you all the way down. I made what I thought was a reasoned decision, based on where I saw the market going, realizing price action in any pair goes up or down some 300 pips in an average month, and very occasionally as much as three thousand.

You can verify this yourself by looking at your charts in a monthly time frame. It is always profitable to take some time to renew your perspective.

About our friend Samer: I think his strategy is reasonable and apparently well thought out, and no one has to be a slave to their own plan. I have no desire to be a human EA.
  • #370
  • Nov 11, 2013 11:55am Nov 11, 2013 11:55am
Despite all other things, what if your internet connection is lost and you are in a trade?
A stoploss can save you from heavy losses, without one, you might regret it.

-Darwin
  • #371
  • Edited 1:02pm Nov 11, 2013 12:32pm | Edited 1:02pm
Quoting grin
Hilarious thread Our no stops friend Samer has been caught using stops http://www.forexfactory.com/showthre...21#post7047221 {quote}
Why should that be hilarious ? I don't use stops, but I have the option to should I consider a particular trade is a quick gamble. But I don't do gambling often. So no use for stops.
  • #372
  • Edited 12:56pm Nov 11, 2013 12:40pm | Edited 12:56pm
Quoting Darwin-FX
Despite all other things, what if your internet connection is lost and you are in a trade? A stoploss can save you from heavy losses, without one, you might regret it. -Darwin
Stop gambling will save you even more money. In fact it will make you money. I regularly sleep upto 8-10 hours with 20+ open trades without stops, and sleep very well. In fact I make money every day, because some of those trades come into money while I sleep. However I reduce my orders when I sleep, but still leave a few to catch a position if something looks promising.

Go on then, someone start crying foul that I claim to make money every day. I know how impossible this will sound to a lot of people. Unlike those who consistently lose money, I don't consider out of money trades to be bad. Those are all potential profits.
  • #373
  • Nov 11, 2013 3:27pm Nov 11, 2013 3:27pm
Quoting Rap Skallion
I just closed three trade in a loss- but am still ahead for the month. Just because you trade without a fixed stop loss does not mean you have to let a losing trade take you all the way down. I made what I thought was a reasoned decision, based on where I saw the market going, realizing price action in any pair goes up or down some 300 pips in an average month, and very occasionally as much as three thousand. You can verify this yourself by looking at your charts in a monthly time frame. It is always profitable to take some time to renew your perspective....

THANK YOU VERY MUCH.

ALSO, I CLOSE SOME LOSING TRADES MANUALLY AS YOU DID, AND THIS IS WHEN I STUDY THE PAIR LOSING AND I FIND THAT IT IS USELESS TO CONTINUE.
HOWEVER, NOWADAYS THIS IS BECOMING LESS AND LESS PRACTICE AS I SELL FRO DAILY OR MONTHLY TOP AND BUY FROM DAILY OR MONTHLY BOTTOM, SO MY RISK EXPOSURE IS REDUCED TO A GOOD VALUE FOR ME.

WELL, AS YOU HAVE SAID, ALSO, ME TOO, I DO NOT HAVE THE DESIRE TO BE A HUMAN EA. ,

GREAT....
GUYS BE AWARE FROM HUNTING YOUR STOP LOSSES BY YOUR BROKER & BY "GHOSTS"
  • #374
  • Nov 11, 2013 3:31pm Nov 11, 2013 3:31pm
Quoting BeginnerJoe
{quote} Stop gambling will save you even more money. In fact it will make you money. I regularly sleep upto 8-10 hours with 20+ open trades without stops, and sleep very well. In fact I make money every day, because some of those trades come into money while I sleep. However I reduce my orders when I sleep, but still leave a few to catch a position if something looks promising. Go on then, someone start crying foul that I claim to make money every day. I know how impossible this will sound to a lot of people. Unlike those who consistently lose money,...
ME TOO, I SLEEP 5-7 HOURS WITHOUT BIJAMA, SORRY WITHOUT STOP LOSS, IT IS HERE IN DUBAI HOT AT NIGHT.

HOWEVER, YES WHAT YOU HAVE SAID IS CORRECT, SOME NIGHTS I MAKE MONEY WITHOUT STOP LOSS MORE THAN NORMAL DAYS..

GUYS BE AWARE FROM HUNTING YOUR STOP LOSSES BY YOUR BROKER & BY "GHOSTS"
  • #375
  • Nov 11, 2013 3:37pm Nov 11, 2013 3:37pm
Quoting grin
hilarious thread our no stops friend samer has been caught using stops http://www.forexfactory.com/showthre...21#post7047221 {quote}

yes, i am a human being at which i make mistakes.

i said clearly, i do not have stop losses in my trades, ever-never... But, some times, when i make a mistake and i study the market, then i close the deal directly manually even if it is after few hours...

i feel that you are trying to hunt my writings for mistakes, to prove your point of view, however, i like This , it is healthy, do you know why ??

the huge productive high tree with full of fruits on its branches will be hit by stones from people like you to get its fruits.....
GUYS BE AWARE FROM HUNTING YOUR STOP LOSSES BY YOUR BROKER & BY "GHOSTS"
  • #376
  • Nov 11, 2013 3:39pm Nov 11, 2013 3:39pm
Quoting beginnerjoe
{quote} why should that be hilarious ? I don't use stops, but i have the option to should i consider a particular trade is a quick gamble. But i don't do gambling often. So no use for stops.
thank you, you said exactly what i was going to write.
GUYS BE AWARE FROM HUNTING YOUR STOP LOSSES BY YOUR BROKER & BY "GHOSTS"
  • #377
  • Nov 11, 2013 3:42pm Nov 11, 2013 3:42pm
Quoting RabbitWolf
I think you all right. But the smartest way would be ... listen to both sides, but do what makes your account make profits. I hate using stops and i agree with those that most important part of your trade is Entry, especially when scalping for few pips. If i not sure about my entry, i will call it gambling. (I did that many times ) Going with no stops will be not a big problem: 1. If you use very small lots for trades, that you are not sure about entry, it will not heart your account. 2. Do not trade during news releases 3. Do not trade...
PERFECT
GUYS BE AWARE FROM HUNTING YOUR STOP LOSSES BY YOUR BROKER & BY "GHOSTS"
  • #378
  • Nov 11, 2013 3:57pm Nov 11, 2013 3:57pm
Quoting 2+2=4ex
I would be cautious about taking what some are saying here as sound advice. If you've been trading for some time and have some experience, you probably already know how trading without a stop loss can wipe out months worth of profit in a week. Trading without a stop seems wonderful as you keep banking trade after trade for a profit, but then all of a sudden the trades start going backwards. Before you know it half your account is gone and the other half will be gone even sooner, especially if you are averaging down. So, for those of you who are...
MY FRIEND, IF YOU ALLOW ME TO BE YOUR FRIEND,
SOME OF WHAT YOU WROTE HERE IS PERFECT, YES, SOME TRADERS WILL GO FOR STOP LOSS, BUT SOME WILL NOT.
NOW, IF YOU DO NOT HAVE A SOLID STRATEGY TO WORK WITH IT FOR NON STOP LOSS METHOD, THEN YES, THE TRADER WILL LOSE HIS ACCOUNT IN ONE DAY RATHER ONE WEEK...

BUT THE POINT YOU ARE MISSING HERE, EACH TRADER HAS HIS OWN TRADING METHOD, MAY BE IT IS CORRECT AND MAY BE IT IS WRONG, WHO WILL JUDGE, YOU ?, ME / THEM ? NO ONE OF US, THE ONLY ONE WHO CAN SAY THAT THIS METHOD WITH OR WITHOUT STOP LOSS IS WORKING SMOOTHLY IS,,,,,, ONLY,,,, YOUR ACCOUNT....

DID IT SURVIVE THE MARKET WAVES OR IT DID NOT....

FOR ME , I AM SURVIVING WITH MY SSII STRATEGY WELL, GOOD, SMOOTHLY, BUT MAY BE IF I USE STOP LOSS WITH STRATEGY I WILL NOT BE HAPPY....

IT IS A RELEVANT MATTER HOW YOU SEE YOUR METHODS OF TRADING....

I AM NOT AGAINST STOP LOSS TRADING, IF IT IS SUITING YOUR IDEAS AND METHODS, WHY NOT... USE IT.....

BUT FOR ME, WITH MY STRATEGY SSII, I DO NOT NEED STOP LOSS...

FRIENDS FOR EVER....
GUYS BE AWARE FROM HUNTING YOUR STOP LOSSES BY YOUR BROKER & BY "GHOSTS"
  • #379
  • Nov 11, 2013 10:06pm Nov 11, 2013 10:06pm
Quoting 2+2=4ex
{quote} Hello bluesteele. Nice to see you here. Hope all is well.

Yes 2+2.... Just popped by..gave Bob a little Poke LOL...

Hope all is well with you my friend..Keep up the good work
Master your Mind,,,Master the Market
  • #380
  • Nov 11, 2013 10:18pm Nov 11, 2013 10:18pm
Quoting BeginnerJoe
{quote} 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.
Boy you got things ass backwards Joe LOL...

Thing is I probably make more in a month than you will ever make your entire life trading. Let us all know in a year from now where your No Stoploss methods get you.. I can guarantee you most likely will be worse off than you are now.. Sorry to spoil your grandiose dreams and delusions..

Ive seen soooo many of your types come and go always the same story. You have it all figured out..But in all reality your like a guy in times square wearing a neon green jumpsuit...thinking you are invisible to the crowd... You see that's how I see sooo many noobs.. You stick out like a sore thumb.

Carry on Joe..Prove to the world your ego is right... Funny all you non stop loss guys psychology is skewed against making you a successful trader...

The common trait I observe with "your kind" is you all vehemently deny your wrong..( see where im going? ) you are so stuck on your delusion that you cannot
accept being wrong...In this game you better learn to take your lumps like a man and accept them... This means using a stoploss..

You see its ok to be wrong I don't care if im wrong the entire week..It doesn't matter..because I still make money...

Anyways I know you will not listen to a word I say. Because your kind doesnt and your kind does not succeed in this business.. Thats fine your collective kind all add to my bottomline..So keep doing what your doing

Cheers
Bluesteele
Master your Mind,,,Master the Market
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