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Trading Without a StopLoss

  • #1,481
  • Dec 25, 2013 8:50pm Dec 25, 2013 8:50pm
I forgot to add that I always top off my limited tp pending trades with a naked one. If something happens and the market blows by my two 10p tp pending ones, and gets into my naked one, it usually has enough momentum to keep going and give me a nice surprise when I finally do wander back to the screens.

Basically I try to set myself up so that if money wants to fall into my lap -- I let it!

The best of both worlds?

Sorry if I misled you. But a greedy boy, having taken his fill a couple of times, is always ready for more!
  • #1,482
  • Dec 25, 2013 11:34pm Dec 25, 2013 11:34pm
Dont even try to trade without stop loss, it saves your money!!
  • #1,483
  • Dec 26, 2013 1:18am Dec 26, 2013 1:18am
Naked trade can be a dangerous for a trader who don't understand about the concept and how predict the market movement with the naked trade. i am still use an infdcator to predict market also use fundamental issues for see the trend of the market
  • #1,484
  • Dec 26, 2013 2:25am Dec 26, 2013 2:25am
Quoting com37
Dont even try to trade without stop loss, it saves your money!!
(Sigh)
  • #1,485
  • Dec 26, 2013 2:51am Dec 26, 2013 2:51am
A stop loss is for losing; so why use one?

use a stop win instead.
  • #1,486
  • Dec 26, 2013 6:07am Dec 26, 2013 6:07am
I seldom set SL, rather reduce the bet size to 1/8 and let it run and observe accordingly.
Notice that the SL will be wiped off easily nowaday. Manually hedge or set buy/sell stop to hedge if not free.
Face both Win and Lose bravely
  • #1,487
  • Dec 26, 2013 1:38pm Dec 26, 2013 1:38pm
When I opened a trading with the trend, I prefer the mental stoploss and only place a actual stoploss when I need to go and do something else and cannot monitor the trade.
  • #1,488
  • Dec 27, 2013 8:29am Dec 27, 2013 8:29am
I made over 300 pips today. Was it because of superior planning and technical skills, a savvy sense of the market? Nope!
It was an utter total and complete surprise.
I just set my self up so that, if the money wanted to fall in my lap, I would let it, and try not to get hurt in the process.
Can I do this consistently? Nope!

Will this happen to me again?

I trade without a stop loss, use correlated pairs of pairs (lots of them) and take losses only if, and when I think it best.
(Unless the pair is plunging radically out of control, if I do close it, it is frequently for reasons other than the action of the pair itself).

Oh, I made over 150 pips yesterday (same things apply)

Good luck out there; try not to get hurt!
  • #1,489
  • Dec 27, 2013 9:24am Dec 27, 2013 9:24am
I GAMBLE without s/l and so far so good. took me nearly 3 years to get to the method I GAMBLE now but so far so good
37% profit this month starting from 8th December
On my way to financial independence - if others can do it - I can do it
  • #1,490
  • Dec 28, 2013 2:21pm Dec 28, 2013 2:21pm
http://www.trade2win.com/boards/trad...rd-so-far.html
  • #1,491
  • Dec 29, 2013 1:13am Dec 29, 2013 1:13am
In my opinion if one needs to set a physical stop loss then they need to take a look at themselves. You have to be fully attentive to your trades at all times and if you aren't able to give them full attention and set a stop loss in case you can't keep a tab on them - then you need to take your trading more seriously. Mental stops are the only one's that one should implement from the angle I see it.
  • #1,492
  • Dec 31, 2013 12:04am Dec 31, 2013 12:04am
Quoting dare123
{quote} I have decided to use this money management: for example EUR/USD : Every 100pips = 1% of my account: I use rotational hedging after every hedge, I start a new trade I trade a maximum of 3 currency pair(1% each) or 3% of my account on 1 currency pair Per entry. What do you think of the MM.
e

i use this MM. every 100 pips = 1% of account. I trade on all pairs of my MT4. its all about 30 pairs. Without SL. As long as i use this MM, i not hit yet by MC.
  • #1,493
  • Dec 31, 2013 3:07am Dec 31, 2013 3:07am
Quoting yazzie
I have read most of this thread believe it or not and don't care to get into a pissing contest. Just found out about myfxbook.com and have linked my accounts to it. Here is a screenshot of myfxbooks personal account showing a 287% gain YTD through the end of October where I liquidated and move the funds to a Corporate Account. Because this is working for me way beyond my equity investments I've decided to add additional funds and will start 2014 with an account size around $250K My post is not to brag but just to show how one CAN be successful trading...
Dear Yazzie, Please share with me in details how you manage your losing trades or when the market goes against you.
Kindly share please.
  • #1,494
  • Dec 31, 2013 10:11am Dec 31, 2013 10:11am
Quoting dare123
{quote} Dear Yazzie, Please share with me in details how you manage your losing trades or when the market goes against you. Kindly share please.
I scale in at wide intervals and average down to put my BE and TP in a better position. I trade the fast moving Yen crosses and will typically scale in another position when it goes 100-150 pips against me. sometimes I scale at 300-400 pips depending on how the pairs are moving. You need a large account to trade this way. Works well for me
  • #1,495
  • Dec 31, 2013 10:20am Dec 31, 2013 10:20am
Same with you dude..I also trade without stop loss but the sad thing is sometimes in my broker it take a minutes to execute when u exit..not automatic unlike if u put stop loss.
  • #1,496
  • Dec 31, 2013 11:12pm Dec 31, 2013 11:12pm
Isn’t hedging really just a form of a stop loss anyway? The principle is protecting yourself if the market moves against your position.Whether that protection is in the form of a stop-loss order, a mental stop or a hedge, it doesn’t really matter. The issue is risk control. The advantage of hedging is that it protects against market opening gaps. For some forms of trading I use hedges (stocks, and stock options), and other forms I just use a simple stop-loss order (forex). The objective’s the same i.e. risk management.
  • #1,497
  • Dec 31, 2013 11:54pm Dec 31, 2013 11:54pm
Quoting yazzie
if a trade goes against me I'll open up another trade in a highly correlated pair going the other way.
how far does the trade go against you before you decide to open a correlated pair order?
  • #1,498
  • Jan 1, 2014 2:43am Jan 1, 2014 2:43am
I do not want to be like WTF is wrong with me? because don't use stop loss.

So I use EA to atomaticaly add my stop loss 100 pips, even my target only 10, 15 or more, just to protect if there is unexpectedly some thing wrong.
  • #1,499
  • Jan 1, 2014 7:35am Jan 1, 2014 7:35am
Quoting SM02
Isn’t hedging really just a form of a stop loss anyway? The principle is protecting yourself if the market moves against your position.Whether that protection is in the form of a stop-loss order, a mental stop or a hedge, it doesn’t really matter. The issue is risk control. The advantage of hedging is that it protects against market opening gaps. For some forms of trading I use hedges (stocks, and stock options), and other forms I just use a simple stop-loss order (forex). The objective’s the same i.e. risk management.
Here's the thing about cross currency hedging with highly correlated pairs:
1. you must be correct in your assessment that the market will eventually bring your original trade into profit.
2. In the meanwhile, you can make money by going the other way in a correlated pair.
3. it would be wise to be less aggressive in your bidding in that pair, since you anticipate the turning around, sooner or later, of the market.
4. consider this: you have pick a pair that correlates highly with each other -- How do they correlate with the other pairs you trade?
5. The more trades you have open, other things being equal (i.e. you have not been too stupid)the greater the likelihood that one or more of the trades is coming into profit.
6. it's not really hedging until you close a trade at a loss.
7. you are drifting into a whole new world of complex portfolio management.
8. it doesn't really work if you use stop losses, especially tight fixed ones, in my experience.
9. There are other things out there besides these that can influence your profitability going this way...

Going this way for a while now, I have been getting into it more and more, winning more and more, and having more and more fun.

Have I entered a fool's paradise? I will let you know.
  • #1,500
  • Jan 1, 2014 7:57am Jan 1, 2014 7:57am
the price reflect human personalities in some ways

so after we thinking about sl, the next thing we think is when the trend will stop. because it is exactly a same thing with few level upgrade.
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