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Do you use stoploss? 632 replies

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Attachments: Real Fx traders do not use stoploss
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Real Fx traders do not use stoploss

Quoting ericnyamu
who is that 'pro' trader that doesnot use a stoploss ? what kind of BS are you 'no stoploss losers' peddling here . lol. it takes one not two or three bad trades to wipe your accounts off

I trade for a living NO stoploss , what goes up must come down what goes down must go up or don't you know that
ONE MUST LEARN, DO IT AND IT WILL BE KIND TO YOU
really?
what if it goes down or up 3000pips+
only small stakes or very large accounts can work around this

the key is to know which SL size to use for particular trades
sometimes its nice to be taken out
if its only once or twice a month who cares
Quoting Jackub
{quote} Hi, So, you experienced already fact that exit is more important than entry, right ?? This is valuable advice given by Ronald Raygun at his profile.... this advice is worth millions.... "Here's a tip for the newbies who are learning to trade. Ignore all that hype for various systems. Remember--for now--this one fundamental rule: The exit is more important than the entry. With that in mind, I want you to do the following on a demo account: 1) Toss a coin: Heads long, Tails short 2) Manage the trade as you see fit. If you think the trade is...
Thank you very much for your advice, Jackub!

One question concerning the doubling of the account in less than 50 trades - what leverage is implied (as it has a significant impact)?
Quoting ericnyamu
who is that 'pro' trader that doesnot use a stoploss ? what kind of BS are you 'no stoploss losers' peddling here . lol. it takes one not two or three bad trades to wipe your accounts off
You assume that because we use no fixed stoploss we are doomed to ride the death trade to our demise. Not true, unless you use insanely large lot sizes as the brokers advise you to.

There are many ways to reasonably close down a trade in loss.


Get rid of your preconceptions and discover how those who do not use fixed stoploss actually trade and you will gain profit from viewing threads such as these.
Quoting Rap Skallion
{quote} You assume that because we use no fixed stoploss we are doomed to ride the death trade to our demise. Not true, unless you use insanely large lot sizes as the brokers advise you to. There are many ways to reasonably close down a trade in loss. Get rid of your preconceptions and discover how those who do not use fixed stoploss actually trade and you will gain profit from viewing threads such as these.
Well stated and yes you are completely correct.
maybe institute trader do this but for retail trader this is the most foolish and dangerous attempt that he/she could have done.
Quoting Hwdfx
{quote} Well stated and yes you are completely correct.
Yes, that could sum it up but it is one side of the coin..the issue is that most new traders do neither use good MM nor do they opt for small lots..and with no SL, the inevitable crash happens. So yeah, while a trader can trade with no SL, it is not advisable to do so, esp for newbies..
I think it is essential for retail traders to use stop/losses, its too risky not to.
you can use margin call as stop loss
hell yeah,,
Quoting etrade360
you can use margin call as stop loss
Quoting bodypip
{quote}
HAHA technically true I guess. But.... really?
Quoting jotekfinance
{quote} HAHA technically true I guess. But.... really?
It's really, do the math between your capital and lot size and your leverage and margin call (based on margin call of your broker) and how much risk(money) you would accept, then you will find out.
Since you enter, if market moves into your favorite then you got big earn. If market against you, you loose small
hell yeah,,
You have to set stop loss according to your trading strategy and timeframe you trade. The more time horizon the more pips away from your order should SL be set. Lot size can also affect stop loss, the more lot size the less is Stop loss.
When I was a newbie I was putting my stop loss randomly or estimating prior candlestick height and putting SL at the bottom of it. It is a good trick when you are able to recognize widely accepted candlestick patterns (especially reversal ones). Later I've developed sound MM plan and bounded my SL to some fixed pip values. It were particularly good betterment as my broker MercerFx has quite stable spreads, rarely experiencing widenings during serious market abruptions...
Personally I wouldn't advice you to do away with spreads at all, particularly to low-capitalized trader, where free of restrictions trading may bring you to ruin in a blink of eye.. Really... 1:500 leverage, 200-300 $ dep... one market spike and you are out.
i don't use stop loss or take profit . i just cut if i think i hv a wrong position . but i am just a noob
Hello everyone, just stepped into this thread and even if the question is quite simple (at least to me) it has a lot of weight in one's trading.
My humble opinion: one has to use SL at all times.
If you don't use SL you can indeed 'be lucky' and the position will go your way.
If you do use SL, there is no danger in a large sudden drop which could make you lose a large part of your account or why not the entire account.
Traders that were live in 2008-2009 know exactly what I'm talking about, if they remember.

Anyway, NOT using SL is very dangerous, expert or noob traders, no matter!
real fx traders are provided trading ranges to manage accounts within. By end of week trades must be closed out for wins or losses, so technically stop-losses are not utilized but losses occur just the same.
piphunt11
Quoting digagerev
Hello everyone, just stepped into this thread and even if the question is quite simple (at least to me) it has a lot of weight in one's trading. My humble opinion: one has to use SL at all times. If you don't use SL you can indeed 'be lucky' and the position will go your way. If you do use SL, there is no danger in a large sudden drop which could make you lose a large part of your account or why not the entire account. Traders that were live in 2008-2009 know exactly what I'm talking about, if they remember. Anyway, NOT using SL is very dangerous,...

Ahh yes 2008 a very good year especially from October on, I can remember it well as I was trading AJ sitting short bored out of my skull because of inactivity in the position and in a blink I had 4 more short positions open up 100 pip apart, swings were insane (hundreds of pip in seconds), blown accounts were everywhere, the forums were amuck with all sorts of sad stories in very short order. One of my trading buds lost 5k in minutes when silver gapped down right over his stops getting filled at the first price available, another bud who was "milking" an AJ carry trade got wiped out because he was doing it with no stops and playing around instead of managing trades at such a critical time even after I gave him a heads up call earlier in the day. Never trade without at least an emergency stop in these markets, you never know what could happen, your trading device could fail, your platform could fail, your net connection could go down, broker servers could go on the fritz, the possibilities are endless and if your around for any time (or plan to be) you will get hit with some logistical disaster (I have experienced most of the previous in my time) and doing such is just poor risk management and risk management is one of the things a good trader is suppose to be good at. Remember, live to trade tomorrow, expect the unexpected.
To succeed in trading, you need to learn risk management. Stop/loss allows you to be a controlled trader, a smart one too. Ignore the controversy going on, as my fav quote says 'Amateurs want to be right, professionals want to make money'
Quoting js5020
{quote} Ahh yes 2008 a very good year especially from October on, I can remember it well as I was trading AJ sitting short bored out of my skull because of inactivity in the position and in a blink I had 4 more short positions open up 100 pip apart, swings were insane (hundreds of pip in seconds), blown accounts were everywhere, the forums were amuck with all sorts of sad stories in very short order. One of my trading buds lost 5k in minutes when silver gapped down right over his stops getting filled at the first price available, another bud who...
That is what i'm talking about. Thanks for your post js! Maybe the one's new to trading can learn something from your description.
I have met a lot of traders not using SL, because of different reasons, and a lot of them got wiped out or left with small accounts.
Quoting FarahHawilo
To succeed in trading, you need to learn risk management. Stop/loss allows you to be a controlled trader, a smart one too. Ignore the controversy going on, as my fav quote says 'Amateurs want to be right, professionals want to make money'
Excellent said Farah! The most important thing in trading, in my opinion, besides entry and exit, is to control your emotions and NEVER move your SL. If the trade goes your way fine , if not there will be others.

The markets are there day and night. Trades will come. You just need not to lose your account from a few trades and make money!
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