no stop loss, big boss decides when i lose | Forex Factory

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no stop loss, big boss decides when i lose

  • #1
  • First Post: Jan 23, 2015 1:31pm Jan 23, 2015 1:31pm
Hi traders
I’ve not been on this site for some time. What I’ve been doing is a trial with a demo account,
What I have found is if you trade on the monthly chart and only trade in the direction of the monthly candle,
With no stop loss you win every time.
The only time you going to lose. his when the big boss decides the monthly candle are going to go in opposite direction. Which is about every 12 months or two years, when he or she decides to change the direction. The only indicated you need for this way of trading is support and resistance lines. and Tdi to confirm the direction. I would be interested to find out if any other traders have carried out similar trials and what their results were.

Ps. One of these trials when £668 in the wrong direction. But came back and is £420 in profit at this moment. And one other point I never look at any other time frame.
Yes, I know I could be wiped out in one go. The demo account started with £5000 it’s now up to £7474. as the picture shows.i been running this trial for about 4 weeks,
Attached Image (click to enlarge)
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  • #2
  • Jan 23, 2015 2:47pm Jan 23, 2015 2:47pm
Trading long term with no stop loss or exit point is like jumping out of a plane with no parachute, sure the sky dive is great while it lasts but sooner or later you're going to die.
  • #3
  • Jan 23, 2015 3:27pm Jan 23, 2015 3:27pm
I found the best trade set-ups come from reviewing your same indicators and charts on a multitude of time bars. Example: If your looking for set-ups on 1 pip range bar chart, or 100 volume bar chart, you better know what is going on over at the 30 second chart. I would also strongly recommend anyone looking looking to scalp pip (as I do) to review the longer term situation of your indicators on longer term chart as a precaution. Trading fast markets but knowing what the longer term chart looks like will keep you from blowing up your account. My two cents.
  • #4
  • Jan 24, 2015 4:45am Jan 24, 2015 4:45am
Yes, I can agree with that. But when I look at this chart for instance. This monthly chart has been going down for 41 months and when you look at the tdi it’s as only cross the red line 4 time in the bull direction .
  • #5
  • Jan 24, 2015 11:55am Jan 24, 2015 11:55am
interesting experiment, would be interesting to see how it goes over the longer term, but maybe instead of no stops use the large time frame support and resistance to put in big stop losses, just in case kind of thing. had you been doing this during the swiss debacle you might be destroyed in 1 shot with no stops at all.
  • #6
  • Jan 25, 2015 4:52am Jan 25, 2015 4:52am
Yes, this is just what I’ve been thinking it’s easy when you have gone into profit, if you look at the charts I have already locked in over £300 in profit,
The decision. I have to make is How much am I prepared to lose in one go.
This will give me my stop.
  • #7
  • Jan 26, 2015 8:55am Jan 26, 2015 8:55am
26/01/ 2015. This is my next trial.
I will run this till I am in profit. I have not decided on the stop, but I will do so over the next day or so, any suggestions where the stop should be, I will take notes.
Attached Image (click to enlarge)
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  • #8
  • Jan 29, 2015 3:34am Jan 29, 2015 3:34am
Here are the results of this 3-day trial and the chart picture. £137.95 profit.
I got out of this trial because I think this monthly candle is not showing a true direction. So it’s back to work now looking for my next trial.
Attached Image (click to enlarge)
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  • #9
  • Edited 5:40am Jan 30, 2015 4:40am | Edited 5:40am
30/01/2015 This is my next trial,
I will run this till I am in profit,


You may have noticed. I am not on the same demo account.
(Problem with my computer) So I’ve opened a new demo account with £5000
Profit on the old demo account was £2697.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpaud MT4.png Size: 89 KB
  • #10
  • Jan 30, 2015 9:25am Jan 30, 2015 9:25am
sounds naive but keep posting...
  • #11
  • Jan 31, 2015 12:29am Jan 31, 2015 12:29am
You only win "every time" because your sample size is so low. Just wait until it pulls back on you and your account is as good as ordering a $900 bottle of wine for the banker who ripped you off.
  • #12
  • Feb 3, 2015 3:46am Feb 3, 2015 3:46am
03/02/2015 update
Just lock the profit in on this one. Let’s see how far it goes.
It when £1500 in the opposite direction.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpaud 2 MT4.png Size: 86 KB
  • #13
  • Feb 3, 2015 3:52am Feb 3, 2015 3:52am
03/02/2015 update
It’s just come right back and took the stop out,
Profit was £587.00
Back to work. Looking for my next trade.
Attached Image (click to enlarge)
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  • #14
  • Feb 3, 2015 4:11am Feb 3, 2015 4:11am
How long do you hold your trades till they come to some support or resistence level ? :-) Dont think that you will have a good RRR
  • #15
  • Feb 3, 2015 5:00am Feb 3, 2015 5:00am
The profits is up to £3284
I am carrying over £2697 from the old demo account.
Adding it to the profit. I have made on this account
Given me a profit of £3284. Let’s see how far we go,
  • #16
  • Feb 3, 2015 5:14am Feb 3, 2015 5:14am
Quoting redfan
Hi traders I’ve not been on this site for some time. What I’ve been doing is a trial with a demo account, What I have found is if you trade on the monthly chart and only trade in the direction of the monthly candle, With no stop loss you win every time. The only time you going to lose. his when the big boss decides the monthly candle are going to go in opposite direction. Which is about every 12 months or two years, when he or she decides to change the direction. The only indicated you need for this way of trading is support and resistance lines....

Hahaha, title is very interesting but all you've written is bullshit, read yourself "With no stop loss you win every time. The only time you going to lose...", this makes no sense at all 4 weeks testing on monthly chart? great test Without stop loss you will finally lose everything! You are not big bank that can create trend...
  • #17
  • Feb 3, 2015 6:02am Feb 3, 2015 6:02am
Quoting insomniawawa
{quote} Hahaha, title is very interesting but all you've written is bullshit, read yourself "With no stop loss you win every time. The only time you going to lose...", this makes no sense at all 4 weeks testing on monthly chart? great test Without stop loss you will finally lose everything! You are not big bank that can create trend...
  • #18
  • Feb 3, 2015 6:09am Feb 3, 2015 6:09am
Attached Image (click to enlarge)
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  • #19
  • Feb 3, 2015 6:19am Feb 3, 2015 6:19am
Quoting redfan
{image}
So how long do you wait untill you open the trade ? a week ? Cause the price can go down for a week or two and then up and make the shadow ..and of course if you opening just trades in direction of trend the price can make a correction of trend which at monthly charts can make a 300or 800 pips and without StopLoss

Just never know how actuall candle close never untill it close and if u trading it without stop loss it could destroy you account

And if you closing your trades at S/R levels You loose 2x much then you make if comes a correction
  • #20
  • Feb 3, 2015 7:54am Feb 3, 2015 7:54am
Look at this chart again.
If you took a trade at 1.5420 in January 2008 and sold.
The trade went down to 1.2314 you would have locked in some profits on the way down. So when it turned against you, you couldn’t lose.
The August candle of 2008 you may have got in that,
But again you would have lock in the profits.
From 2007 the big boss as changes direction 7 times
That 7 potential losses. BUT if you’ve been locking in your profit before it turn
Then you have no losses.
Attached Image (click to enlarge)
Click to Enlarge Name: eur usd 3 MT4.png Size: 102 KB
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