The pro's I know don't use stop losses, but they know where to cut their losses that's the difference
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DislikedThe pro's I know don't use stop losses, but they know where to cut their losses that's the differenceIgnored
Disliked{quote} That's the difference between newbies and the pro's. But most of traders recommend to use stop loss, especially when you have no time to watch those candles due to your 9-5 job...Ignored
DislikedI've read a few pages of this and it's utter nonsense. Is the OP, or any of the other folks who are anti stop loss, willing to hold a losing position for years? The EURUSD has gone straight down 3500 pips this year. Am I to believe that people who don't use stop losses are still holding short positions that may have been entered at the beginning of the year? Not likely. Is OP, and the like, saying that they will never accept defeat? On any trade? Not likely. Mental stop loss, stop loss order, hedge position etc... It's all semantics...They all result...Ignored
DislikedProfessionals will usually have a risk tolerance level in the back of their mind ie monetary value but don't want to set a concrete loss in place. It also depends on the market and the time frame. Bank traders have a luxury of flexibility using the banks balance sheet and don't get a margin call like the retail player. Keeping that in mind retail punters should look at that model and trade within their leverage allowing the position flexibility just in case a news event or market thins out in overnight sessions near NY close and early Australia....Ignored
DislikedThe pro's I know don't use stop losses, but they know where to cut their losses that's the differenceIgnored
DislikedI've read a few pages of this and it's utter nonsense. Is the OP, or any of the other folks who are anti stop loss, willing to hold a losing position for years? The EURUSD has gone straight down 3500 pips this year. Am I to believe that people who don't use stop losses are still holding short positions that may have been entered at the beginning of the year?Ignored