Real Fx traders do not use stoploss | Page 25 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Do you use stoploss? 697 replies

What stoploss do you use? 27 replies

forex tip - Don't use a fixed stoploss brokers can target 23 replies

Personal Take Profit and Stoploss (per human, not per trade) 0 replies

Attachments: Real Fx traders do not use stoploss
Exit Attachments

Real Fx traders do not use stoploss

  • #481
  • Oct 28, 2015 5:56am Oct 28, 2015 5:56am
The pro's I know don't use stop losses, but they know where to cut their losses that's the difference
  • #482
  • Oct 28, 2015 9:45pm Oct 28, 2015 9:45pm
Quoting Wannabechamp
The pro's I know don't use stop losses, but they know where to cut their losses that's the difference
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...
  • #483
  • Oct 29, 2015 7:15am Oct 29, 2015 7:15am
This post was from 2005 - I wonder if he started trading with no SL?
  • #484
  • Nov 1, 2015 7:25am Nov 1, 2015 7:25am
I'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 in a trader being flat (no position on). I don't believe that a successful trader never accepts defeat on a trade.
  • #485
  • Nov 1, 2015 3:38pm Nov 1, 2015 3:38pm
Quoting AndikaAnjani
{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...
To be honest, I think stop losses are great from my experience depending your job and where you are.

Swings I use SL, I dont care if the broker takes me out on spread I generally take it into account.

However intraday I do not but its a rocky road... If you have been in the market you know moves of 1000 of pips can happen... the EURCHF was a prime example back in January, when I was in my brokerage firm at the time my Client lost millions, and another client was a millionaire from 13k. But you need to be able to watch yourself and trade accordingly.

I think newbies need a SL otherwise they sit in their trade wishing for a forever turn lol
  • #486
  • Nov 1, 2015 3:41pm Nov 1, 2015 3:41pm
Quoting beastwork
I'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...
Successful traders accept defeat.. I accept defeat... so do my friends

if you heard the saying 'market is always right' don't put your ego on the line because you are going to deny a loss. Trading is losing and winning, but successful is just determined by your P/L at the end of the year.

So totally agree with you there.

Mental SL is ALWAYS there, its part of risk management.

And what I teach/preach or talk about is risk management is always the most important aspect in trading.
  • #487
  • Nov 4, 2015 11:50pm Nov 4, 2015 11:50pm
I would advise using a stoploss, without one your loss is unlimited. It's up to the personal preference of the trader managing their account though.

It's important as a trader to be able to be versatile, and get out of positions when they turn against you to the point where you are no longer comfortable with. There are plenty more opportunities out there.
  • #488
  • Nov 6, 2015 5:09am Nov 6, 2015 5:09am
I stumbled upon an article stating the same idea, and it surprised me. I thought stoploss is quite a usual, so to say normal tool that is a "must" for successful trading. Then, I realized it's not a hundred percent truth... Weird, but it makes some sense. In short, stoploss may incur more losses as compared to the situation when you don't use it. But I assume this practice is for experienced traders, not for beginners.
  • #489
  • Dec 9, 2015 9:03pm Dec 9, 2015 9:03pm
i think its ok to use stop lose, because u cant see the chart all the time. especially the trader that have time to do forex trading, because they do forex trading just be a side job.
any trader have their own way to do forex trading, just do what u think its good for u, i think.
  • #490
  • Dec 10, 2015 3:11am Dec 10, 2015 3:11am
Quoting lasty
Professionals 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....
i use SL when it reachs to profit zone coz i believe the price will move to profit zone sooner or later
  • #491
  • Dec 19, 2015 10:28am Dec 19, 2015 10:28am
Quoting Wannabechamp
The pro's I know don't use stop losses, but they know where to cut their losses that's the difference
A mental stoploss is a stoploss, nonetheless. I guess a better discussion would be "hard stoploss vs soft/mental stoploss".

Quoting beastwork
I'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?
It's funny to see some "winning" trade explorers / myfxbooks and then find out they're holding losing positions that are down 2000 pips. To me, it's asinine to have your equity tied up into losing trades rather than accepting the loss. Meanwhile, winning trades are passing you by. Of course, as a beginner, I didn't realize that at first. It's something that experience taught me. Also, when you have a set number of trades and figure out what your maximum adverse excursion is, stoplosses (whether hard or soft) motivate you to fine-tune your entries in order to increase your R and to get a better understanding of the market.
  • #492
  • Dec 27, 2015 8:14pm Dec 27, 2015 8:14pm
but u can said that stop loss is a part of trader analysis, with a good analysis trader can place the SL at the right place, just always try to improve ur analysis skill when u do forex trading will help u to make more profit and help u to minimize ur chance to face with loss.
  • #493
  • Dec 28, 2015 12:33am Dec 28, 2015 12:33am
really? what if it goes down or up 3000pips+
only small stakes or very large accounts can work around this

Highly risky for retail traders with small account size
  • #494
  • Jan 24, 2016 7:43pm Jan 24, 2016 7:43pm
trade forex without using stop loss I think it is too dangerous. Forex is a business that has a high risk, so we need to always use a stop loss to minimize the risk of forex properly. So our account will not have a lot of losses
  • #495
  • Feb 22, 2016 8:50am Feb 22, 2016 8:50am
It's like "Real cowboys still smoke"
SL is required in my opinion.
  • #496
  • Feb 22, 2016 3:00pm Feb 22, 2016 3:00pm
thread owner was last online in 2006... guess he stopped trading ...

good luck trading without a SL.
practising coitus interruptus
  • #497
  • Feb 22, 2016 6:36pm Feb 22, 2016 6:36pm
latest answer to a old question

regular forex trader w/o stop loss
Attached Image
  • #498
  • Feb 25, 2016 4:32am Feb 25, 2016 4:32am
I can't imagine trading without a stop loss, the risk seems too great. I could lose access to the account for any reason and then if things go sideways I wouldn't be able to close losing positions.
  • #499
  • Feb 25, 2016 5:11am Feb 25, 2016 5:11am
[quote=avibe;8770115]thread owner was last online in 2006... guess he stopped trading ... good luck trading without a SL.[/quot
Yes he is no more around because he did not use stops.
Never Ever Give Up!
  • #500
  • Feb 25, 2016 3:12pm Feb 25, 2016 3:12pm
Quoting Cobra
Yes he is no more around because he did not use stops.

hehehe LOL
practising coitus interruptus
0 traders viewing now