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Trading Without a StopLoss

  • #2,701
  • Oct 6, 2015 8:36am Oct 6, 2015 8:36am
Quoting PierreMiller
Trading without SL is possible and it gives good results. But you can lose all your money if the market collapses very active against you. Example CHF
Yes, that's right.
Once I forgot to set SL and next time I looked to terminal - it was about 300$ in loss.
Then by my luck trend went back to my direction. I even got a nice profit (as I chose the right trend from the beginning).
But stress that I got was really huge.
This was my first and last time without SL.
  • #2,702
  • Oct 6, 2015 8:36am Oct 6, 2015 8:36am
Quoting DenForex
Trading without stop losses is very risky. You have not an insurance. If you intraday trader or scalper, you can trading without stop losses, becouse oscillations of market prise is not very hight. But if you trade on the news or you are long-time trader, you should use a stop losses, how i think.
True. You say my thoughts
  • #2,703
  • Oct 9, 2015 10:28am Oct 9, 2015 10:28am
So. I read this thread and what i want say... If you want trading with stop losses it will be short time trading and i have opinion what it is one case when it possible. I like to trade on the news and i need use SL. And you should remember shift SL in time.
  • #2,704
  • Oct 19, 2015 8:59am Oct 19, 2015 8:59am
I started reading this thread 1 1/2 year ago and following are the results

http://www.forexfactory.com/showthre...84#post8538084

Now, I trade without SL.
Money Management initiate returns. Thanks
Prachait Saxena
  • #2,705
  • Oct 19, 2015 9:07am Oct 19, 2015 9:07am
There are old traders and there are bold traders, but there are very few old and bold traders.
  • #2,706
  • Oct 20, 2015 4:16am Oct 20, 2015 4:16am
There are certain advantages in trading without stoploss. The main is that you can withstand strong reversal impulses on news, or market opening. But at the same time one mistake and you make a sad face looking at your balance. Trading without stoploss is viable only when you keep an eye on your charts and close your orders manually. Leaving orders without stoploss and closing the terminal is a maddness.
  • #2,707
  • Oct 20, 2015 10:02am Oct 20, 2015 10:02am
Quoting mrMeihner
There are certain advantages in trading without stoploss. The main is that you can withstand strong reversal impulses on news, or market opening. But at the same time one mistake and you make a sad face looking at your balance. Trading without stoploss is viable only when you keep an eye on your charts and close your orders manually. Leaving orders without stoploss and closing the terminal is a maddness.
I can't stress enough how important position sizing is in trading, with or without a stoploss. It's increasingly apparent that in the land of the inexperienced, trying to explain a trading method that isn't "run of the mill" is virtually impossible. I've been trading for years without stop losses and the worst market movement I ever sat through without stop losses was the SNB decision. Granted, I profited off of it but - as mentioned before in this thread - if the market had moved against me, it wouldn't have phased me in the least.

You'll never be able to explain to someone with a $1,000 account that managing a diversified inventory of positions without stop losses is possible. Those people are typically leveraging their butts to the hilt trying to make an annual salary in a month. Forex Forums are the lands of shattered dreams. If there's anything I've learned from them it's that if you're doing what forum participants are, you'll fall on your face just like they do. I can say with utmost confidence that years ago, when I stopped digging through threads for trading methods and indicators, my trading turned around completely. I also recently ditched MT4 altogether to kill the inherent desire to code my own indicators - this in itself has helped tremendously.

I mentioned in another thread about the same subject that we all have different expectations of profit, we all have different expectations of how fast we should make those profits, we all have different risk tolerances, and we all see the market differently. It's no secret that the majority of retail traders fail. Brokerage metrics put retail trader profitability at anywhere between 5% and 30% and I'll tell you this, it's the 70-95% that are here, every day, authoring threads, and boasting thousands of thread replies running demo accounts as a hobby. The more people here that tell me I'm doing it wrong, the more confident I am that I'm doing it right. The corpses of hundreds (if not thousands) of once confident, dead threads littering the backroom of this forum alone is evidence enough for me.
  • #2,708
  • Oct 21, 2015 1:16pm Oct 21, 2015 1:16pm
You don't need me to tell you, but from a position of 12 years full-time trading and 30,000 hours of trading screen time - you're doing it right.
  • #2,709
  • Dec 2, 2015 9:11pm Dec 2, 2015 9:11pm
any trader have their own technique, just because u use stop loss, doesnt mean u will never face lose. so i think its up to the trader, wanna use it or not
  • #2,710
  • Dec 7, 2015 11:51am Dec 7, 2015 11:51am
Quoting dare123
Good-day All, I choose to stop trading with stoploss. I now trade without stoploss. What do you think about trading without stoploss? and if you are currently trading this way or you have traded this way before, kindly share your expirience.

The problem with trading without any stop loss is that at one point the market will go against your position significantly and you will be forced close out for a large loss or face blowing up the account. Now, you might say, so what, since I am trading without a stop loss (or just an emergency stop-loss, placed far away from my entry) I will have many more winning trades to cover any loses due to the fact that my entries need not be as accurate as with a system that is traded with tighter stops. The risk is this:

One constant in trading is that you cannot chose the distribution of your winning trades. In other words, you can never tell if the next trades will be winners or losers. If you end up having a string of losing trades, back-to-back, (or one large one if you apply a lot of leverage) your account will be in trouble unless you had enough winning trades beforehand to cover them. And this is the big IF.

Some hedge fund that sell option premium specialize in maximizing the winning trades in order to cover the large loses that are inevitable during a market crash. You are essentially taken the same risk as a trader that sells naked option for premium on the SP500 if you trade without a stop-loss.

Q
__________________________________________
>> Quinton's Simple & Effortless Trading thread
  • #2,711
  • Dec 8, 2015 9:01pm Dec 8, 2015 9:01pm
i think trading without stop loss have a big risk, because if u r trader that's not have time to see ur trade all time. u should use stop loss, to protect your account when the price move opposite with what was u predicted.
  • #2,712
  • Dec 28, 2015 11:31am Dec 28, 2015 11:31am
Quoting Bilstein
{quote} I can't stress enough how important position sizing is in trading, with or without a stoploss. It's increasingly apparent that in the land of the inexperienced, trying to explain a trading method that isn't "run of the mill" is virtually impossible. I've been trading for years without stop losses and the worst market movement I ever sat through without stop losses was the SNB decision. Granted, I profited off of it but - as mentioned before in this thread - if the market had moved against me, it wouldn't have phased me in the least. You'll...
Exactly. Got it in a nutshell. Wise words.
  • #2,713
  • Dec 29, 2015 3:21pm Dec 29, 2015 3:21pm
Trading without stop loss can be very dangerous which is why i always use it in every trade i open.
  • #2,714
  • Dec 30, 2015 2:05am Dec 30, 2015 2:05am
ya it is possible but for that you have well trading skill about this market and also you have to great knowledge of this market because judging the market is more important for all trader and also doing god trade in forex is the key role for trader
  • #2,715
  • Jan 5, 2016 10:33pm Jan 5, 2016 10:33pm
Quoting VaBikePacker
{quote} I've found after loads of number crunching that what the market does in one direction it can do double in the opposite...and does...just becomes a waiting game... So, the risk management side of the house gets pretty easy: the further into a move, according to "distance history" a pair goes, the higher the probability of a reversal in the other direction....Yeh, like an NFP announcement that causes direction to not make sense that in reality is the beginning of a significant reversal. The "difficulty" of what I do is why I only trade a few...
Very true!!!
  • #2,716
  • Feb 4, 2016 4:14am Feb 4, 2016 4:14am
So, I see, what traders have different oppinions for this topic. But, i have to say what using stop losses depends of your strategy. You can be a scalper and sl do not usable for you. If you use H4, D1 for your strategy, you can put sl and usind tralling stop to avoid any deprivation.
  • #2,717
  • Oct 10, 2016 1:34pm Oct 10, 2016 1:34pm
Quoting DenForex
So, I see, what traders have different oppinions for this topic. But, i have to say what using stop losses depends of your strategy. You can be a scalper and sl do not usable for you. If you use H4, D1 for your strategy, you can put sl and usind tralling stop to avoid any deprivation.
Correct. I trade Price Action on News with M1 and I don't need a stop loss. It'll stop me out anyway.

It depends on the currency pair though. EURUSD is pretty stable.
  • #2,718
  • Oct 11, 2016 11:01am Oct 11, 2016 11:01am
If was trading for a living with large deposit.. use of sl would be essential so that risk is under control. if you use margin call as SL then obviously you must be ready to blow the account.
  • #2,719
  • Oct 12, 2016 3:39am Oct 12, 2016 3:39am
Quoting Noorx
{quote} Correct. I trade Price Action on News with M1 and I don't need a stop loss. It'll stop me out anyway. It depends on the currency pair though. EURUSD is pretty stable.
Aha!!!.... Gotcha Noorx!!!.... so you still trade your system huh?
  • #2,720
  • Oct 12, 2016 6:36am Oct 12, 2016 6:36am
Quoting Koop
{quote} Aha!!!.... Gotcha Noorx!!!.... so you still trade your system huh?
I already PM'ed you about it, I changed it but with M1. The one you know doesn't work anymore on AUD/USD.
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