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Trading without a stop loss!

  • #81
  • Mar 19, 2016 2:18pm Mar 19, 2016 2:18pm
lets be, does not use stop-loss but Stand trailing stop, it would be better put on stop loss ^-^
what?
  • #82
  • Mar 19, 2016 10:08pm Mar 19, 2016 10:08pm
I used to trade with stops but now Ive stopped using them but I also reduced my trade size to .01 for every $1000.
  • #83
  • Mar 22, 2016 1:52pm Mar 22, 2016 1:52pm
​Yeah. I sold eur/gbp on 25/11/15 , without a stop loss. I am now fucked.
  • #84
  • Mar 22, 2016 2:00pm Mar 22, 2016 2:00pm
Quoting TheGreatMilenko
​Yeah. I sold eur/gbp on 25/11/15 , without a stop loss. I am now fucked.
Depends on your lot size relative to your account you have to make sure you have enough money to carry the trade good luck
  • #85
  • Edited 4:40pm Mar 22, 2016 4:26pm | Edited 4:40pm
No Stop loss.
Just mange risk with size.
Still take losses but just on terms that are more favorable to me.
Got a video somewhere see if I can find it.
  • #86
  • Mar 22, 2016 4:55pm Mar 22, 2016 4:55pm
Inserted Video
  • #87
  • Mar 22, 2016 5:48pm Mar 22, 2016 5:48pm
No stop loss.
Dragon Rider
  • #88
  • Mar 29, 2016 9:51am Mar 29, 2016 9:51am
Why don't you apply a risk reward ratio that suits to avoid losing more than you are willing to?
  • #89
  • Mar 29, 2016 8:39pm Mar 29, 2016 8:39pm
Quoting bustech
No Stop loss. Just mange risk with size. Still take losses but just on terms that are more favorable to me. Got a video somewhere see if I can find it.
Even if you manage trades actively, have a crazy stop loss 1000 pip away for the time when markets go to haywire. Pending order are executed by the broker's server in split millisecond once stop loss price is hit. Meanwhile, even if you click close on your platform exactly at the same time, latency alone will put you in a very disadvantaged position. It would take hundreds of millisecond for your order to reach the broker's server and by that time, people like me with pending orders would have consumed all available liquidity.

Think of it in this way, it's either stop loss(which you can control) or margin call(which you cant control).
@trader_umr
  • #90
  • Mar 30, 2016 1:16am Mar 30, 2016 1:16am
Quoting breaststroke
{quote} Even if you manage trades actively, have a crazy stop loss 1000 pip away for the time when markets go to haywire. Pending order are executed by the broker's server in split millisecond once stop loss price is hit. Meanwhile, even if you click close on your platform exactly at the same time, latency alone will put you in a very disadvantaged position. It would take hundreds of millisecond for your order to reach the broker's server and by that time, people like me with pending orders would have consumed all available liquidity. Think of it...
Good post for the intermediate traders. My disaster stop is based on the average monthly range for whatever pair Im trading. Just in case ISIS gets a bomb or N. Korea attacks S. Korea or something like that.
If you are good at something, never do it for free--Joker
  • #91
  • Mar 30, 2016 2:09am Mar 30, 2016 2:09am
It's a repeat of my old broken record: know where your account is truly in danger.

I just closed out a GBP/AUD SHORT at 1.90...

Up to recent, review a GBP/AUD chart and look at the last time it was at 1.90 other than current - yes, I held that trade for quite some time, but, the account was not in danger the entire time. Matter of fact, the swaps weren't bad....

know where you account is truly in danger before you enter any trade and the idea of trading without a stop loss gets a lot easier to manage.

What this also brings out is more depth to the topic of money management....Sure, there's managing your trades money management, but there's also "how will just opening this trade impact my account" money management....Either it's discussed with terms I've never heard or the matter just doesn't get discussed much.
"Holy Grail" exists - accepting where is the first step.
  • #92
  • Mar 30, 2016 2:23am Mar 30, 2016 2:23am
Quoting VaBikePacker
It's a repeat of my old broken record: know where your account is truly in danger. I just closed out a GBP/AUD SHORT at 1.90... Up to recent, review a GBP/AUD chart and look at the last time it was at 1.90 other than current - yes, I held that trade for quite some time, but, the account was not in danger the entire time. Matter of fact, the swaps weren't bad.... know where you account is truly in danger before you enter any trade and the idea of trading without a stop loss gets a lot easier to manage. What this also brings out is more depth to the...
It does not get discussed much. I see many, many posts talking about risk per trade. Never do they discuss the range that involves the risk. Risking one percent over ten pips is radically different than risking one percent over 1000 pips.
If you are good at something, never do it for free--Joker
  • #93
  • Mar 30, 2016 3:58am Mar 30, 2016 3:58am
i will say that retail forex is like chess, unlike instituitional. when you enter a position, you MUST have the expectation of what the next market's move is going to be. if that move opposes your initial view, that's the time to sacrifice the pawn for the good of the queen(acc balance). one doesnt necessarily have to use SL/TP. just know where to close and take profit and take losses.

the classic, I SHOULD HAVE HELD LONGER AND MY PROFITS WILL BE DOUBLE/I SHOULDNT CLOSE IT MARKET SEEMS THAT IT WILL PULL BACK IS BULLSH!T! simply because retail traders merely speculate. no tangible contracts are involved and thus in no way, cumulative net positions are moving markets in any way,sort or form.
  • #94
  • Mar 30, 2016 4:21am Mar 30, 2016 4:21am
Quoting jmn5611
{quote} average monthly range for whatever pair Im trading.
hello Jim. How do you quantify/calculate this range?
  • #95
  • Mar 30, 2016 5:24am Mar 30, 2016 5:24am
Quoting jmn5611
{quote} It does not get discussed much. I see many, many posts talking about risk per trade. Never do they discuss the range that involves the risk. Risking one percent over ten pips is radically different than risking one percent over 1000 pips.
Thanks for letting me know I'm not misunderstanding what I see over and over

Hope you're doing great JMN! Always enjoy keeping up with ya here....
"Holy Grail" exists - accepting where is the first step.
  • #96
  • Mar 30, 2016 1:14pm Mar 30, 2016 1:14pm
Quoting LITEchild
{quote} hello Jim. How do you quantify/calculate this range?
I look at the last 10 years, 5 years, and one year.
If you are good at something, never do it for free--Joker
  • #97
  • Mar 30, 2016 1:24pm Mar 30, 2016 1:24pm
Quoting VaBikePacker
{quote} Thanks for letting me know I'm not misunderstanding what I see over and over Hope you're doing great JMN! Always enjoy keeping up with ya here....
I'm just sitting here watching the wheels go round and round. I really love to watch them roll.
If you are good at something, never do it for free--Joker
  • #98
  • Apr 2, 2016 4:17am Apr 2, 2016 4:17am
Trading without a hard stop loss (the stop level you enter in the trading platform when executing a trade) as long as you know where you will manually exit in case of loss is not a bad idea, but trading with no stop loss at all (either hard stop or soft/mental stop) is a horrible idea that will put a tragic end to your account.
  • #99
  • Apr 3, 2016 12:50pm Apr 3, 2016 12:50pm
This is what happens when you trade WITHOUT a Stoploss.Please Please DONOT do it.This was investors money and the forex trader managing the money has gone into hiding.Investor lost all their moneys.Again folks PLEASE use a stop and protect your funds you will live to trade another day

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  • #100
  • Apr 7, 2016 5:22am Apr 7, 2016 5:22am
I set my SL and TP on 80% of daily minimum/maximum (if there was no major market movement) - it allows me to handle risks while staying quite profitable
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