THE ULTIMATE ZERO LINE
If you are day-trading and decide on where best to stop loss and take profit, that perfectly okay. But if you are in the market for the long haul, stop loss is a nuisance. It tends to shut you out just when you are about to ride a spike or fall off a cliff for good.
Those spikes and crashes in your favor are really what skyrocket your portlios, not the intraday profits. What you make in intraday gains you loose in commissions and charges because it takes many repeated market entries to make those gains.
Most long term traders employ some form of hedging that works for them. You can hedge the pairs with each other (weak/strong), or buy out hedging options from commodities, or just accurately figure out the long term direction and stick to it.
The straight horizontal monthly all time regression trend line for any instrument is the ultimate zero line. If the current market price is aboveit, you stay long and keep swapping trade prices until you have a popositive P/L result. If the market price is below zero, you stick to short price swaps until you establish a positive PaL result. FiFir, front-trade these positions on your demo account to be sure that this system works, before you go live. See my Fore explorer results.
THE ULTIMATE ZERO LINE
If you are day-trading and decide on where best to stop loss and take profit, that perfectly okay. But if you in the market for the long haul, stop loss is a nuisance. It tends to shut you out just when you about to ride a spike or fall off a cliff for good.
Those spikes and crashes in your favor are really what skyrocket your portlios, not the intraday profits. What you make in intraday gains you loss in commissions and charges because it many repeated market entries to make those gains.
Most long term traders employ some form of hedging that works for them. You can hedge the pairs with each other (weak/strong), or buy out hedging options from commodities, just figure out the long term direction and stick to it.
The straight horizontal all time regression trend line for any instrument is the ultimate zero line. If the current market price is aboveit, you stay long and keep swapping trade prices until you have a positive PaL result. If the market price is below zero, you stick to short trades until you establish a positive PaL result. First front trade these positions on your demo account to be sure that this system works, before you go live. See my Fore explorer results.
Question - did anyone here trade without a stop loss during Brexit? If you traded at all during Brexit and during the aftermath, that is.
Ignored
Yes I did..why is there an issue?
After all the warnings I was given by the scamming broker and knowing the prior massive move of the market direction and major movement to the Brexit I retained my position.
Problem is that the opposite situation is also possible. I was long on London Stock Exchange, a nice winning position. But I neglected SL, which was kept very wide. So, my demo account lost 57% overnight. I should have made it very tight. Lesson learned: Never forget to update the stops.
Problem is that the opposite situation is also possible. I was long on London Stock Exchange, a nice winning position. But I neglected SL, which was kept very wide. So, my demo account lost 57% overnight. I should have made it very tight. Lesson learned: Never forget to update the stops.
Ignored
Yes your greed got the better of you so you didn't protect your winners!
That is when its best to use SL...
But such is demo trading
{quote} Yes I did..why is there an issue? After all the warnings I was given by the scamming broker and knowing the prior massive move of the market direction and major movement to the Brexit I retained my position.
Ignored
As did I, although I only trade A/U, but even there broker had margins tripled and spreads padded. Didn't really matter though as I don't scalp and was able to profit on my positions.
It's nice to know that at least some others know how to manage risk without stops, too many in here have no clue and don't even specify if they use guaranteed or non guaranteed stops yet believe they are managing risk.
I also survived Brexit volatility without stop loss. Actually my GBP/JPY pair was on the right side of the crash and made some good money. I simply stayed on the short side of the all tI'm equatorp line. You can estimate this line of equator by putting a horizontal line through the mid section of your fully zoomed out M1 chart.
CHARTS SHOWING THE EQUATOR LINES for NZD/USD and GBP/JPY
If the current market price is above the equator line, you go long. If it is below, you go short and stay short.
I also survived Brexit volatility without stop loss. Actually my GBP/JPY pair was on the right side of the crash and made some good money. I simply stayed on the short side of the all tI'm equatorp line. You can estimate this line of equator by putting a horizontal line through the mid section of your fully zoomed out M1 chart.
I also survived Brexit volatility without stop loss. Actually my GBP/JPY pair was on the right side of the crash and made some good money. I simply stayed on the short side of the all tI'm equatorp line. You can estimate this line of equator by putting a horizontal line through the mid section of your fully zoomed out M1 chart.
{quote} As did I, although I only trade A/U, but even there broker had margins tripled and spreads padded. Didn't really matter though as I don't scalp and was able to profit on my positions. It's nice to know that at least some others know how to manage risk without stops, too many in here have no clue and don't even specify if they use guaranteed or non guaranteed stops yet believe they are managing risk.
Ignored
Yes I also like the A/U which is one of the safest to trade and I'm sure that's why it is your choice.
{quote} Yes I also like the A/U which is one of the safest to trade and I'm sure that's why it is your choice.
Ignored
More just that I am an Aussie (trade what you know) and good to trade against a major. May expand my pairing range once I've got one down pat, not before (although I did have brief look at GBP options ahead of brexit (would only ever consider buying put or call, never selling them uncovered).
{quote} Yes I did..why is there an issue? After all the warnings I was given by the scamming broker and knowing the prior massive move of the market direction and major movement to the Brexit I retained my position.
Ignored
There's no issue, I was just curious. I am glad everything turned out fine.
The charts are actually from my real FXCM account. Check with FXCM if you don't believe me. It's real money. If you understand how to make demo money, you can safely translate that into real money in the live environment of the demo platform.
{quote} The charts are actually from my real FXCM account. Check with FXCM if you don't believe me. It's real money. If you understand how to make demo money, you can safely translate that into real money in the live environment of the demo platform.
Ignored
So what you want me to believe is that since you're using FXCM charts it equates to a real account right? And your explorer has demo only yes?
It's obvious that it is a real account right ..... I love stories like this I can almost write a book about them and make money selling the books rather than trying to take money from the brokers.
By the way you can make all the demo money you want it doesn't equate to be able to make real money so just that statement alone shows you don't know how to make real money. I can make millions and billions on demo and very easily and can't replicate it on real do you know why? When you know why you can begin making real money and until then you are clueless.
If you give me your Skype userme, I will video-Skype you and show you one of my live accounts. There is no need for name calling. I use the same strategies on both demo and real accounts, and they work both ways on FXCM and TD-Ameritrade. Period. Case closed.
I survived without a stop loss by 3 am I was up almost 1000%. needless to say I gave most of it back without that stop loss. still made out with about 100% not bad but could of been better had I used a stop loss. moral of the story is either quit while your ahead (which I don't know about you all but that's kinda hard for me when you make $300 in the matter of minutes) or trade with a stop loss, unless you don't care about your money... you live you learn
If you give me your Skype userme, I will video-Skype you and show you one of my live accounts. There is no need for name calling. I use the same strategies on both demo and real accounts, and they work both ways on FXCM and TD-Ameritrade. Period. Case closed.
Ignored
Name calling? Hmmm you should be working on your literacy skills not your demo trading.
If you have an real account that can make profits why not show everyone. Oh I know why most hide it so they don't get embarrassed when they blow it up as millions do.
By he way with stop losses used all the time my accounts would have been wiped over and over and over, so I do use them but only at times and as one can see from my real not micro accounts non use of stop losses can work advantageous but not all the time.
