DislikedI don't use Stops, have been trading Forex since 2008 and have NEVER blown out my account. Major traders, hedge funds, banks and other high volume market participants don't use Stops either. The mark of an "amatuer" trader is one who uses Stops. Stops are weapons used by Forex deal desks to take traders out of trades. Some Forex brokers do what is called "stop hunting." The broker manipulates the bid-ask spread momentarily to clear out stops near key price levels. Have you ever had a stop close your trade out, only to see the price of the currency...Ignored
- #522
- Jul 14, 2016 7:52am Jul 14, 2016 7:52am
- Joined Dec 2015 | Status: Suuka Maadik | 3,630 Posts
Maadik Hugiis. IQ 69.
- #525
- Jul 14, 2016 8:57am Jul 14, 2016 8:57am
- Joined Dec 2015 | Status: Suuka Maadik | 3,630 Posts
{quote} Trading without a stop loss and hedging to make the situation better rarely works. Trading without a stoploss and needing to hedge is an indication that you entered a trade without a proper awareness of the context of price. With that in place, you won't trade without a stop loss or hedge effectively/profitably.
Here is one simple system.
The one on the left is trading with stop orders. Buys above, Sells below. The offset is 15 pips from a level. The system on the right is hedging 300% with limit orders. Buys are below and Sells are above. Same 15 pips offset.
When the stop orders hit their SLs, the limit orders (the hedge) are hitting their TPs. As you can see in both dashboards, the P/L of the overall balance is positive, The max P/L is +$266/-$60. The present and the max P/L, at the time of the screenshot (yesterday) are both more than 4 times the max DD.
Not to speak that most of the time, like 90%, the system has a positive DD...
Talk to me about hedging...
Maadik Hugiis. IQ 69.
- #526
- Jul 14, 2016 9:41am Jul 14, 2016 9:41am
- Joined Dec 2015 | Status: Suuka Maadik | 3,630 Posts
Here are two hedging examples from today. On the first screenshot, there is a problem with the P/L on the dashboard. It shows negative P/L, while the real P/L was like $1,886 at the time of closure. Spoke with the developer about that. We decided to chase that problem at later stage, cause this thing appears only after the closure button have been pressed and does not affect any strategy within the EA.
The second screenshot shows the daily P/L and the alert at the time of closure.
The second screenshot shows the daily P/L and the alert at the time of closure.
Maadik Hugiis. IQ 69.
- #527
- Jul 14, 2016 12:37pm Jul 14, 2016 12:37pm
hi everyone my stop loss is just rubbish only to realise that im in a lossing streak anyone with a better idea lets join forces and beat this system 
thats how i roll you can put your stop loss loss and find that you lost a lot and my opinion is to trade with a take profit only and be patient always thats the better way and as ive said earlier lets beat this thing
thats how i roll you can put your stop loss loss and find that you lost a lot and my opinion is to trade with a take profit only and be patient always thats the better way and as ive said earlier lets beat this thing
yes as ive said this mythbusters of experts dont work because im trying to find ways of better myself with starting off slow with a very small account and stop loss are the worst ever thing that exist because you can wait for the trade to go your way
and the hegde logistics seems to get my attention because ive never tried those stuff and anyone with help you are well welcomed LETS DO IT
and the hegde logistics seems to get my attention because ive never tried those stuff and anyone with help you are well welcomed LETS DO IT
yes as ive said this mythbusters of experts dont work because im trying to find ways of better myself with starting off slow with a very small account and stop loss are the worst ever thing that exist because you can wait for the trade to go your way
And if you have no chance to monitor the market/if there are major news coming up and you wish to protect your position.
I think a manual/emergency stop may also suffice if there is no stop loss in place.
- #531
- Jul 24, 2016 12:44pm Jul 24, 2016 12:44pm
- Joined Oct 2013 | Status: Trader | 1,929 Posts
If u luv happiness, start w/ discomfort, make friends w/ pain and failure.
100 Hits 0 Miss All Time Return:
35.8%
- #532
- Edited 7:15pm Jul 28, 2016 7:05pm | Edited 7:15pm
- Joined Oct 2013 | Status: Trader | 1,929 Posts
For those who trades are high leverage accounts, sadly, what happened today, and what you see here is your margin call.
GBPJPY drops 250 pips in less than 300 seconds.
I notice many of you here think stop is not needed trading your way to success, I'd like to ask you think again. Move like this didn't happen every once couple month, it literally happens once couple days sometime even hours.
With a 91% gain and less than 2% DD for the monthly of July, every trade placed along with its sl order. Did my stop hit? yes, it did, i lost 50 pips having my stop hit, BUT I won over 2300 pips in return.
so be careful out there. Stop and think.
--------------------------------------------------------
Weekly Trade Idea on TradingView @FXSayWhat
Trade Tweet on Twitter @MidnightLambada
GBPJPY drops 250 pips in less than 300 seconds.
I notice many of you here think stop is not needed trading your way to success, I'd like to ask you think again. Move like this didn't happen every once couple month, it literally happens once couple days sometime even hours.
With a 91% gain and less than 2% DD for the monthly of July, every trade placed along with its sl order. Did my stop hit? yes, it did, i lost 50 pips having my stop hit, BUT I won over 2300 pips in return.
so be careful out there. Stop and think.
--------------------------------------------------------
Weekly Trade Idea on TradingView @FXSayWhat
Trade Tweet on Twitter @MidnightLambada
If u luv happiness, start w/ discomfort, make friends w/ pain and failure.
100 Hits 0 Miss All Time Return:
35.8%
- #534
- Jul 29, 2016 5:32am Jul 29, 2016 5:32am
Interesting topic. Stop losses really depend on how much you trade on a trade. For Example if I put a 1000 pip SL when I enter a trade but I multi level trade, (use more than one trade entrance on a currency pair) instead of the one and done approach then SL become non existant in actual use. (Multi-level not the same a Martingale a whole different animal) If your lot size is small enough as compared to your account size and you know how to countertrade then SL are not necessary. For example if you trade with 1000 dollars and you trade ten cent...
{quote} I like the way you put that. Totally my friend! Well said. Stop loss I think is a very important part of the trading strategy. It is the insurance to your trade. Not having a stop loss is in my opinion not a good idea.
now i have moved to binary options, so no more headaches about stop losses. no more stop losses
thank God.
