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Trading without stop-losses

AAAaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaah! FINBAR. I like the one with Rowan Atkinson. You said trading without a Stop Loss will look like, with illustrated photos. But you see, it is better to be like Rowan Atkinson, He is worth more than £100Million, I only need a few £Million. I agree with you there. Hence, I know with my type of trading in less than a year, I will accumulate over £1Million with just £1000 deposit and without withdrawing any cash within the accumulation period. So, starting with £1000.00 on the first month and using £1 a point, it will return me over £2000. With current rate of a DEMO trading, it is showing me almost double my initial Deposit with just FIVE days trading. But I use it in ONE month and month to month as a conservative with Profit. Then, on the second month, with a Balance say, £2000.00 I double to £20.00 a point. The third month at £4000.00 profit on the second month, double the point to £40.00. The Fourth month start with £8000.00, is £80.00 per PIP and so on. If it remained consistent or as a figure of speech accurately doubling the Profit, by the end of eleventh month, the total sum in the account Balance is £1.056,000. But so far, with current profits showing my DEMO account, it will reach my target in LESS than SIX months.

So, for the time being, I need to proof my myself with consistent daily profit or end of each month's profit
Great to know that you are making progress in your demo account and being consistent with your profits ujongpasir.Keep up the good works.All the best in your trading
Goal of a successful trader is to make the best trades. Money is secondary
Trading leverage without stops? You too can have an account that looks like this!:

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If you're not in the 5% yet it's because you have to try 95% harder.
Dr. Octagon
Trading leverage without stops? You too can have an account that looks like this!:

Aaaaaaaaaaaaaaaaaaah, Dr Octagon, I see you showed me an account number with a minus equity. I am now wondering how the company did not close the account immediate the moment it was reaching a value when there is not enough money to cover the sum during the trade. When I first started 'live' trading, and dozens of times depositing and my account closed automatically and it did not show any monies owed or in minus equity. You see, unlike the name Octagon, it seems to me, it sound as though there are eight thoughts and too confusing to end with an account with minus Equity! LOL!. You see, I chose 'Unong Pair' as my username, and it means 'end of a sand dune' it merely represents my feeling that I have come to a conclusion, I will never go another step to fall over the edge. I do apologies for my tongue in cheek reply. But the Forum needs some philosophy input to give people some sense or 'upbeat'

I am sure you are absolutely correct this will happen if one trades on an instrument with leverage. I hope I am correct in my aforesaid sentence. I am not one to follow any terms or whatever advice said when trading. All I know is, to make sure what I spent is what I gain. No leverage unless I understand it through asking support to explain issues
You sound like a loser libtard lmao.. Here's a picture of my back yard, show me yours if you even have one.
As long as you continue to act like a loser you're going to stay a loser.



Quoting tradability
{quote} You must be the loser of trading one can see by your results tool. The only thing your good at is pretending and riding crappy bikes. Which jail did you escape from?
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Click to Enlarge Name: MyBackyard-1024.jpg Size: 424 KB
Charts never lie! (everyone else does) ... now where's that FF Adult lounge
Quoting TraderJoe
You sound like a loser libtard lmao.. Here's a picture of my back yard, show me yours if you even have one. As long as you continue to act like a loser you're going to stay a loser. {quote} {image}

WOW you enjoy living in poverty huh
i trade with SL because i dont want a massive drawdown. moreover, because of my MM strategy, 400pips loss can wipe off my account (i double my lot size after each 400pips). so i stick with my 20-30pips SL and my 60-100 TP (i accept the little i get)
Quoting ujongpasir
" I am now wondering how the company did not close the account immediate the moment it was reaching a value when there is not enough money to cover the sum during the trade.
It's called a gap.
If you're not in the 5% yet it's because you have to try 95% harder.
gabanda
i trade with SL because i dont want a massive drawdown. moreover, because of my MM strategy, 400pips loss can wipe off my account (i double my lot size after each 400pips). so i stick with my 20-30pips SL and my 60-100 TP (i accept the little i get)

You are absolutely correct to use S and L. If you use Stop Loss, you are betting it to move in your direction. If not, you take the Loss. However, this is also correct when you are not at your desk to observe when you need to control the max you want to lose. There again, you may not have the time to stay at your desk with other daily routines you attend in between market movements. But you need to study the periodical charts of the Daily, 4 Hourly and 2 Hourly including most important 15 Minutes charts, if you are using only 20-30 pips. I do not use S and L in all the years I traded and never will, due to scalping trades. However, if you want to weight the Profits against Loss, I guess, it is better to put the Limit at 200 and 100 Loss. I let you do the Math. You see, fear is the downfall of traders who lose consistently. I know, I have been there for more than 5 years.

Good luck!
Quoting mlawson71
{quote} True. Unless the wi-fi gets knocked out by the power outage as well. It happened to me once, I still cringe when I remember.
It happened to me to, so I connected mobile phone and laptop. Laptop was using 3G/4G internet through mobile phone. It worked great.
trading without stop loss is unwise

as someone said perhaps you dont chose you appropriate sl it is better to put them above the resistence or beyond support level
The problem there is one has to know which support and resistance levels are the biggest cause for concern.
I dont trade with stop losses but im still learning.


Check this out

http://www.forexfactory.com/showthread.php?t=237739 Dongsky --True master -- He is the benchmark of what i call true skill.
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http://www.forexfactory.com/showthread.php?t=204878 Billy888 -- Follow him through those 2 threads he went 500 to 10000 in a few months without SL, he never increased his lot size.
http://www.forexfactory.com/showthread.php?t=575746
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http://www.forexfactory.com/showthread.php?t=588764 Pivot Trading with TDI --Members show awesome results following that system.

There you go three examples that show its possible.

Dont listen to Close minded traders...everything is possible and everyone is different.

Find what works for you.
Dragon Rider
Quoting ujongpasir
I see you showed me an account number with a minus equity. I am now wondering how the company did not close the account immediate the moment it was reaching a value when there is not enough money to cover the sum during the trade.
Some brokers do not have margin calls.
You cannot be extraordinary by being normal
When you enter the market, there are many traders still in it. After you enter, there are other traders who enter after you. Do you know what any single one of them will do? Each one uses his/her own edge to enter/exit. Do you know what it is for every trader? You have no idea what will happen next. Any single trader can do anything at any time and create chaos to your position. You need to use a stop loss as a counter measure to defend against the actions of previous and future traders. It is merely common sense. Remember the market is not candles and lines. It is people who are trading by their own methods. Most of the time you can group buyers/sellers into a direction, but there is no rule that says it has to be true. Protect your assets from the rogues.
You cannot be extraordinary by being normal
Quoting dkrock
When you enter the market, there are many traders still in it. After you enter, there are other traders who enter after you. Do you know what any single one of them will do? Each one uses his/her own edge to enter/exit. Do you know what it is for every trader? You have no idea what will happen next. Any single trader can do anything at any time and create chaos to your position. You need to use a stop loss as a counter measure to defend against the actions of previous and future traders. It is merely common sense. Remember the market is not candles...
"Protect your assets from the rogues"
There are no rogues. The market as a whole is an impersonal entity. To put it simply, the market will always move in the direction that causes the greatest financial damage to the greatest number of accounts.
Quoting Mingary
{quote} "Protect your assets from the rogues" There are no rogues. The market as a whole is an impersonal entity. To put it simply, the market will always move in the direction that causes the greatest financial damage to the greatest number of accounts.
That is the most inaccurate assessment of trading that I have ever heard. The entire market is based on the actions of people's perception, whether mentally, or mathematically. There is no evil "market" out to get you, LOL. It moves on the behavior of individual participants who are currently using it. It changes constantly as the traders and their lot sizes move in and out. There is no such thing as a person named Market, lol. It is simply people trying to make money for themselves, and has nothing to do with any collective market mentality. That is simply false thinking. If you make profit, it is yours, not some person named Market's. If you lose money, it means some other person made it, not some person named Market. There is no such thing as Mr or Mrs Market. It is you or me. One of us wins, the other loses.

One very simple way to be a rogue is to buy lots in increments as price is going in one general direction. Let's say I buy 500 lots every 15 minutes and my time in the trade is 4 hours. I have 8000 buy lots. After lunch I plan to go to see a performance at my child's school. Each of my trades is in profit, so I just close them all at once. Will that take out your stop? Will it cause buyers to panic and also sell? Do I care? That is just one thing that happens every day. Was I trying to take you out? lol. No. I had profit, it was time to go, so I left. You have no idea what any trader will do next at any time. Protect yourself.
You cannot be extraordinary by being normal
Quoting dkrock
{quote} That is the most inaccurate assessment of trading that I have ever heard. The entire market is based on the actions of people's perception, whether mentally, or mathematically. There is no evil "market" out to get you, LOL. It moves on the behavior of individual participants who are currently using it. It changes constantly as the traders and their lot sizes move in and out. There is no such thing as a person named Market, lol. It is simply people trying to make money for themselves, and has nothing to do with any collective market mentality....
What I am saying is that -we humans - are creating and acting on a public and open financial market by putting money at risk; "the forex retail market" as a whole can only continue to exist if and only if it continues to behave in the way that I described it.
Within this design, it is of course possible for an individual to make and lose some money ...
The huge difference with forex compared to the other financial markets is that over time the entire amount of all the customer accounts are slowly transferred into broker revenue via the transaction cost.
the smart idiot would put their equity with the broker, the logical trader would give the broker margin for their positions
Quoting Mingary
{quote} "Protect your assets from the rogues" There are no rogues. The market as a whole is an impersonal entity. To put it simply, the market will always move in the direction that causes the greatest financial damage to the greatest number of accounts.
I cant agree with that statement.
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