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Trading Without a StopLoss

  • #2,721
  • Edited 8:44am Oct 12, 2016 8:26am | Edited 8:44am
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...
This x100

Most of you dont grasp the concept of no stop loss, its just a different type of trading where draw down is part of a normal day.
The market can only go so far each day and even if you mess up the market will provide several opportunities to redeem your position.


If no stop loss trading is killing your account chances is either over leverage or over trading, or under-capitalizing.

Those stats are from no stop loss trading.
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Dragon Rider
  • #2,722
  • Oct 12, 2016 9:07am Oct 12, 2016 9:07am
Trading without SL requires a great deal of discipline. What I do is that I place a rectangular mark where SL should be. When it gets to the position where I place my rectangular mark I close manually. You can place a mark and close position when price gets there. Every trader has his/her style. If you copy any trading style that doesn't fit you, you can never be profitable. Am into swing trading. Trading without SL is something that sounds so stupid to some traders, and so I don't even discuss it with my close trading friends each time we discuss. We should not deceive ourselves that SL protects our trading account. I trade Daily,weekly and monthly candlestics setup and I don't trade news. News offers opportunity for brokers to trigger SL. You would observe that sometimes after your SL is triggered then market turns and obeys the direction of trade. I check the weekly and monthly movement and look for entry on daily. I have found out that one the reasons our SL trigger is the fact that we over-analyze our setup. Then we jump in at the middle of trending market only to be hit by strong retracement.
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -49.2%
  • #2,723
  • Oct 12, 2016 9:17am Oct 12, 2016 9:17am
Quoting 9jatrader
Trading without SL requires a great deal of discipline. What I do is that I place a rectangular mark where SL should be. When it gets to the position where I place my rectangular mark I close manually. You can place a mark and close position when price gets there. Every trader has his/her style. If you copy any trading style that doesn't fit you, you can never be profitable. Am into swing trading. Trading without SL is something that sounds so stupid to some traders, and so I don't even discuss it with my close trading friends each time we discuss....
Actually, you got it right out of the box, sir. It depends formally on the system/strategy a trader uses. I hate when traders search up the Forums directory for profitable strategies. You don't need to over-complicate your chart or use SL as anybody else.
  • #2,724
  • Oct 13, 2016 5:42am Oct 13, 2016 5:42am
There are no doubt some traders that trade forex without stop loss. Stop loss is a simple tool that can be used in Forex trading business to trade better. It is very important part of trading because through this our investment will safe.
  • #2,725
  • Oct 13, 2016 6:14am Oct 13, 2016 6:14am
Stop or no stop is no difference
The real issue is black swans slippage.
The stop loss is useless in this case
Available Margin is the only thing that is important
  • #2,726
  • Oct 13, 2016 7:05am Oct 13, 2016 7:05am
when u trade without stop loss your account will always wash.so always use proper stop loss.
  • #2,727
  • Oct 13, 2016 8:41am Oct 13, 2016 8:41am
I see tp and sl as reporting for myself. If tp worked, its mean everything was done correctly. If sl worked, then also i did the right thing and save myrself from big losses. Trading without them - it is a free and intuitive type of trade. It also has the right to life.
Surrealist
  • #2,728
  • Oct 13, 2016 6:31pm Oct 13, 2016 6:31pm
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Dragon Rider
  • #2,729
  • Oct 13, 2016 6:35pm Oct 13, 2016 6:35pm
I posted this before

Check this out

http://www.forexfactory.com/showthread.php?t=237739 Dongsky --True master -- He is the benchmark of what i call true skill.
-------
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
------
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
  • #2,730
  • Oct 20, 2016 9:24am Oct 20, 2016 9:24am
Watch this and think again before you trade without a stoploss.
Inserted Video


REMEMBER JAN 15, 2015!!
Your loss can be more than 3,000 pips instantly.

This can happen!
Can you deny it?
Will you still trade without a stoploss?

Good luck!
  • #2,731
  • Oct 28, 2016 5:44pm Oct 28, 2016 5:44pm
Quoting Butterscotch
There are no doubt some traders that trade forex without stop loss. Stop loss is a simple tool that can be used in Forex trading business to trade better. It is very important part of trading because through this our investment will safe.
After i widened my SL to 500 and more (safety) pips i started to get better ?!?!?!?!?

So ?
How to opt out annoying user signatures ??
  • #2,732
  • Nov 18, 2016 12:06pm Nov 18, 2016 12:06pm
I think it is imperative to use stop lose, because stop-loss attempts to restrict an investor's loss on a particular position.
Setting a stop-loss is particularly useful for:

  1. removing emotions from your trading decisions
  2. keeping a constant watch on your positions, so you don't have to

Not using stop lose would mean you have a good strategy that can really work for you.

  • #2,733
  • Nov 24, 2016 3:47pm Nov 24, 2016 3:47pm
hello,
i make an experiment and opend an account where i trade live with very very little amounts without use a stop loss.
let's see how long it will survive! you can see it in my trade explorer.
idea behind: if it always take my stop, what happend if i don't use any (the same...?)
failure is not an option.
  • #2,734
  • Nov 24, 2016 3:58pm Nov 24, 2016 3:58pm
ps: i have no stop but certainly a take profit - it's always 100p
failure is not an option.
  • #2,735
  • Nov 25, 2016 7:23am Nov 25, 2016 7:23am
There is nothing more important than stop loss in Forex trading. I do not trade without setting a proper and reasonable stop loss for my trades. I would Never advise any trader to trade without using it. If you trade with a proper stop loss, one single trade would most probably ruin your Forex career.
  • #2,736
  • Nov 27, 2016 10:58am Nov 27, 2016 10:58am
I agree 100% with PeterFXlover. A stop loss is the most importnt thing in trading. Usuing a stop loss is all about risk. If you dont use a stoploss then your losses could be UNLIMITED. That is madness. If you trade without a stop loss you will eventually blow your account lose all your money and have to stop trading. It is much better to use a sensible stop loss, control your losses and focus on making money.
  • #2,737
  • Nov 29, 2016 5:26am Nov 29, 2016 5:26am
Stop loss orders can be a great mechanism for everyone to place controls around the anarchy that is the market.
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  • #2,738
  • Dec 8, 2016 12:28am Dec 8, 2016 12:28am
Trading without a stop loss unless you know what you're doing which isn't exactly easy for most of us is a sure way to finish first
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  • #2,739
  • Dec 18, 2016 2:30am Dec 18, 2016 2:30am
I tend to trade without a stop loss. generally I am monitoring my trades as they happen so i'm not worried about having a stop loss, if a trade goes against me I am working on cutting it as soon as possible. In situations where I am not monitoring my trades I want to start implementing a stop loss just in case to protect my funds. my problem with stop losses is that you can get stopped out & they trade can go your way so you end up losing money even though you were right & possibly having to re-enter due to having a stop loss
  • #2,740
  • Dec 31, 2016 8:39am Dec 31, 2016 8:39am
Forex is big market place where anything can be happened. So traders must use stop loss for every trade which will be helpful for your account. it will prevent your balance to become zero. so always use stop loss for every trade. most of the traders of this forex market loss money due to not using stop loss
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