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Trading without stop-losses

  • #621
  • Nov 25, 2016 7:02am Nov 25, 2016 7:02am
Always use stop losses!! You'll never know when it will strike you and caught you off guard. We all know how that ends up..
  • #622
  • Nov 30, 2016 5:35am Nov 30, 2016 5:35am
Quoting thepiphunter
Always use stop losses!! You'll never know when it will strike you and caught you off guard. We all know how that ends up..
I agree completely. Always be prepared for the worst while hoping for the best.
  • #623
  • Nov 30, 2016 4:49pm Nov 30, 2016 4:49pm
i make an experiment to trade without SL.
now it's week 3.
deposit was 200 Eur
now it's 337 eur
drawdown is 57 eur
i trade 0,50 microlots and TP is 88 pips, always with trend!

worst case is to lose 200 euro, so let's see how long it goes.

it's live and you can watch it in my trade explorer
failure is not an option.
  • #624
  • Nov 30, 2016 9:28pm Nov 30, 2016 9:28pm
Quoting joldas
Hello, every one! i have a question that anyone trade without stop-losses, and successed? Trading without stop-loss can be done? has any opinion, plz comment here? thanks.
Leveraged trading without stop loss doesn't seem a good idea.

I wouldn't recommend it. Take care.
  • #625
  • Nov 30, 2016 11:19pm Nov 30, 2016 11:19pm
Quoting BlueKnight
{quote} Leveraged trading without stop loss doesn't seem a good idea. I wouldn't recommend it. Take care.
I see so many people saying that trading without a stop loss is dangerous .
Whats worse is someone using high leverage. You are more likely to be stopped out or margined out than someone using leverage conservatively without a stoploss.
  • #626
  • Dec 2, 2016 6:57am Dec 2, 2016 6:57am
relevant info: the volatility of Forex will kill our profits as well
especially we as retail trader depends on the leverage.
Let Market Tell You
  • #627
  • Dec 4, 2016 3:01pm Dec 4, 2016 3:01pm
Every time I've traded on a demo account without stop/loss I've blown the account. Trading with stop/loss, yes you'll lose something, but not everything, you've got a (reduced) position that you can recover from.

Let's say you like prostitutes (I personally wouldn't). Some are good lays, some not so good. Would you have sex with any of them without a condom? No. Well, there you go. Use protection.
  • #628
  • Dec 4, 2016 3:23pm Dec 4, 2016 3:23pm
Quoting FiveK
Every time I've traded on a demo account without stop/loss I've blown the account.
So, you never figured out how to lower your trade size to a manageable level? Did you not do anything to resolve the issue when the trade(s) were going against you? Did you just let the losses build till it was blown?

Heres a silly analogy like yours - "Every time I drive down the road in a heavy rainstorm,the car hydroplanes and I crash. So dont drive a car in the rain. EVER!"

Manage your speed. Watch whats happening and react to it. Learn to be safe in a variety of conditions
  • #629
  • Dec 4, 2016 4:22pm Dec 4, 2016 4:22pm
Quoting Nefser
{quote} So, you never figured out how to lower your trade size to a manageable level? Did you not do anything to resolve the issue when the trade(s) were going against you? Did you just let the losses build till it was blown? Heres a silly analogy like yours - "Every time I drive down the road in a heavy rainstorm,the car hydroplanes and I crash. So dont drive a car in the rain. EVER!" Manage your speed. Watch whats happening and react to it. Learn to be safe in a variety of conditions
I was in the "let's see what happens" part of my trading, as a way of learning what not to do. I WAS using a platform (Plus500) which by default gave way too high trade sizes and too narrow S/L and T/P. I figure it's a way of milking suckers who put down real money.
  • #630
  • Dec 4, 2016 10:20pm Dec 4, 2016 10:20pm
Forex is risky business and trading without stop loss can make it more risky. Not using proper Stop Loss can make your account more risky and you can wash out it any time.
  • #631
  • Dec 5, 2016 1:03am Dec 5, 2016 1:03am
Quoting Butterscotch
Forex is risky business and trading without stop loss can make it more risky. Not using proper Stop Loss can make your account more risky and you can wash out it any time.
with it we need to maximize skll also trading skills to be like where can we minimize the risks well, and in the placement of the sl and tp can be done in a demo account beforehand in order to more accurately and to further honed the skill and experience.
  • #632
  • Dec 7, 2016 5:04am Dec 7, 2016 5:04am
Quoting Butterscotch
Forex is risky business and trading without stop loss can make it more risky. Not using proper Stop Loss can make your account more risky and you can wash out it any time.
On the other hand a poorly placed stop loss can make it even riskier. It can be a bit of a double-edged knife.
  • #633
  • Dec 8, 2016 2:23am Dec 8, 2016 2:23am
Quoting rudimente
i make an experiment to trade without SL. now it's week 3. deposit was 200 Eur now it's 337 eur drawdown is 57 eur i trade 0,50 microlots and TP is 88 pips, always with trend! worst case is to lose 200 euro, so let's see how long it goes. it's live and you can watch it in my trade explorer
Good job Rudimente. Please keep us updated on your progress.

I have had almost every trader insisting on trading with stop loss since I started this string. But now you are showing a live trade without stop loss running profitably for the past 3 weeks. I want people to understand what you mean by "always with direction".

My experience is that if m5, h1, h4, D1, W1, and M1 are aligned to point in the same direction using SMA-3, you have nothing to worry about. At the beginning of a long position you need to keep selling off losing trades and buying in the same direction until you register a positive PnL before you let go and watch. Once you register up to two digit PnL you make no changes for short term market reversals if the SMA-3 is still point upward. The opposite goes for a short position.
Mecrandie
  • #634
  • Dec 8, 2016 6:18am Dec 8, 2016 6:18am
I cannot trade without a Stop loss,
sometimes market moves more than we think.
so we have to take care.
  • #635
  • Dec 9, 2016 6:33am Dec 9, 2016 6:33am
Quoting fxdms
I cannot trade without a Stop loss, sometimes market moves more than we think. so we have to take care.
To be honest I am less concerned about large movements - that is, apart from the volatility surrounding news events - than I am about losing my internet connection. It can happen once a year and still cause problems.
  • #636
  • Dec 9, 2016 9:13am Dec 9, 2016 9:13am
Quoting FiveK
Let's say you like prostitutes (I personally wouldn't). Some are good lays, some not so good. Would you have sex with any of them without a condom? No. Well, there you go. Use protection.
hahaha perfect correlation Thumbs up!
  • #637
  • Dec 15, 2016 5:11pm Dec 15, 2016 5:11pm
the market always 100% of the time retraces. It is the only truth I found true about Forex and you do not need unlimited wealth to trade it.
  • #638
  • Edited Dec 16, 2016 8:54am Dec 15, 2016 7:00pm | Edited Dec 16, 2016 8:54am
Quoting mlawson71
{quote} To be honest I am less concerned about large movements - that is, apart from the volatility surrounding news events - than I am about losing my internet connection. It can happen once a year and still cause problems.
That and a very connected (pun intended) problem (I'll explain in a second) is the reason I use a SL. Saying that, I mean a real (emergency) SL and not some manually triggered I-cant-take-it-anymore SL.

The connected problem:
It's not only your Internet, the brokers server could be cut off as well. By having a SL placed at some price you've ultimately sourced that problem out to the broker. It's outside of your control and became his problem - that's my preferred way of solving problems btw

BTW: If you're serious about trading get backup internet and an uninterruptible power supply. I've got one of those http://www.3grouterstore.co.uk/3G/Te...4G-Router.html and a big APC UPS. The UPS supplies not only my computer but also that teltonika modem and my ISPs DSL modem. UK based traders might also want to consider this option http://aa.net.uk/broadband-office1.html (two copper lines with failover and a spare modem).
  • #639
  • Dec 18, 2016 9:36pm Dec 18, 2016 9:36pm
was just hanging out with one of my buddies over the weekend. and again we talked about the importance of setting stop on each trade we take. It is also important to understand setting stop not only protect you from the sudden changes occur in the market, but also keep you in check from titling.
If u luv happiness, start w/ discomfort, make friends w/ pain and failure.
100 Hits 0 Miss All Time Return: 35.8%
  • #640
  • Dec 18, 2016 10:00pm Dec 18, 2016 10:00pm
Yes, stop loss is necessary , especially while trading equity and commodity markets. In forex most of the time stop-loss get triggered and I use stop loss if I take trade against the trend . However there is no robust rule for that and stoploss never guaranteed by broker and can't protect ourselves from market debacle like Usd/chf (recent) crash. As when there is 3000+ pips drop and price open and close in Gap we can't guarantee our limited loss.

But still stoploss is important.
Never Gamble Forex
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