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No Stop Losses!!!

  • #41
  • Sep 13, 2006 3:50am Sep 13, 2006 3:50am
Quote
pros dont use stops

Umm I know several ... and yes they do ... all of them, whether physical or mental ...
You can quit and they won't care, but you will always know.
  • #42
  • Sep 14, 2006 3:01am Sep 14, 2006 3:01am
i think, it depends on the approach...if you have a low win% in combination with a high risk reward ratio, stops are vital to keep up an high avg RR ratio...if you have a high win% combined with a risk reward of 2:1 or 3:1, stops are not so vital
  • #43
  • Sep 14, 2006 4:49am Sep 14, 2006 4:49am
I don't use a hard stop based on risk reward, but I do have what I would consider a catostrophic stop in case something completely unexpected happens, but it has rarely been hit.
  • #44
  • Edited 8:29pm May 29, 2008 7:47pm | Edited 8:29pm
I hv been consistently making 50% my capital for 6years without stop losses! How do I do that.? I trade at key levels and sometimes Against the trend. Just started a new Journal here at FF for my No SL trading...

http://www.forexfactory.com/showthread.php?t=89101


kindest regards

  • #45
  • May 29, 2008 8:31pm May 29, 2008 8:31pm
I have my own stop loss, Margin Call .....
  • #46
  • May 29, 2008 8:34pm May 29, 2008 8:34pm
Quoting Schminner
I have my own stop loss, Margin Call .....

LOL Bravo!!!
  • #47
  • May 29, 2008 8:38pm May 29, 2008 8:38pm
Quoting Schminner
I have my own stop loss, Margin Call .....

Yeahh.. good stop loss bro...
There is no bad decisions, its only didn't work out.
  • #48
  • May 29, 2008 8:40pm May 29, 2008 8:40pm
Quoting Darkstar
Well, in all fairness I frequently lose 10-30% on a failed trade so that doesn't bother me. I technically have a catastrophic stop too, its called a margin call at 50% loss. What makes it work for me is that a winner nets 30-100% and the wins are far more common then the losses. It's not how most people trade, but I'm ok with that...

I guess it really depends on why your taking the trades you are. If your taking them because of a chart formation or an indicator then by all means you should use a stop incase the formation doesn't pay off. My reasons for taking trades have very little to do with the chart so a stoploss is an arbitrary guess as to how things will play out.

A good part of why this works is because I don't take any random trade. If I don't know exactly what’s going on I hold off until I do. Risking 50% of my account keeps me from gambling on possible winners.

The point I was trying to make was that if your not supremely confident in the trade, you probably shouldn't be taking it. Trading without a stoploss is a testament to how much you really believe in your analysis. If you don't believe in it enough or can't accurately determine what your risking, then maybe you should consider that your analysis needs to be improved. A stoploss in the manner that it is deployed by most is simply a crutch for bad analysis.

PS- I say you, but I don't really me you, just anyone in particular that happens to read this...
Darkstar has made an exellent post. Informed traders tend to be right more than they are wrong. And stop loss triggered simply means the analysis is flawed, it does not neccesarily needs improvement if seen as a technical setup, just another failed trade.
  • #49
  • May 29, 2008 9:34pm May 29, 2008 9:34pm
Quoting jest1081
Darkstar has made an exellent post. Informed traders tend to be right more than they are wrong. And stop loss triggered simply means the analysis is flawed, it does not neccesarily needs improvement if seen as a technical setup, just another failed trade.

yes Darkstar is right... I trade without stop loss because of the rate of confidence i hv on my propreitary strategy... I read 5currencies like a MAP.... and it's been paying off for over 6years...
  • #50
  • Last Post: May 29, 2008 9:40pm May 29, 2008 9:40pm
Quoting whitemask
yes Darkstar is right... I trade without stop loss because of the rate of confidence i hv on my propreitary strategy... I read 5currencies like a MAP.... and it's been paying off for over 6years...
I've never believed in Stop-Loss, only mental ones .....
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