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Trading without a stop loss!

  • #121
  • Jul 15, 2016 1:44am Jul 15, 2016 1:44am
Yeah...! I do like the stop-loss strategy, it is the best way to manage the risks of losing and also the best way to control our trading in any circumstances.
  • #122
  • Jul 25, 2016 1:46am Jul 25, 2016 1:46am
You don`t want to trade without placing stop loss. Sometimes it really hurts when price hits your SL and starts going in your favor but once you leave your position without one you gonna find a trade sooner or later which starts to go against you and wipes your account out.
  • #123
  • Jul 30, 2016 8:41pm Jul 30, 2016 8:41pm
Quoting GodfatherSam
Yeah...! I do like the stop-loss strategy, it is the best way to manage the risks of losing and also the best way to control our trading in any circumstances.
Well,
how about all those stop hedge orders? [stop order - opposite to opened order ]

Can it replace SL?
  • #124
  • Jul 30, 2016 11:55pm Jul 30, 2016 11:55pm
sure, brokers that allow hedging love it when you open a sell order on a currency pair you're currently in a buy position ( or vise versa).
In this wonderful wisdom you're just done the exact same thing as closing out your initial position - except you've also paid your broker another commission/spread for having a defunct position which is sucking a swap rate out of your balance daily.
  • #125
  • Jul 31, 2016 2:46pm Jul 31, 2016 2:46pm
I think one of the most important things to learn is not to move the stop-loss - If you have a strategy and have placed the stop-loss for a reason dont be tempted to move it just because you think the market will go back in your favour
  • #126
  • Aug 1, 2016 2:32am Aug 1, 2016 2:32am
we should regulate our emotions so that the trading was also run with the maximum, with a good positioning in its market and analyze the market well then we should seek a broader insight into forex trading
  • #127
  • Apr 19, 2017 12:18pm Apr 19, 2017 12:18pm
in this volatile trading place devoid of stop loss you trading condition can be as like a ship in an ocean without a rudder. So it’s an inevitable part of trading. We have to set stop loss according to previous support and resistance level. However, any form of strategy has different rules in point out stop loss level. Even some traders choose to use manual cut loss. and does not use stop loss tool. Since they are implement scalping technique and always monitoring the trade.
  • #128
  • Apr 19, 2017 5:23pm Apr 19, 2017 5:23pm
Quoting MarkFxAnde
in this volatile trading place devoid of stop loss you trading condition can be as like a ship in an ocean without a rudder. So its an inevitable part of trading. We have to set stop loss according to previous support and resistance level. However, any form of strategy has different rules in point out stop loss level. Even some traders choose to use manual cut loss. and does not use stop loss tool. Since they are implement scalping technique and always monitoring the trade.
Personally I think using a stop loss is more like trying to sail with the anchor down. Largely I've stopped reading this thread as it seems dominated by short term thinking. If you scalp, use a stop loss or watch the position. If you trade longer term then would you prefer to close your position after a favourable movement or unfavourable? Stop loss is not the only risk management tool and IMO not the best one.
Hope for the best, prepare for the worst.
  • #129
  • Apr 19, 2017 10:07pm Apr 19, 2017 10:07pm
Trading without stop loss it will be dangerous in the price reversal that will happen, especially in beginner trader it is very that should be noticed in running the trade is always the installation of stop loss with the right for the risk can be in the limit
  • #130
  • Apr 20, 2017 5:31am Apr 20, 2017 5:31am
i never used stop loss, maybe is bcs i allways bankrupt my accounts
  • #131
  • Apr 20, 2017 6:44am Apr 20, 2017 6:44am
Quoting ervi
i never used stop loss, maybe is bcs i allways bankrupt my accounts
If one doesn't use Stop Loss properly they could end up draining their accounts anyway, just over a longer period of time.
  • #132
  • Apr 21, 2017 3:18am Apr 21, 2017 3:18am
I don't know how to trade without stop loss but I have seen that there are many traders who are actually trading without SL and earning money too. but it is risky so will not suggest anyone to trade without SL.
  • #133
  • Apr 21, 2017 9:56am Apr 21, 2017 9:56am
When I was a novice trader then I didn’t use stop loss trading tool! As a result, I lost my 1st trading capital in a week! Frankly, then I hadn’t any plan without making huge money making! Whatever, now I know the reality of Forex and I always use stop loss tool in my live trading, even I am more serious on SL than my TP position!
  • #134
  • Apr 21, 2017 11:33am Apr 21, 2017 11:33am
every asset needs a different sl because some have more volatility than others
  • #135
  • Apr 22, 2017 12:09am Apr 22, 2017 12:09am
Quoting ervi
i never used stop loss, maybe is bcs i allways bankrupt my accounts
I always bankrupt my account maybe because i never used stop loss. That's how you should say it.
  • #136
  • Apr 22, 2017 12:12am Apr 22, 2017 12:12am
it's ok not to use SL if you don't use leverage
  • #137
  • Apr 24, 2017 4:27pm Apr 24, 2017 4:27pm
Always use stops, but I find that if you use a trailing stop, you may as well just exit the trade. The key is your risk to reward, I use a risk to reward meter to judge my stops and targets. I typically set the stop at the the previous low/high and set my target to at least 3x that number giving me at least a 3-to-1 reward to risk. Combine this with good entry efficiency and you'll be a profitable trader over time.
Here is an example of how I set my targets: https://gyazo.com/31d2a9a257bdd8733dcca473a53c8aa4
  • #138
  • May 1, 2017 4:33am May 1, 2017 4:33am
Yes, I use both of them (stop loss and trailing stop)! Stop loss is my 1st choice, and when I get enough number of pips in a single trade then I use trailing stop trading tool! Actually, I don’t want to close my running trades too early, here I also use TP1, TP3, TP4 even more! But sometimes I need to close my trades manually because of aggressive market momentum!
  • #139
  • May 3, 2017 1:22pm May 3, 2017 1:22pm
Trading without a stop loss one can lost his whole balance in particularly when high movements. So, trade always in a secure environment by using stop loss.
  • #140
  • Jul 27, 2017 3:27pm Jul 27, 2017 3:27pm
Quoting JamesFaulkn
Trading without a stop loss one can lost his whole balance in particularly when high movements. So, trade always in a secure environment by using stop loss.
I lost many times my balance due to lacking of stop loss especially when I was a newbie. Actually I think so many new traders don’t like to use SL and when fall a great trouble then understood the importance of stop loss strategy which is really supportive to minimize risk of loss.
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