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Do you use stoploss?

  • #401
  • Apr 1, 2020 5:51am Apr 1, 2020 5:51am
you don't need stoploss, you need GUARANTEED stoploss. that's a big difference : if there is a flash crash; the SL will NOT be triggered and you will lose much more than anticipated
  • #402
  • Apr 1, 2020 9:59am Apr 1, 2020 9:59am
What is the difference, would you elaborate, please?
  • #403
  • Apr 1, 2020 10:04am Apr 1, 2020 10:04am
Quoting mlawson71
What is the difference, would you elaborate, please?
the level of a guaranteed stoploss will be used independently of the slippage during the closing of your trade

for example : during flash crash, there is high volatility, low liquidity. Basically if you're in a buy and the price drops, you cannot close your trade, because everybody wants to sell obviously

but if you got guaranteed stoploss, as some brokers propose, the trade close price will be the one of the stoploss you set earlier, no matter what happens.

of course you gotta pay a fee to have guaranteed stoplosses
  • #404
  • Apr 1, 2020 10:45am Apr 1, 2020 10:45am
Quoting ronald_fsm
Dear traders, I want to ask you questions about trading: 1. Do you use stoploss or not? 2. Why do you use stoploss and why you don't? 3. How many pips do you use your stoploss? thanks anyway
Answer....
1. YES! I DO.
2. I EXPECT TO LOSE.
3. 100 PIPS.
Thank you
Learn... Work Hard... Trade Alone
  • #405
  • Apr 1, 2020 11:44pm Apr 1, 2020 11:44pm
Quoting ionone
{quote} the level of a guaranteed stoploss will be used independently of the slippage during the closing of your trade for example : during flash crash, there is high volatility, low liquidity. Basically if you're in a buy and the price drops, you cannot close your trade, because everybody wants to sell obviously but if you got guaranteed stoploss, as some brokers propose, the trade close price will be the one of the stoploss you set earlier, no matter what happens. of course you gotta pay a fee to have guaranteed stoplosses
This is really interesting.
  • #406
  • Apr 2, 2020 3:42am Apr 2, 2020 3:42am
I guess a handful trader's careers were ended with Sl's just few pips bellow 1.2 euro vs swiis frenk
making money in JimB2468 trading room
  • #407
  • Apr 2, 2020 12:59pm Apr 2, 2020 12:59pm
Quoting ionone
{quote} the level of a guaranteed stoploss will be used independently of the slippage during the closing of your trade for example : during flash crash, there is high volatility, low liquidity. Basically if you're in a buy and the price drops, you cannot close your trade, because everybody wants to sell obviously but if you got guaranteed stoploss, as some brokers propose, the trade close price will be the one of the stoploss you set earlier, no matter what happens. of course you gotta pay a fee to have guaranteed stoplosses
So how would a trade ends if there is no liquidity in the market and which brokers do offers such guaranteed stop loss, can you elaborate these two little confusions. Thanks in advance.
  • #408
  • Apr 2, 2020 4:37pm Apr 2, 2020 4:37pm
My SL is in relation to the current volatility displayed in the markets. However with the way I trade, aiming for a higher reward:risk ratio (and subsequently lower win % ratio per trade), my SL is small.
  • #409
  • Apr 3, 2020 7:36am Apr 3, 2020 7:36am
Quoting jollypk
{quote} So how would a trade ends if there is no liquidity in the market and which brokers do offers such guaranteed stop loss, can you elaborate these two little confusions. Thanks in advance.
I there is no liquidity and you got an account with guaranteed stoploss, then the exit price will be exactly the SL you set at the beginning, no matter what happens
  • #410
  • Apr 3, 2020 9:25am Apr 3, 2020 9:25am
Quoting ionone
{quote} the level of a guaranteed stoploss will be used independently of the slippage during the closing of your trade for example : during flash crash, there is high volatility, low liquidity. Basically if you're in a buy and the price drops, you cannot close your trade, because everybody wants to sell obviously but if you got guaranteed stoploss, as some brokers propose, the trade close price will be the one of the stoploss you set earlier, no matter what happens. of course you gotta pay a fee to have guaranteed stoplosses
Thank you for the detailed explanation!
  • #411
  • Apr 9, 2020 6:22am Apr 9, 2020 6:22am
I also use stop losses, need to be strict! Cant let greed over power you!
  • #412
  • Apr 12, 2020 11:03am Apr 12, 2020 11:03am
Quoting Richardblak
I also use stop losses, need to be strict! Cant let greed over power you!
I agree. If a trader gets greedy they end up just losing money usually.
  • #413
  • Apr 13, 2020 11:29am Apr 13, 2020 11:29am
Yes, and always have a SL, you will never know what will happen, so always play safe..
  • #414
  • Apr 13, 2020 12:47pm Apr 13, 2020 12:47pm
Quoting Richardblak
I also use stop losses, need to be strict! Cant let greed over power you!
True that. Agree with you. Always make it a point to use stop loss.
  • #415
  • Apr 14, 2020 3:32pm Apr 14, 2020 3:32pm
Not using a stop loss means you can predict the market. That is a fallacy. No one can. That is why there will never be a holy grail .

Using a stop loss removes an emotional burden of guilt that would have occurred if one didn't use a stop loss and made a huge loss.

In every way, it pays both emotionally and financially to use a stop loss. I don't use one because people say it should be used. I use a stop loss because it is the wise thing to do.
  • #416
  • Apr 14, 2020 3:40pm Apr 14, 2020 3:40pm
Quoting Emekadavid
Not using a stop loss means you can predict the market. That is a fallacy. No one can. That is why there will never be a holy grail . Using a stop loss removes an emotional burden of guilt that would have occurred if one didn't use a stop loss and made a huge loss. In every way, it pays both emotionally and financially to use a stop loss. I don't use one because people say it should be used. I use a stop loss because it is the wise thing to do.
You think using a stoploss is the only way to manage your risk on a trade?
  • #417
  • Apr 14, 2020 3:56pm Apr 14, 2020 3:56pm
Quoting viptrading
{quote} You think using a stoploss is the only way to manage your risk on a trade?
There might be other ways but an SL takes away most of the fear of losing money every trader faces. We want to make a living through trading rather than have grandiose ideas fueled by greed.
  • #418
  • Apr 14, 2020 3:59pm Apr 14, 2020 3:59pm
Quoting Emekadavid
{quote} There might be other ways but an SL takes away most of the fear of losing money every trader faces. We want to make a living through trading rather than have grandiose ideas fueled by greed.
So your saying not using a sl makes you greedy? Hmm...I see.
  • #419
  • Apr 14, 2020 9:09pm Apr 14, 2020 9:09pm
I use a stop loss. I always set mine at fixed -45 pips, then move it to BE +3 once the trade goes against my favor and moves +50 pips.

I just find stops to be really important given that my trade automatically gets closed once it reaches a certain amount of predetermined risk.
  • #420
  • Apr 15, 2020 12:35pm Apr 15, 2020 12:35pm
Why did you decide on these parameters exactly?
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