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Do you use stoploss?

  • #581
  • Nov 19, 2022 1:26am Nov 19, 2022 1:26am
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
1. I use stop loss to limit my trade.
2. The goal of trading is to make profit, not to lose the account.
3. It depends on the market conditions at the time.
If you want to make a lot of money, go to where money is in abundance.
  • #582
  • Nov 22, 2022 11:12pm Nov 22, 2022 11:12pm
Yes, I do use stop loss and it serves as trade protection. Regardless of whether I am trading on the long or short sides, I set stop loss.
  • #583
  • Dec 2, 2022 4:45am Dec 2, 2022 4:45am
Quoting Eelse16
Yes, I do use stop loss and it serves as trade protection. Regardless of whether I am trading on the long or short sides, I set stop loss.
Yes buddy even I do the same, I feel stop loss is very necessary to protect us from any loss which we aren't prepared to take.
  • #584
  • Dec 2, 2022 8:05am Dec 2, 2022 8:05am
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
1. Ofcourse stop loss is a really good tool if you know what you are going
2. It usually covers what Im doing better than just keeping track of the trades
3. Depends on what Im trading
  • #585
  • Dec 3, 2022 1:57am Dec 3, 2022 1:57am
Quoting quinn09
{quote} Yes buddy even I do the same, I feel stop loss is very necessary to protect us from any loss which we aren't prepared to take.
Agree with you buddy! Completely.
  • #586
  • Dec 5, 2022 8:11am Dec 5, 2022 8:11am
Quoting Eelse16
Yes, I do use stop loss and it serves as trade protection. Regardless of whether I am trading on the long or short sides, I set stop loss.
Yes, that’s the process! Stop loss is such an important tool; whatever trading strategy you are using you need to use stop loss according to your own calculation!
  • #587
  • Dec 6, 2022 5:32am Dec 6, 2022 5:32am
Rightly said buddy!
  • #588
  • Dec 6, 2022 5:33am Dec 6, 2022 5:33am
Quoting GabFort
{quote} 1. Ofcourse stop loss is a really good tool if you know what you are going 2. It usually covers what Im doing better than just keeping track of the trades 3. Depends on what Im trading
Yes Stop loss automatically close a trading position within the trader's risk profile.
  • #589
  • Dec 8, 2022 5:48am Dec 8, 2022 5:48am
I recently attended an algo trading conference, and one of the speaker said hes been trading and managing up to a billion $, does not use a stop loss.

This really made me think of what he meant.

A stop loss might not need to be a line on the chart that stops you out at a certain level.




1. Do you use stoploss or not?

Trailing stops and time based closes


2. Why do you use stoploss and why you don't?

I use a trailing stop as the markets always bounce.


3. How many pips do you use your stoploss?

Start at 20 points
  • #590
  • Dec 8, 2022 11:06pm Dec 8, 2022 11:06pm
Yes, I do use stop loss for every trade.
  • #591
  • Dec 9, 2022 5:59am Dec 9, 2022 5:59am
Quoting Eelse16
Yes, I do use stop loss for every trade.

That’s really mandatory! In my trading I am also using stop loss; since I know the value of money management!
  • #592
  • Dec 9, 2022 9:59am Dec 9, 2022 9:59am
Quoting jonstewart
{quote} That’s really mandatory! In my trading I am also using stop loss; since I know the value of money management!
No, it's not mandatory, and people should stop repeating this 'mantra' over and over again. SL is a TOOL, which people can decide to use where applicable, if desired. If you know how to manage your trading, with reasonable sizes and understanding how/when to hedge (or manually close trades, as desired), then you do NOT need to use SL's.

In fact, I would say a huge percentage of losses of traders are solely down to the regular use of SL's for trades, where they are tight, or at least far too tight given the rather chaotic volatility of the market at times.

I know the value of money management...and TRADE management, which is why I'm not very concerned about having SL's in place, nor having my trades closed at random intervals, just due to a minor move of the price around an entry point.
  • #593
  • Dec 10, 2022 11:17am Dec 10, 2022 11:17am
Quoting Nefser
{quote} No, it's not mandatory, and people should stop repeating this 'mantra' over and over again. SL is a TOOL, which people can decide to use where applicable, if desired. If you know how to manage your trading, with reasonable sizes and understanding how/when to hedge (or manually close trades, as desired), then you do NOT need to use SL's. In fact, I would say a huge percentage of losses of traders are solely down to the regular use of SL's for trades, where they are tight, or at least far too tight given the rather chaotic volatility of the...
Yup, same for me. I use sometime tight SL just to see it being hit during a spike and then going my way. Also on a side note during rollover some brokers widen the spread. For example I trade on FTMO and I got hit several times with SL despite that I was in profit of at least 20 pip. I woke up next morning just to see my SL being hit and on chart I saw that candle price was not there so I just remove SL during rollover or put it like 100+ pips above my entry. I also use hedge if I have a basket of trades on same pair and I see it going away from my entries and slowly switch sides.
  • #594
  • Dec 13, 2022 10:51pm Dec 13, 2022 10:51pm
Quoting jonstewart
{quote} That’s really mandatory! In my trading I am also using stop loss; since I know the value of money management!
Hey buddy, Aside from using stop losses to reduce risk, what is your strategy in general?
  • #595
  • Dec 22, 2022 5:13am Dec 22, 2022 5:13am
If my balls get crushed i quit it.
My signature is: "Classified".
  • #596
  • Dec 22, 2022 10:36am Dec 22, 2022 10:36am
No. Hedging is always better.
  • #597
  • Dec 23, 2022 3:11am Dec 23, 2022 3:11am
Quoting zkchyo
No. Hedging is always better.
SL is better I think. Hedging is basically saying I want to take another opportunity for buying or selling. Immediately going against your first position could be a useful tool.
  • #598
  • Dec 23, 2022 10:08am Dec 23, 2022 10:08am
Quoting Eren10
{quote} SL is better I think. Hedging is basically saying I want to take another opportunity for buying or selling. Immediately going against your first position could be a useful tool.
What you're saying is not hedging. Hedging is about diviserfying your risk exposure to several currencies. Need triangular arbitrage to time the market and portfolio management to control bankroll risk.
  • #599
  • Dec 30, 2022 12:22pm Dec 30, 2022 12:22pm
Quoting zkchyo
{quote} What you're saying is not hedging. Hedging is about diviserfying your risk exposure to several currencies. Need triangular arbitrage to time the market and portfolio management to control bankroll risk.
In forex that is also called hedging. Furthermore I am curious about hedging with options. However, I don't know how that works and how much it would cost.
  • #600
  • Jan 4, 2023 8:51am Jan 4, 2023 8:51am
Quoting Nefser
{quote} No, it's not mandatory, and people should stop repeating this 'mantra' over and over again. SL is a TOOL, which people can decide to use where applicable, if desired. If you know how to manage your trading, with reasonable sizes and understanding how/when to hedge (or manually close trades, as desired), then you do NOT need to use SL's. In fact, I would say a huge percentage of losses of traders are solely down to the regular use of SL's for trades, where they are tight, or at least far too tight given the rather chaotic volatility of the...

Well, according to my own trading system; I am using stop loss trading tool? What’s wrong on that?
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