Trading without a stop loss!

S/L or no S/L I think it's a double edged sword. It can go either way. It's a matter of choosing the one better for you.

Well said.

My answer won't be very popular to some but my account is, well, mine so how I trade is my business.

My experience with stop losses has been the majority of my losses. This may sound nuts to some because you will say "but the reason the stop was hit was because your trade was going the wrong way" and you would be correct for a candle or two.

I have found that the majority of time my entry and direction is correct but not every time. In those instances where the direction was incorrect the amount I lost was FAR less than all the times my stop had been hit.

And this is where the seasoned pros will say I'm gambling...yes and no. Since I primarily use the 4 hour chart for overall direction, that adds stability to the trade. Then I use Fibs and pivot points on a 1 hour chart to give me the specific entry and exit of my choice.

The key is to use the Stochastics for timing. Look at your Stochastics on the 4 hour chart and then the 1 hour chart.

The times I have lost the most at one time without a stop (I think it was 380 pips) was when stinkin Bernanke was lying about saving the economy...I closed the trade and started telling myself the seasoned pros were right. My next 5 or 6 trades all had stops on them and got hit...that week was horrible for my trading attitude! So I got very angry, took two days off and went for a couple of long walks and re-focused. And then I honed my strategy.

Demo the heck out of your specific technique with and without a stop for 50 to 100 trades and see what method works for you.

It happend to me...


I had an account dedicated to find if something I have read about not using SL,was true.
It prooved that I traded more relaxed, more precise, right and profitable, only because I had profits as never before....I used SL only to garantee a positive position.

Best regards

I share your same thoughts, 9 times out of 10 stops are being hitten because of "noise" (for example on an uptrend, price may go to supports to collect buy orders, and this doesn't mean that a buy trade is "wrong"), so many times losses coming from being "stopped out" are just stupid.
Then true sometime a stoploss can save you from a "huge loss", but doing the math, many little stupid losses summed up, create a huge amount of loss, far bigger than the hypotethical "huge loss".

Yes. I place stop loss in every order.
Also I change my stop loss sometime if I get the confirmation that my take profit will surely hit.

It's how it should be

Where are those fake 'real' traders who trade without stoplosses.I dare you to trade without stoploss again.With EuroChf falling 3000+ pips r.i.p to your forex accounts.i wish swissy rally got you naked with no SL . lol .it would be a lesson well learnt

I would NEVER trade without a stoploss.. My trading amounts is all based off of MoneyManagment(mm).. So if i dont know what my Sl level is i cant figure out total buy size against % im willing to lose... I think a lot of guys come here thinking trading is about making money(looking forward)-- when i find its really about looking backwards and managing your win and loss against account %'s

The stop loss is very important during trading, you should always know your bottom line to stop worse, your platform will help you!

Yes, I pretty much keep it at 10 pips. But I watch it and pick my time carefully, obviously.

Open 2 accounts and trade sl&without sl..atleast if we're lucky can survive about a year..must know your money management..for me eurusd 500pip max enough to take negative floating before going back to tp point

I trade without stop loss. I have mental stop loss and will stick to it when price goes through that level and does not seem to recover. That has been working very well for me since I'm a swing trader, and sometime the bet I make don't go my way until all the fundamental and technical play out as I expected. Since July 2014, already return over 500% so I'd say my method is working very well! Don't change what's not broken!

I think the most important aspect of trading is finding out your risk tolerance, coming up with solid trading plan, and really get familiar with the market movement and sentiment! Until then, you're not going to make it in this trading business.

Just want to show a taste of my trading strategy. Attached is my account summary just 2 weeks ago! Had I use a stop loss, it would have never happened! Close the trade that week with profit of close to 20k!

I try to trade without a stop loss a lot of time. But unfortunately is not a good idea.
Because lets say you didn´t place a stop loss and you a re losing like 20% of your balance but you could of place a 4% stop loss and lost only small amount.
I try to place my stop loss on previous low or high depending on selling or buying.
Try to place stop loss. Try 3 - 5 % stop loss. It works for me for now.

I always trade with a stop loss and it's usually placed at a level whereby it tells me i'm wrong.

It doesn't make sense to place a stop loss just for the sake of having it there.

My stops are always placed at a level whereby my entry signal is invalidated if price gets to it.

This video would explain it better

Cheers!



fartist

If you do pipsing, it is impossible to put a stop loss due to technical reasons.

trading without using the SEL very dangerous because forex risk is very high and therefore, we should always use SL when trading so that we will be able to minimize the risk of forex properly. Forex risk no one knows that we need to have good risk management

Sure one can trade without a stoploss, but should they? I mean, everything happens, from power outages to computer malfunctions, it's best to have something to stop your trade in case you lose control of your platform for whatever reason.

You should always use a stop loss, your risk is the only thing you can control, without sl, you have NO control,
then you might as well flush your money down the toilet.

best stop placement is where you know you are wrong about the direction of the market.

the safest placement is above resistance if you are short, below support if you are long.
these are protected stops.

the market will have extra hard time to stop you out,
because it would first have to brake through a support or resistance level to get to you.

it doesn't work all the time though, but that is trading.