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What if the electricity goes out? Imagine if my computer shuts down by itself for no reason. Imagine if my phone ches on fire? What if I get shot and am physically not able to close a position which is possibly going to bring me margin call. This the cause of stop, in case there is a guru software failure somewhere in the method of system that enables communiion for trade. .
I completely agree, an individual should always take the chance of a technical or Internet collapse into account when trading and also have a contingency plan should that occur.
1) How frequently are there power failures? Can't you simply log on elsewhere and sort positions out? Use your phone?Originally Posted by ;
2) If my telephone gets on fire and I have it in my pocket or coat, I've probably got bigger issues to deal with than a few open trades. I can log in on my pc the next time I'm at home (after departing AE).
3) Get taken? WOW! I barely think some open transactions that I can't deal with for a few days (maybe a week or so) is going to wreck me financially. (If I die from the shooter, yes, my wife has my account details along with a buddy knows a tiny bit about it and can close down things. In this case, other people have slightly bigger issues to deal with than several open transactions.)
4) in case there is a guru computer software failure somewhere in the system of a system which allows communiion for a trade.... Again - Wow, just wow. But in this case, go find someone to ghost write a movie/book for you, as your creativity is great, but your writing is quite. . .weak.
Btw, in case a person is not sure, the dreaded Margin Call doesn't equate to spontaneous combustion/death/eternal torture.
Really tired of hearing these excessively dramatic FUD statements people really like to pull out of their backsides.
How can you sleep through the night, knowing someone could break into you house? Or be sure you turned the oven off? Or if you have locked all the doors at the house when you go out? Or know if someone is going to run the next red light and smash into you the next time you are out in the car? Slip from the bathtub and be unconscious while you transactions spin out of control with a huge 400 pip move!?!? (btw, 400pips is not massive and should not be a problem for your transactions)
Or some of another chances of risk we cope with every. . .single. . .minute/day/week/month/year?
Seriously. Go get a part on your local amateur dramatic club, as most of you are actually quite good, if a bit over the top. :-/
Oh, and 3 situations:
- You have only got a 33% chance of margin call from the VERY rare instance the market goes AGAINST your rankings!
- Still another 33% is staying roughly equal.
- Otherwise, there is a 33% chance for nice profit for you! Money within the next time it is possible to log in, winner! :--RRB- lt;--Nobody appears to talk about Black Swan profits.
How do I even sleep through the night, knowing someone can break into my home? Or make sure I turned the oven off? Or whether I've locked all the doors in the home when you go out? Or know whether someone will run the upcoming red light and crush to me next time I am out in the car? Slip in the bathtub and be unconscious while my trades spin out of control with a huge 400 pip move!?!?
That is exactly my point! That is why you have to stop loss. Wait, would you have house/car insurance? That is kind of like having a stop loss in the event of break in, fire, automobile burst.
What when a Cajun Queen plays a voodoo curse on me and that I suffer an aneurysm? Or I need a crisis exorcism because of an unexpected demonic possession. What if I inadvertently hypnotize myself and get amnesia - forever.
If I did not have a stop loss I would reside in a state of constant dread or dread of the infant possibilities that could render myself incapable of shutting the position before the dreaded margin call - and all of my dre and fantasies shall be dashed. I might even lose my will to continue to exist in the living kingdom. .
Exactly. You take reasonable precautions. SL is not one of them. That's only a fast way to carry yourself from the market (from a nice trade), before it's had a opportunity to accomplish anything.
Your answers are funny, but not as funny as you think they are.
Lol, SL is simply a fast way to carry yourself out of this market (out of a trade you don't need to be in), before it has had a opportunity to take too much fiscal equity (and emotional equity).
I think your responses are way more amusing that mine. I like to believe you are just joking.
Some individuals trade without stops and ready to consistently raise their account, and a few peope just wind up blowing it out.
BUt something is for sure, you will get into situations in which you find youself in an equity drawdown, only hoping, praying, and wondering why the hell you got into this whole no stop loss wagon in the first loion.
Should you come from this effective, it is going to reinforce your belief at no stop loss, but you will probably begin devising egies to lessen the impact of feeling despairing i.e hedging, gridtrading, etc..
In case you don't come out successful, you will be cursing the no stop loss idea left and right. And believe anyone who does it is a newbie or doens't know risk management.
For me personally, I feel it can work if you do it 'right' . There are proofs out there people making decent yields from it.However I exchange with a stop since I am a daytrader that just trade one tool. That means I can't afford by getting stuck at a drawdown trade losing commerce opportunities. It's about commerce turnovers in my situation, and trading without cease loss reduces my general profitability.
In stock market you can dont utilize SL and TP since the market open from 0800 to 1400 (in Dubai)
but in Forex Market it is open from Sunday to Friday
you cant know what's going to happen in between
I believe only place trader can trade with no SL and TP
SL means that after this price you believe there's not any means the price will proceed in your own direction again ... so way stay in commerce ?
And TP same that the the price cant go any more or it is sufficient prift and you want to venture out
also if you feel that such as us we start 10 to 20 rankings on some time so how can you believe that will recall what exactly was your egy this place
the very best way in my opinion TP and SL
illuion yesterday I open positions @ 1800 in Dubai time and I place a TP and SL since I must go to the work 8 hours I must sleep when I come back to 8 hours so what could happen in forex in 16 house ?? The price can go 200pip on almost any way
I believe you get the point
Not true at all...
What about disperse traders? Running hedged positions?
There are lots of ways to trade without a stop loss.
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