Trading without a stoploss
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Thread: Trading without a stoploss

  1. #1
    I will begin posting my trades here. Though it might go against the conventional wisdom, I do not use any stoplosses as I do believe this trading style saves me a lot of headaches. That doesn't imply that I donĀ“ t get from a trade once I feel that I boarded the wrong train but I dont need to get off the train just because someone else doesnt wish to get me on board and throws a stink bomb next to my seat. Here is the very first trade. Remarks, questions and market conversations are extremely welcome.

    I BOUGHT USD/JPY at 107.15 (5:53 am GMT)

    P.S.
    All transactions will be submitted immediately after I put them
    Targets for all transactions will be ascertained as the transaction progresses
    Buy prices are ask prices, market prices are bid prices
    Time is consistently GMT
    Quotes are out of Interbank FX

  2. #2
    It can work if you do have some kind of mental stop loss. I know one man whose trading method involves just letting it run till it turns profit. The results are predictable.

  3. #3
    Hello Shadowninja

    Holding until it eventually turns is ok, if a person understands that he is not fooling himself into believing that the market does what he believes it should. It all ought to be in the context of the main trend and one must have the ability to acknowledge that he was wrong in case the trend turns.

  4. #4
    Yes, so you are relying on experience. The person in question is attempting to grab 50-100 ticks with a 800 tick stoploss, however. A scalp that turns into an investment.

  5. #5
    He should use the monthly chart to compute his stoploss and the hourly chart to compute his profit target. . .interesting egy .

  6. #6
    I concur with. Though im new in the market I have never use stop loss in my trading and the outcome is awesome. But there are instances in which I only have to shut the trade once I see the trend is not good enough. I dont only close the transaction. I have to wait until the reduction price fall to its minimum level.
    With this technique 78 trades I just have 10 losses.

  7. #7
    I agree with u. Although im new in the market I have never use stop loss in my own trading and the outcome is awesome. But there are instances where I only have to shut the trade when I see the tendency is not good enough. I dont close the transaction. I must wait until the loss price fall to its minimum level.
    With this method 78 transactions I just have 10 losses.

  8. #8
    Waleff,

    Nice win-loss ratio..congrats!!

  9. #9
    No stoploss should imply no leverage at all, that means 1lot every 100k on your account.
    Otherwise, not 95% strike rate would save your account in the long run if you don't have some type of hedging. One bad transaction can set-back months of profit.
    You are now long u/j in 107, what about you did the same back in September 2007 and longed at 115? Where could you have called this type of loss?

  10. #10
    Cesare,

    I obviously agree that leverage ought to be used with within reason. Whether that really is 1 lot for every 100k or more or even less ought to be decided be each trader as there are no general principles that apply to trading. . .the principles are unique for every trader.
    The way I interpret stoplosses personally is that they are more a reflection of a traders fear of loosing and consequently do more harm than good. But like I said this is just my view and if you prefer using stoplosses, there is nothing wrong with that.

    I have not traded UJ in September 2007, therefore I dont think it would make sense to comment on any hypothetical situations.

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