Hi guys,
I have discovered that pro fx traders who do not use stop losses and this had led considerably controvesy. Anyone who disapprove or approve please comment
Hi guys,
I have discovered that pro fx traders who do not use stop losses and this had led considerably controvesy. Anyone who disapprove or approve please comment
The Title of the thread which makes me grin. In my view no Cease losses mean you are 100% certain where the price will proceed. Forex isn't a bank at which you can set money and arrive in annually to take out them with the profit. Forex is the place to invest risk capital and there is always possibility that something will happen and effect your trade. ( Like scenario in Japan right now). Doesn't matter what sort of prevent losses, but they should be.
I, for one, would rather hand my money to this ass on the roadside ... .Originally Posted by ;
... as strictly an issue of principle.
You presume that since we use no fixed stoploss we are doomed to ride the death trade to our passing. Not true, if you don't use insanely big lot dimensions as the brokers counsel you to.Originally Posted by ;
There are many ways to reasonably close down a trade in loss.
Get rid of your preconceptions and discover how those who do not use fixed stoploss really trade and you'll obtain profit from seeing threads like these.
As a seasoned trader, I do put a stop loss. But the amount is so far from entrance it won't affect my mental stop loss for the current position I am in.
The stop loss That's placed on my trade would be to stop an unforeseen disaster from affecting my situation and wiping my account blank
Just draw horizontal line somewhere in middle of a previous monthly candle and go down to smaller charts. You will realize the fact, how many times your profit was hit![]()
Point in fact, I would think that all brokers would love our (1) producing the maximum number of transactions potential and (2) to continue doing that as long as possible with the money that we can manage, irrespective of how we do that.
Not sure how they're going to make their spread fees/stay in company if they continue boosting I just take two (2) 1 x ray equity positions in a specific pair each month. Seems to me they'd be better off promoting scalping or day trading within this current environment (because these types of trading will involve increased frequency trading), but I am not seeing too much of that being achieved eduionally on their web sites, my guess is out of fear of taking on legal liability as a result of riskiness of these trading methods.
Those Oanda stats are telling me boosting swing/position trading is simply not the best way to go ... .
There's not any correct way to exchange or to handle ceases or lack of them.
Unless you're highly experienced, it is better to define your own risk B4 you enter into a trade. Best to do this in a hard manner (auto stop) rather than a gentle way (mental stop).
I place an auto stop 5/6 pips away from my actual mental one, just in case the broker can play games.
Also on the occasion that the market is able to move instantly 100 pips, you don't wish to me personally caught on the wrong side.
It depends alot on your kind of trading too. I exchange intraday using a stop of between 8 and 13 pips, so a move 50 /100 pips against, I can't have. Then it may B a story, even though if you're trading a time frame.
Guru FX traders enjoy who?? Or inOriginally Posted by ;
If you're talking about overall Guru FX traders, It depends upon a number of different aspects. . .Those people may be well capitalized, and they may be needing profit goals, such as 500 pips per transaction, which means you will never observe a stop using them less than 150-200 pips or so. . .That's my opinion of course, but when I am managing a $5 M account, I think that almost all of my trades will be position trades to the long term since intraday trading with such amounts may impact the market and hurt me. . .Remember that provided that the trading lots increase, the entrance and exits are violent. .
Thanks,
Nader
pro fx traders (the kind that operate at banks, which it seems like you are speaking about) DO utilize stoplosses. They dont put a stoploss order, but they've a mental stop. Why they dont actually set the order ahead of time is because they sit in front of their monitor whilst trading, plus they have disapline when they want to to get out. They have a fantastic feel for order flow because they are on a trading desk.Originally Posted by ;