Using SL is almost the hard way to realize losses! There are plenty new technics in the 21. century to go the soft way with option to reduce the lose overall or catch BE - no such option if you trade with hard sl!
Trading with SL is 'old school' and eaten the whole profit in the long run, there is a academic financial study from the bond university in australia which test sl (%1-10, ATR1-5, MA crossover) ALL SL variations burning the profits in the long run.
lol you know that scaling out was not invented in the 21.century, it existed long before.
Using no SL is almost the hard way to realize your hole acount is at stake!
What i can read out here are 2 things,
1. 'using SL is old school'
2. 'using SL is the harder way to trade'
->So the opposite must be true for your method: Being a softy and a hipster.
(Just joking ;)
for your second post i really cant belief that you trust academic studies. These people have no experience in practical trading and also mostly dont are aware of which statistical methods are suited for trading models.
You should make your own studies, backtests, tradingplan, moneymanagement.
One Person i think has good prinicples and ideas is for example Linda Bradford Raschke.
I read here Books and viewed the Videos on Youtube (BigMikes Channel).
So speaking we discuss here about here hot air :), since i dont know from which point of view you are talking.
To better understand your point i should know your
trading style,(Timeframe,Currency, SL,TP)
Expectancy measure in which time (3-12 months?) :AVG Loss+Win(pips),AVG loss/win rate.
So to make things short my point of view is
my style is daytrading leverage used~1:10 ,SL~22pips on EurUSD, TP goal 60-200pips (Reward 3x or greater than Risk)
strategy is trendsfollowing, timeframe M30, the stats you can see. Currently i am working offline finishing my improvements.
I make my own stats and backtests. I educate my self every day around the clock with statistical turorials, forex related topics and programming mql.
i just replied here because in the early internet forex boom (2006-2012), Brokers where shady and stophunter with their
Marketmaker models. But today there are plenty of Brokers which offer STP and ECN accounts.
So the practical need to use no SL or hidden SL with ea has gone. Some newcomers still
dont get this information since they might not do their research extensivly enough.
to get back to the topic. you can see that my account has grown to 15% in 7 days,
there are 22 trading days a months so speaking ~45% in a perfect month would be possible but
taking loosing trades into account 30% is more realistic.
I stopped that trading like you can see on the history because i experienced some psychological difficulties to trade that way.
So i am working on improving that.
with other trading styles it is possible to achieve aroung 100% a month. But this is not so easy you might understand :).
Finding the psychological balance is important so not every style and Moneymanagement is suited for everybody.