I would like to start a thread on Manual Trading - Without Stop Loss!
The reasons :
1) - To see what other people think
2) - To share ideas and strategies
3) - I have recently seen decent profits form NOT putting a Stop Loss and Just riding out the price wave.
OK I will Start....
Whilst trying out 2 scalping methods I hit a point in a trade of no return. I didn't put a stop loss and decided that as I was scalping near the top of a price high and the price continued upwards, that surely the price would return to make my trade even or profitable. Continuing to place a couple of Sell orders whilst the price continued to rise ( to my surprise) just made my situation worse. However......... As I suspected the price returned to a downward trend and I captured profit on my staggered trades until I zeroed my original trade. In short I made over $1000 on a $5000 account... BUT(s) I risked more than my account size suggests I should, the trades were open for nearly 2 weeks(a little hellish, as I normal open and close trades in the same day) BUT BUT BUT... I think there may be potential in a system that NEVER uses STOP LOSSES and Rides out the wave.
So to the discussion.... what do you LIVE, Manual, Traders Think? (also every trader) but you get my point.
Don't Sweat the small stuff