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Trading without stop loss

Chan (8christianpaul8)
Jan 11 2021 at 10:20
112 posts
Gleywilleyy posted:
I think under no circumstances should stop loss not be used, it really is not worth the risk. I have suffered massively in the past when I was too casual and paid the price in terms of losing all my profits. I have made a fresh start with IB and fxview and vowed to never not use sl.
The problem here is it's based from your own experience and it may not be the same with others. Though I understand the importance of SL. As I've mentioned before it would depend on the strategy you use and how focused you are when trading. I do have an account with a stop by overall % of drawdown on all trades but not on a per trade basis. But I have another account where I use SL on all trades. It really based from your backtest, research, and forward testing. It's also a personal preference I guess.
Trading is a marathon, not a sprint.
Elena Triston (ele020)
Jan 11 2021 at 10:56
219 posts
Trading without stop loss is okay if you are going to stick to your trading screen through out your positions are open. If you are planning to leave your trades unattended, use of stop loss is must.
The more your practice, the more you learn.
Tyronemings654
Jan 12 2021 at 03:55
15 posts
Gleywilleyy posted:
I think under no circumstances should stop loss not be used, it really is not worth the risk. I have suffered massively in the past when I was too casual and paid the price in terms of losing all my profits. I have made a fresh start with IB and fxview and vowed to never not use sl.
If someone is constantly monitoring their trades then it’s okay to not make use of sl. As it is there is always the problem of slippage, on top of it if sl is used (which certainly takes its own time to get triggered), trading profitably is just not possible.
Russel Gutierrez (russellgutierrez)
Jan 12 2021 at 06:25
56 posts
Guys just check if your broker allows use of trailing stops, they are much better as they move with change in prices. I know for sure that IG, Fxview and XTB give this option.
Chan (8christianpaul8)
Jan 12 2021 at 08:26
112 posts
russellgutierrez posted:
Guys just check if your broker allows use of trailing stops, they are much better as they move with change in prices. I know for sure that IG, Fxview and XTB give this option.
Is it not an option will all brokers that offers Metatrader? I've never seen a broker that offers MT and no TSL.
Trading is a marathon, not a sprint.
joastdaffy
Feb 04 2021 at 09:56
24 posts
I think stop loss is a very effective strategy for managing risk. Traders should make proper use of it to avoid losses.
debramaldonado
Feb 09 2021 at 09:58
21 posts
Hedging can be a very good risk management strategy that some people like to use for their trades. Making effective use of the stop loss can also be helpful in minimising risk.
Fernando9
Feb 09 2021 at 10:57
22 posts
Whether we use SL while trading or not, I think that totally depends on a trader's strategy and plan. It is not necessary to have a stop loss placed every time you are trading, but yes it serves as an extra cushion against major losses for sure.
freckcope
Feb 26 2021 at 03:56
16 posts
Yes, it does work for some traders but for others, making use of a stop loss can be a life saviour.
SofieAndreasen
Feb 26 2021 at 05:00
759 posts
freckcope posted:
Yes, it does work for some traders but for others, making use of a stop loss can be a life saviour.
True. Stop loss save us from uncertain situation in trading.
Michihito
Feb 28 2021 at 14:02
298 posts
Placing stop loss is an art. It's not that much easy as some people think. If your broker widen the spreads every now and then, change the broker. Other than that broker has nothing to do with your stop loss. Many times I have survived just by one or two pips. Find good broker. Stop blaming. Learn then trade.
RobertFerrari
Oct 23 2021 at 19:30
391 posts
Michihito posted:
Placing stop loss is an art. It's not that much easy as some people think. If your broker widen the spreads every now and then, change the broker. Other than that broker has nothing to do with your stop loss. Many times I have survived just by one or two pips. Find good broker. Stop blaming. Learn then trade.
I agree with you. Stop loss is very useful if you have enough knowledge about it.
skihav
Oct 24 2021 at 09:07
801 posts
This can sometimes be quite risky, and the result may not satisfy the trader himself.
Suradi (FXOday)
Oct 24 2021 at 23:29
334 posts
Stoploss is one feature to manage the risk in trading, a trader can measure the limit risk in every plan trading according to their preference, how to place stop loss also depending with each trader, there are a trader can use 100 pips stop loss and there are trader that uses tight stop loss, some trader use risk-reward ratio to manage profit and loss adjusted to their trading strategy.
Chelsea Blacks (blackChelsea)
Oct 25 2021 at 11:03
125 posts
Adjust SL as per your risk appetite. I always keep my SL to 5 ticks. This can vary from trader to trader.
The_unforgiven
Oct 25 2021 at 12:28
9 posts
5 ticks. that is a tiny SL. Surely you get stopped out all the time. The spread is around 1 pip
LukeRachel
Oct 25 2021 at 23:20
477 posts
blackChelsea posted:
Adjust SL as per your risk appetite. I always keep my SL to 5 ticks. This can vary from trader to trader.
It is very important to have discipline in everything. Through discipline the trader can achieve success.
Amytradesforex
Oct 26 2021 at 11:31
23 posts
LukeRachel posted:
blackChelsea posted:
Adjust SL as per your risk appetite. I always keep my SL to 5 ticks. This can vary from trader to trader.
It is very important to have discipline in everything. Through discipline the trader can achieve success.
Agreed! Forex market changes all the time like most other markets and sometimes with no solid fundamentals or technicals justifying a price movement. It can be 1 year from now, 2 years from now. But if you are not disciplined and take it easy even for a week, that can be the end of your forex capital.
skihav
Oct 26 2021 at 13:05
801 posts
This is quite risky, and it is better to do this when the trader is already completely confident in himself and his strengths.
Willowerno
Oct 27 2021 at 04:58
38 posts
Trading without a stop loss is the same as trading without a plan. Stop losses prevent traders from blowing up their accounts.

You should always trade with a plan: how much I can bear to lose, and how much I wish to lose. So, in future, you have money to trade and grow. There are some traders who trade without SL, but they have more knowledge too.
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