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Importance of Stop Loss

Nov 30 2017 at 15:33
951 Posts
Klem posted:
Hey. Be honest with yourself and stick to the strategy. If you know how to control yourself and stop trading on time, then you do not need a stop-loss. I'll tell you more, your stop-orders are your psychological levels, which usually come true. Just follow your strategy.
That means, you strategy allows you to trade without SL? Then how you handle your losing trades?

Dec 03 2017 at 07:50
12 Posts
Trade with no stop loss Is madness

Dec 03 2017 at 14:54
1487 Posts
I, personally, prefer to use stop loss but I generally recommend doing so to anyone who asks me, but there are people who trade without it and do just fine.

Dec 06 2017 at 15:06
26 Posts
There are two ways for me in automated trading :
1 - algorithms that deal with SL and let it hit.
2 - algorithms that use technical SL - far away from opening price - and let the SL almost NOT hit. Internal SL or methods will close almost earlier than technical SL.
Not every algorithm/strategy can deal with 1 AND/OR 2. The more you invest in quality of exit signal the more you can risk as in 2. To be safe with 2, you need to know brokers tickvalue, the risk you will take in sum and a good exit criterion.
I quit method 1 for myself. Hitting a fix SL is just lack of exit signal and hard exit by loosing orientation. I don't like this. Visibile tight SL are just to easy to grab for your broker with a single tick hitting gently yout tight SL. My development EA Cutter uses wide technical SL. And yes it will be hit in backtest, but money management and a good exit algorithm allows me to use this anyway (hopefully).

Dec 06 2017 at 15:46
920 Posts
NicoF1 posted:
Trade with no stop loss Is madness

Absolutely, there is no certainty! I am sure, pro traders don’t trade without SL since they focus on consistency rather than sudden huge profit.

Oct 29 2018 at 13:08
31 Posts
Hey Friends

We use stop-loss orders to prevent big losses on their open stock positions.

Nov 01 2018 at 11:17
16 Posts
Using stop loss is an art. It depends on how much leverage used and when you study chart religiously, it will tell you if using the SL is needed or not. If you follow the above words and attach it with the emotion, it's going to be deadly disaster.

Nov 02 2018 at 06:21
17 Posts
It is probable that your SL is too tight. The market range changes. Your edge could dissappear without any warning if you don't take into account the various market cycles when deciding that your edge is real. Most of times I don't set stop loss because I am expecting something that has been proven to me based on my tests I should expect. In short the plan of the trade is important. Your trades should have been won even before your entries.

Nov 02 2018 at 06:28
10 Posts
I always use stop loss and take profit in trading. Although it does not help me to avoid losses. Anyway, almost all my trades are closed at stop loss. I'm starting to think, should I use them in the trade? Maybe tht's my problem in getting losses.

Nov 04 2018 at 07:20
12 Posts
NicoF1 posted:
Trade with no stop loss Is madness

Agree! it saves your account from blowing up.

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