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Importance of Stop Loss

LyudmilLukanov
Sep 23 2020 at 17:29
377 príspevkov
pegima posted:
Stop-loss is one of the most important things in forex trading especially for beginners and for those who do day trading.

I agree. I prefer trailing stop loss. If I see a potential trade then I go for trailing SL. Otherwise I use normal SL order.

GeorgeBischof
Sep 23 2020 at 18:48
318 príspevkov
Stop loss is very important for the new traders to deal with their losses.

ProfitsOnly
forex_trader_[1786937] ()
Sep 24 2020 at 03:32
142 príspevkov
Stop loss or Auto take out of Buy/Sell limits actually help you to have a good risk management and make you compound your profits very well, this is also one of my best strategies, and make my profits consistent.

Amber_0302
Sep 24 2020 at 04:45
54 príspevkov
Stop loss helps you to reduce the chances of loss and helps you to manage the risk.

Silverthorn (Silverthorn)
Sep 24 2020 at 05:24
268 príspevkov
So many BS Bla Bla responses. Yes we've all read the books. For me, I am a very profitable (trader of more than 40 years experience in stocks, commodities and forex) and I only became profitable when I stopped using a stop loss. Now I NEVER use a stop loss. NEVER, ever, ever. My account is my stop loss. I only fund the amount with the TOTAL amount that I am prepared to loose and don't make stupid trades. In other words if I fund an account I am prepared to loose 100% of that account without loosing sleep. Then I go all in on every trade I do make. Because I am all in on every trade I have to refund the account when I loose. I can't and wont add funds to move a Margin call at the last minute. This slows down the decision making process for me and ensures that I have conviction on every trade. You are less likely to make stupid decisions when everything is at stake. So when I'm wrong I'm just simply wrong and I have to accept that. When I'm right I'm leveraged up to the eye balls with all in and ...... KACHING!!$$$$$$$$$

Not the trading style for everyone and a long way from main stream BS that floats around but I'm working about three hours a day for an income that would make your eyes water.


You can't spend open trades.
Silverthorn (Silverthorn)
Sep 24 2020 at 05:50
268 príspevkov
PS... I haven't been a profitable trader all my life. I spent more than 10 years paying my dues and giving a LOT (the cost of a couple of houses worth to be honest) of money to the system before I became profitable. I've been there. Persistence, commitment and tenacity are a traders best qualities. It takes time to find your groove.

You can't spend open trades.
Visser01
Sep 24 2020 at 06:54
15 príspevkov
Amber_0302 posted:
Stop loss helps you to reduce the chances of loss and helps you to manage the risk.

Right, a good way for traders to limit their losses, however, not all traders use it.

togr (togr)
Sep 24 2020 at 09:07
4862 príspevkov
Silverthorn posted:
PS... I haven't been a profitable trader all my life. I spent more than 10 years paying my dues and giving a LOT (the cost of a couple of houses worth to be honest) of money to the system before I became profitable. I've been there. Persistence, commitment and tenacity are a traders best qualities. It takes time to find your groove.


SO why dont you publish your results after such long struggle?

Silverthorn (Silverthorn)
Sep 24 2020 at 11:57
268 príspevkov
togr posted:
Silverthorn posted:
PS... I haven't been a profitable trader all my life. I spent more than 10 years paying my dues and giving a LOT (the cost of a couple of houses worth to be honest) of money to the system before I became profitable. I've been there. Persistence, commitment and tenacity are a traders best qualities. It takes time to find your groove.


SO why dont you publish your results after such long struggle?


You've always said the same thing and I'll always give you the same answer I've always given you Buddy.

You can't spend open trades.
togr (togr)
Sep 24 2020 at 13:24
4862 príspevkov
Silverthorn posted:
togr posted:
Silverthorn posted:
PS... I haven't been a profitable trader all my life. I spent more than 10 years paying my dues and giving a LOT (the cost of a couple of houses worth to be honest) of money to the system before I became profitable. I've been there. Persistence, commitment and tenacity are a traders best qualities. It takes time to find your groove.


SO why dont you publish your results after such long struggle?


You've always said the same thing and I'll always give you the same answer I've always given you Buddy.

“Each time a person passes by you and you say 'hello', imagine that person turning into a candle. The more positivity, love and light you reflect, the more light is mirrored your way. Sharing beautiful hellos is the quickest way to earn spiritual brownie points. You should start seeing hellos as small declarations of faith. Every time you say hello to a stranger, your heart acknowledges over and over again that we are all family.”

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