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Stop Loss Importance
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greenbandits

Medlem sedan Feb 08, 2019  17 poster Anthony Ramos (greenbandits) Jun 13 at 01:43
I was always taught to use a stop loss and for good reason, most and all traders are not 100% certain where the market may go.
Now I will sound insane but indulge me for a second.

What if you actually knew 100% that the market was indeed going to go your way even in the short term.

Then using a stop would not really matter in that case correct?

But the 1 million dollar question: who really knows when that will occur? And be consistent not just lucky on the draw...neutral

I believe that is the ultimate goal of all traders even if they don't care to admit it..

Stops are a safety net one should always use unless they are 100% accurate 100% of the time


Insta-@Greenbandits #TradeLikeaBandit
PROFITINGSYSTEMS

Medlem sedan Jun 04, 2020  48 poster ProfitingSystems (PROFITINGSYSTEMS) Jun 14 at 10:00
greenbandits posted:
I was always taught to use a stop loss and for good reason, most and all traders are not 100% certain where the market may go.
Now I will sound insane but indulge me for a second.

What if you actually knew 100% that the market was indeed going to go your way even in the short term.

Then using a stop would not really matter in that case correct?

But the 1 million dollar question: who really knows when that will occur? And be consistent not just lucky on the draw...neutral

I believe that is the ultimate goal of all traders even if they don't care to admit it..

Stops are a safety net one should always use unless they are 100% accurate 100% of the time


quote]greenbandits posted:
I was always taught to use a stop loss and for good reason, most and all traders are not 100% certain where the market may go.
Now I will sound insane but indulge me for a second.

What if you actually knew 100% that the market was indeed going to go your way even in the short term.

Then using a stop would not really matter in that case correct?

But the 1 million dollar question: who really knows when that will occur? And be consistent not just lucky on the draw...neutral

I believe that is the ultimate goal of all traders even if they don't care to admit it..

Stops are a safety net one should always use unless they are 100% accurate 100% of the time


Always use stoplosses even if you are right, you never can tell when spike might occur against you, so stoploss I always use and best it is in saving profits for me.

smtrader86

Medlem sedan Mar 31, 2018  21 poster SMtrader86 (smtrader86) Jun 14 at 11:35
madquant posted:
I don't mean discredit other's opinions but here is my take about stop loss.

If your trade lots are 'properly sized', you may never need a stop loss.

To avoid a debate because systems are different per trader, here's a thought experiment which some of you may relate to. How many of your trades have been 'supposedly right' only had it not been 'stopped'? Another one is, how many times have your accounts 'should have been blown' but saved by 'stop loss'?

If you quantify this correctly in terms of profits, then you will know objectively whether your system needs a stop loss or not.


Well Said, best response so far!!, I don't use stop loss, however my position is 'properly sized' so even if any unexpected event that occur it wouldn't blow my account. Once i fully understood this i have became consistently profitable. Also when unpredictable occasion/events occur (which always happen) you can hedge your positions. To give you time in order to re-evaluate your outlook.

Also as he mentioned it all depends on the strategy you deploy...cool

PROFITINGSYSTEMS

Medlem sedan Jun 04, 2020  48 poster ProfitingSystems (PROFITINGSYSTEMS) Jun 14 at 11:41
saleh86 posted:
madquant posted:
I don't mean discredit other's opinions but here is my take about stop loss.

If your trade lots are 'properly sized', you may never need a stop loss.

To avoid a debate because systems are different per trader, here's a thought experiment which some of you may relate to. How many of your trades have been 'supposedly right' only had it not been 'stopped'? Another one is, how many times have your accounts 'should have been blown' but saved by 'stop loss'?

If you quantify this correctly in terms of profits, then you will know objectively whether your system needs a stop loss or not.


Well Said, best response so far!!, I don't use stop loss, however my position is 'properly sized' so even if any unexpected event that occur it wouldn't blow my account. Once i fully understood this i have became consistently profitable. Also when unpredictable occasion/events occur (which always happen) you can hedge your positions. To give you time in order to re-evaluate your outlook.

Also as he mentioned it all depends on the strategy you deploy...cool

You better start using stops, but it's your choice.There was an event that happened couple of years ago I can't remember but not up to a decade, market jumped like more than 10,000 pips in some pairs in a single move, although I have stoplosses and it also went in my favour, just assuming you are in such situation and have a 10,000 pips against you in few seconds, now tell me what you will do or you think your balance shit will be? Better be protected all the time.

Dictiony

Medlem sedan Apr 01, 2020  130 poster Dictiony Jun 15 at 00:20
Using stop loss is really important for trader's and all types of trader's have to use stop loss, no matter which type of strategy you are using, no matter which time frame you are using for trading you have to always follow stop loss in trading. I would suggest you to check your risk and reward every time and try to open your positions for good reward areas only. I personally on concentrate on 1:2 risk and reward trading strategies.

smtrader86

Medlem sedan Mar 31, 2018  21 poster SMtrader86 (smtrader86) Jun 15 at 10:56 (editerad Jun 15 at 11:08 )
PROFITINGSYSTEMS posted:
saleh86 posted:
madquant posted:
I don't mean discredit other's opinions but here is my take about stop loss.

If your trade lots are 'properly sized', you may never need a stop loss.

To avoid a debate because systems are different per trader, here's a thought experiment which some of you may relate to. How many of your trades have been 'supposedly right' only had it not been 'stopped'? Another one is, how many times have your accounts 'should have been blown' but saved by 'stop loss'?

If you quantify this correctly in terms of profits, then you will know objectively whether your system needs a stop loss or not.


Well Said, best response so far!!, I don't use stop loss, however my position is 'properly sized' so even if any unexpected event that occur it wouldn't blow my account. Once i fully understood this i have became consistently profitable. Also when unpredictable occasion/events occur (which always happen) you can hedge your positions. To give you time in order to re-evaluate your outlook.

Also as he mentioned it all depends on the strategy you deploy...cool

You better start using stops, but it's your choice.There was an event that happened couple of years ago I can't remember but not up to a decade, market jumped like more than 10,000 pips in some pairs in a single move, although I have stoplosses and it also went in my favour, just assuming you are in such situation and have a 10,000 pips against you in few seconds, now tell me what you will do or you think your balance shit will be? Better be protected all the time.




What and when did this event occur where 10,000 pips loss occurred within a few second... please let me know and what pair?

greenbandits

Medlem sedan Feb 08, 2019  17 poster Anthony Ramos (greenbandits) Jun 15 at 14:39
PROFITINGSYSTEMS posted:
Always use stoplosses even if you are right, you never can tell when spike might occur against you, so stoploss I always use and best it is in saving profits for me.


Totally agree..

Secure the bag especially when your trade is in profit...

Insta-@Greenbandits #TradeLikeaBandit
Daniel32946

Medlem sedan Feb 12, 2020  9 poster Daniel (Daniel32946) Jun 19 at 12:10
Stop loss is a very important function

Roberto21

Medlem sedan May 02, 2019  319 poster Roberto21 Jun 21 at 15:23
Lacking of money management is a part of losing, I admit it. But not the foremost at all. The main issue is keeping emotions with lack of good trading knowledge.

villaintrader

Medlem sedan May 10, 2019  14 poster villaintrader Jun 22 at 05:27
All the forex market does is bounce up and down between the stop losses and the prices where retail traders are closing at a loss. Whether you set a SL or not. You always have one. Even when not using leverage. If market moves 50% against you. Your broker closes your trade for a -50% loss.

It’s ultimate a scam. But the 1% of lucky traders will get very wealthy from it. At the expense of all the others.

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