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Trading without stop loss

8christianpaul8 (8christianpaul8)
Jan 11 at 10:20
87 poster
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.
ele020 (ele020)
Jan 11 at 10:56
212 poster
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 at 03:55
15 poster
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.

russellgutierrez (russellgutierrez)
Jan 12 at 06:25
56 poster
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.

8christianpaul8 (8christianpaul8)
Jan 12 at 08:26
87 poster
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 at 09:56
24 poster
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 at 09:58
21 poster
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 at 10:57
22 poster
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 at 03:56
16 poster
Yes, it does work for some traders but for others, making use of a stop loss can be a life saviour.

SofieAndreasen
Feb 26 at 05:00
493 poster
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.

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