thread: Trading without stop-losses

quote Hi mecandie, you can using the management of Weekly SMA 3 and D1 SMA 3 at the same way as the filtering of trend management in the start or D1 sma3 and sma 16 picture Cheers

This is exactly what I believe:
D1 MVA-3

W1 MVA-3

M1 MVA-3


I entered a brief trade at Tp 0.74255 because December 17, also have been following MVA-3 (pink line). Notice that D1, W1, and M1 are all aligned, which explains the reason why I don't require a stop loss. You save by not entering or exiting at every point.

USING DAILY FX SUPPORT/RESISTANCE CHART TO ADJUST TRADE DIRECTION

DailyFX - Support and Resistance
Friday, December 23, 2016 03:18 PM

AUD/USD D1 MVA-3



See that AUD/USD resistance is maxing out in R3 of 0.7346 on D1 and AUD/USD. Mkt price reaches 0.7211 and MVA-3 in 0.71956. This says that resistance in D1 may soon be broken or a rebound might happen.



If a rebound occurs, then the transaction direction remains the same. On the other hand, if the resistance is broken, then you have to look at W1 and M1. The market price happens to be below MVA-3 on both W1 and M1. So you produce no change in direction. If you have to respond, you simply lower your lot dimensions.



R3: 0.7346m

Trend: upward



R2: 0.7291m


R1: 0.7235m

S1: 0.7145s
Volatility: 3%


S2: 0.7056m


S3: 0.6946m

I believe it is bothersome when traders believe their way is the only way to trade. I may be a newb but you only need eyeballs to realize there are infinite ways to trade. THERE IS NO RIGHT OR WRONG WAY AS LONG AS IT MAKES YOU MONEY. I look at it as an art than a science... After attempting many systems I finally found one that works for me. I call it 'Dynamic Range Trading'. Ive altered it not to use HARD STOPS but rather my SL and TP are always exactly the same... at the opposite end of this range. That may be in profit or loss it doesnt matter, after it reaches the other end Im outside. And of course the range varies based on market requirements. It works for me and thats all that matters. So if stop losses work for you SWEET, however there are other ways!

I dont use stop losses. see my explorer

Trading without a stop loss do not will not succeed in conducting any FX trading, since it will worry for the price change isn't required. For that I put a stop loss in the time of this open position

Depends on your style, I exchange tick chart, I'm in and out in a matter of seconds occasionally minutes, constantly monitoring the trade, if it functions you simply get out. Nothing but market orders. If you exchange more period frames then yes a stop is highly advised only my .02 however

I am new to fx trading and this website so I can not make a new thread with my question. I believe this topic is pretty close to my question but if not then I am sorry about the derail.

I did not recognize time on Friday and did not shut out my position on time. I also don't have a SL or TP set. I am using Think or Swim... I did not spend too much time on a demo account because I have a difficult time learning if there's no risk. I tried it for a few days and leveraged that this shit from each transaction understanding there was no downside.

Anyways, this is probably pretty irresponsible trading but I've a total 8k USD FX account and also have 2 lots of EUR/USD and 1 lot of USD/JPY. How can I minimize my risk @ market available? I am in California so I'll definitely be alert as it opens @ 11PM PST tonight (I hope I have time right...)

Thank you,
AA

I dont use stop losses. See my explorer

I visit custom age (which very bad signal ) and ~50% drawdown on open transactions.

Thank you for mrhb30jr and mecrandie shared with your own method.
subscribe.

If u wish to exchange with no SL then only do trade in tendencies .never go against the trend