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YOU FORGOT TO ADD THAT WHEN THE MARKET DROPPED (I.E GAPPED DOWN) SUDDENLY SO MANY PIPS ALL STOP LOSSES WERE BYPASSED ALL MARKET ORDERS Weren't FILLED etc. . .this alone shows that YOU have no clue what you're talking about lol
but just like I said if you're a fantastic trader you would have known this right?
No opinions, your words talk load enough about who you are. Now, excuse me I am going to read the comments of some other trader comments, like FXSaywhat, Demoantares, etc.. .qho onviously know what are referring to and it is wrrh it to be read (regardles they have some education....lol). Good luck....but unfortunately your huge mouth and lack of respect and your lack of knowledge of course will take you directly to the 95% of traders that loose money (good, no doubt you're deep there already). Hasta la vista baby!!!
this is the live example of one of the most striking recent events: usdchf dropped just 1 886 pips. I know many people who can handle 2 000 pips drawdown. This example demonstrates how using sl is important.
However, I seriously doubt anyone here knows that this example also demonstrates how important not using stop loss is if you have a solid risk management considering risk of ruin.
Think this way, if a person had 100, 500 or 1000 pips sl, he'd eliminate shit a lot of money. In the same time, this real example shows that someone who can handle 2000 pips drawdown could have recovered all losses plus profit if utilized martingale.
This is the very reason why no one has got a fcking directly to judge someone else's trading style or methods or inform someone if he should use stop loss or shouldn't.
If you use stop loss, great. But never tell others that your way is the absolute best method of of doing this. Because it's fcking not. There are just TOO many ways of a doing things.
PS. I use or do not use stop loss depending upon the TOO many factors how many factors can exist to handle a transaction that is simple.
The matter that I have discovered is that almost all of the men and women who speak with specialist authority here and give strong opinions about what others should or should not do, do not share their current history. I wonder why this is... lol
And it can not be because somebody doesn't wish to disclose what they have in their account for security reasons, because everyone here uses aliases and nobody knows who you really are in real life anyway. What does it matter whether you truly do understand what you are discussing and if you've got another reason you do not want people to see your actual effects? ....
Just an observation... (BTW this is not directed at Tashkent.... Just generally )
you're right in all however, the stop loss issue... that minute the market GAPPED down not proceeded gradually or rapidly it GAPPED down so no stop loss would have saved you nothing would have saved an open trade in the opposite direction unless your risk management was perfect just like you said.
So most neglect as a result of greed their risk tolerance is so high that they could fly with it lol, you ( i.e risk management) should be able to handle considerably greater than 2000 movement against you if you would like to stay trading for a living and even though the market regathered it's losses you do not understand that until the even took place. Is what ever risk management you have must be able to deal with such enormous movements and a STOP LOSS WILL NOT SAVE YOU WHEN THE MARKET GAPS.
Most people want to become millionaires overnight which implies their risk tolerance is very high, which leads me to conclude they will eventually crash their account.
It really wouldn't matter whether that individual has a great trading stats or not. Every system just represents only its proprietor. Unless he becomes that individual, which is not 20, someone can not accommodate somebody's else's sytem. Trading process is not only a whole lot of rules that are freaking. It's actually the character of the owner of the machine.
Everyone deserves the right to determine either to use or not to use stop loss in agreement with his own risk management.
you're right on spot. In that case, who dwelt was the ones with a superb risk management which can withstand at least few million pips drawdown with no stop loss. With some patience that they got the break even. Others who'd sl or bad risk management were the individuals who got raped.
There's always the other side of the coin...
Not impressed that a person is drawing 2000 pips and possibly recovering to breakeven or that the only way a few people could earn money was in an artificial market which finally collapsed.
But if it works for you, then that's all that matters.
Could the typical retail trader who normally reads/writes on Forex Factory capable to withstand such a USDCHF 1,856 pips without a Stop Loss??
Some few traders may manage this type of 2,000-pips drawdown, majority of average traders likely couldn't manage such a significant drawdown without a margin call.
Why would a trader want to give a 2,000-pips when they may give away said a 20-pips, or 50-pips or even 100-pips as a stop loss for instance.
The trader may have save 1,900-pips, and may use the 1,900-pips to perform a different kind of trade.
The CHF un-peg was a major un-expected occasion, that we wouldn't know what might happened if a trader have a stop loss, since the CHF movement was so quick, do not know how far off the exits may have trigger by the stop loss.
People predominate quickly what occurred to even Professional Firms and Professional Hedge Funds after the CHF un-pegged in Jan-2015.
This isn't to say whether those Professional Funding in under cases utilized stop not, as we really do not know their surgeries on the CHF un-pegged.
I could only guessed they did not used proper Stop Loss.
If such Professional Money cannot even deal with these kind of 1,886 pips drawdown, would it be sensible to assume Average Retail Forex Trader can manage such a drawdown??
Whether a trader uses a Stop Loss or not utilize a Stop Loss, it is up to them to select.
Other men and women are not judging if a trader employs a Stop Loss or do not utilize a Stop Loss, only the Trader themselves and their Results are the sole judge.
But if a Stop Loss is useful or not, is that a Stop loss may be helpful.
Below are only a quick Google search of two real cases of the CHF un-pegged in Jan-2015.
There were more real similar cases whose surgeries may have shut or suffered tremendously financially when CHF was unpegged.
On 16 January 2015, it was reported that Alpari has entered insolvency following significant losses the previous day once the https://en.wikipedia.org/wiki/Swiss_National_Bank unexpectedly removed the https://en.wikipedia.org/wiki/Swiss_franc's ceiling against the https://en.wikipedia.org/wiki/Euro. Https://en.wikipedia.org/wiki/Alpari...cyTelegraph-17https://en.wikipedia.org/wiki/Alpari...solvencyBBC-18 On 17 January 2015, Alpari explained on its site that it hadn't entered a formal insolvency procedure, https://en.wikipedia.org/wiki/Alpari...olventForex-19 although its board of supervisors were considering all options including a sale. Https://en.wikipedia.org/wiki/Alpari...entLeapRate-20 On January 19, Alpari (UK) Ltd. applied for formal insolvency and the https://en.wikipedia.org/wiki/High_Court_of_Justice appointed a particular administrators from https://en.wikipedia.org/wiki/KPMG under Special Administration Regime. Https://en.wikipedia.org/wiki/Alpari_Group#cite_note-21 https://en.wikipedia.org/wiki/IronFX, a https://en.wikipedia.org/wiki/Cyprus-established https://en.wikipedia.org/wiki/Foreign_exchange_trading company, confirmed its bid on Alpari in January 2015.
Business News | Sat Jan 17, 2015 1:29pm EST
Big Everest Capital hedge fund closure after Swiss franc losses: Bloomberg
Hedge fund manager Marko Dimitrijevic is final his largest hedge fund, Everest Capital's Global Fund, having lost nearly all of its cash after the Swiss National Bank (SNB) scrapped its three-year-old cap onto the franc against the euro, Bloomberg news reported on Saturday.
Citing a individual familiar with the company, Bloomberg said the fund was betting the Swiss franc would fall. The fund had about $830 million in assets at the end of 2014, according to a customer report mentioned by Bloomberg.
Everest Capital, based in Miami and specializing in emerging markets, still manages seven funds with about $2.2 billion in assets, Bloomberg said.
The SNB triggered big losses around the globe on Thursday when it removed a three-year-old cap on the value of the Swiss franc against the euro, enabling it to soar.
Talking the talk and walking the walk are two different things. I can say that, this or the other. Irrespective of how exactly does it, proving you could trade, is done with results. Unless something on this world has changed, no one that trades for a dwelling is paying invoices. If you use stop losses, don't use and the cash in your own trading and bank accounts is what matters.
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