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Glad it works for you but I d advice anybody not to do like you:-)
Interestingly, when I ceased using stop losses, that is when I became completely profitable. I've dismissed the idea of risk-reward ratio. And up to now, it made me recover of my losses and return into form.
Exactly! And i agree with you. But here is another catch. I begin my account to an amount that I'm always willing to discount 100%. But I leave the half to trading and withdraw the cash after I recover it all. Given that I've already withdrawn my initial capital, I'm not afraid to eliminate the current fund. This is the reason why I'm unafraid not to bring a stop loss.
hahaha. . .ok, I know know. Your explanation is crystal clear, fantastic luck to you!
Yes, it occurred when you will find those spike up or downs (I call them ¨SL cleansers ), also in the event that you place the SL to brief, but when I burden pros and cons. . .with no doubt that I believe I minimize risk placing SL (within my own experience).
I now read your last remark. . .and it clarifies everything. . .hahaha, you aren't scared to lose the money, that´s fine. . .for youpersonally, but not for me. . .lol
Fair enough, great if you've got your own money management technique
If it works for you, dont change it ;-)
One should always use a stop loss if you will end up cutting your winning Transactions in order to Handle your losing trades, Rather than using a stop you are not removing risk You're postponing risk Using the Possibility of turning a small Reduction into a possible Enormous loss that'll damage your account and Lead to Psychological damage You Reduce your losses and let your winners run Perhaps Not the other way round this is something you must accept and embrace if You're ever to Succeed
Really? How do you explain what I have been doing now for a living?
Trading using a SL is like giving the broker fuel to the fire convinced it may work on some occasions but they could see your placement and consequently your weakness (SL) and the trick they use is to expand spreads (Bid/Ask price) when/if price is close your SL so as to take out you, but then you would have known that if you had been trading for a living.
Incidentally I love seeing people stating cut your losses and run your winners... run your winners to where the north pole? If you know where and when to run your winners would have the markets, the simple fact of reality is that you have no clue.
Be realistic do not make things up from your bad experiences but state the facts out of success.
I respect everyone trading, since risk management is a personal decision. But, I personally think that it is safer to use SL for apparent reasons.
Said that, when you're speaking about SL make easier for the broker to perform against you with spreads and SL, then it's only when your broker is a market maker, otherwise the broker is simply a broker or intermediary and only earn money from the comissions.
Some instances price move up or down 30, 40 or more pips in some seconds, other times there are slippages, and other times the challenge is mental and you wait to close a failure position expecting price reverse into your side....so placing SL looks much, much safer. . .and also are you watching the screen all of the time? It is a big effort to mepersonally, and with no SL Id be panicking when volatility is large, or there are a few appropriate news on earth. . .how do you feel about doing it?
I know sometimes the price goes to consume SLs and after that come back into your winning position, and I hate that. . .so, I have learned to place SL a tiny bit longer than my analysis says (it doesnt hurt my pocket too much). And I feel secure if a few fast movement suddenly occur.
Again, you can do whatever works for youpersonally, but it doesnt mean this is the best way for everyone (I am not saying youve said it).
Good trading
OK I know you are not going to like what I'm going to state and no offence to you BUT your broker whether or not a market maker or not is in existence to make money for himself and his liquidity providers and not in 1 manner in any and many ways including spreads, slippage and carrying you from a trade that he retains 100% of their profit so once you say just market manufacturers do that really shows your lack of awareness of a broker or when I say both broker and liquidity provider. If a broker doesn't earn money he doesn't survive.
I have been asked as an affiliate what disperse increase would I like and I wonder how much slippage they increase as well..this clearly demonstrates they are ready to do whatever scam it requires to maintain an institutional trader or some large traders within the tiny traders.
In reaction to you and many here your number one enemy is the broker be it controlled or not, makes no difference. If you can overcome their manipulative ways you can turn to your strategy to make it profitable.
I have single handed seen with my current ASIC regulated broker expand spreads drastically, increase slippage to an unacceptable amount so I am not discussing a dream here nor a fantasy but only by observation with a non market maker that's regulated.
I.e all brokers are scammers, they must be to live but the issue is the most stupid people think that they are legit and honest.
We are here as traders hence on the same side working to make profits so forexintradi the most significant thing you have said which I agree 100% is MM. Your success will be determined by that alongside your strategy and nothing else. The market will go where the market would like to go our job as traders is to get in and out with profits by beating brokers and market moves.
What have you been doing sucessfully for years? Winners run with a trailing stop that I consider you're familiar with this? Don't tell me that I have no clue you ought to reign on your nasty and confrontational mindset man
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