I agree, it's a really poor choice to do this. It's important to stick to one's plans.
I agree, it's a really poor choice to do this. It's important to stick to one's plans.
Trading with no stop loss. Using stop reduction is the fundamental of risk management. So when the market goes against your position, you will not end up blowing your margin in losses.
Six months I've been trading without stop loss and I will continue to keep my trading strategy to never use SL.
Hopefully good for me
Not a problem for my personal system. I will close my trade way before it strikes my stop loss, if I have been handling the transaction. I try to not let any place becoming worse than 20 pips when I could help it.
Swing trader. Rip-off 4H charts.
I use a rather major stop loss, to buffer any possible unexpected volatility. My trade entries are usually at severely over extended levels, areas where I think most retail traders' trading places have been already ceased out. My entries are so conservative to the point that I am only able to get into transaction once or twice a month. But when I get into a transaction, they are normally good.
Once I see any place hits -20 pips, I'll wait patiently for it to retrace to around -10 pips, and click on the close place button without hesitation. There's no need for me to become greedy and try to cling on to the place, as the price is currently in a place of extreme over extension, and I might have been wrong about the transaction.
If you could be seeing your charts daily while you trade would you avoid using stop loss? Wouldn't you worry about reduction of Internet or server connection?
If one use appropriate control with SL, it'll save invested money with trade. If you cannot put right SL then it's bad to attribute it, it's our mistake that we've got use incorrect SL position in exchange.
Without SL trading your cash is not safe for your capital, it is not properly handled the transaction. To save your cash from big reduction, it's always good to have SL at proper calcuation.
How do you prefer to set your stop loss? Which factors do you take into account if you do this?
Trading without a stoploss is a mistake. Even if you are 99.9% sure where the market will proceed in the near future, there is still an opportunity for some fundamental event causing the price to change greatly and you might have your account dismissed by a sudden shift in price.