Trading without a stop loss! - Page 2
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Thread: Trading without a stop loss!

  1. #11
    I really do trade with a stop loss.

    The stop loss must be related to the timeframe I use to set up the trade. If I set up my technician analysis (fibos, trendlines, moving averages, etc) off the daily chart, then the stop loss gotta be ordered by the daily chart's crucial support/resistance amounts, like for example a trendline, or a preceding high/low, etc..

    If the stop loss is too big for my preference, I decrease the lot size so.

  2. #12
    I've been trading for a lengthy time today and my stop loss egy differs from most.

    I've tried all kind of methods as well as the one I have found works best for me would be using a 40 point stop (I only trade cable) but the difference is that after I am in front and profitable with 20 points to 30 points I change the stop loss to zero. This relies on Mark Douglas's novel Trading in the zone and what he talks about a zero risk trade. I've discovered that after I am in this profitable area I become a lot more objective and calm about the trade.

    Everybody on the forum's discuss this egy and this technical and gann and blah blah blah but've forgotten the people that drive this market, and it is absolutely not the traders on here, it is the bank traders who will trade around $50 Million in a trade (500 contracts), they are operating on time zone egy, ie that they must make money for your bank in the working hours they are there. Perhaps you have noticed that the market moves at 7am London period and 8.30am New York time?? They come in a sit and take a trade. They will not be in it for one hour, so they will take the trade and then allow it to run so long because it is profitable over the course of another 4-5 hours. All these are things which you ought to be keeping in the back of your mind whenever you're up 35 points in one hour, ie the transfer has not finished.

    By all means use the other specifics but by utilizing a zero stop and leaving it for a couple of hours and after up 70 - 80 points then take it. Go back and perform some calculations on the currency you're trading and take 3 -5 months worth of information on what the maximum move over a day was (Amount of points from the low to the high on the afternoon ) and come up with an average over the period in question. Was it 60 points? Was it 80 points? Was it 100 points? If it is 80 points and the low was 60 points away from where you are now, then you have a fantastic idea that the move won't be a terrific deal farther. This will not work all the time, but employed consistantly it will generate profits for you personally, and Consistantly being able to make profits is what is all about, not tops or bottoms or this wave or that.

    Hope this helps.

  3. #13
    Agree Bear73, moving cease to breakeven as soon as possible is vital in this game. Capital protection is essential!

  4. #14
    Quote Originally Posted by ;
    I have been trading for a lengthy time now and my stop loss egy is different from most.
    ...

    Everyone on the forum's discuss this egy and this technical and gann and blah blah blah but've forgotten the people that push this market, and it is certainly not the traders on here, it is the bank traders that will trade up to $50 Million in a trade (500 contracts), they are operating on time zone egy, ie that they have to create money for the bank in the working hours they are there. Have you noticed that the market moves at 7am London period and 8.30am New York time?? They arrive in a sit and take a trade. They won't be in it for one hour, so they will take the transaction and then allow it to run so long because it is profitable over the course of another 4-5 hours. These are things which you should be keeping in the back of your mind whenever you are up 35 points within one hour, ie the move hasn't ended.

    By all means use the other specifics but by utilizing a zero stop and leaving it for two or three hours and once up 70 - 80 points then take it. Return and do some calculations on the currency you are trading and take 3 -5 months worth of information on what the maximum move above a day was (Amount of points from the low to the top on the afternoon ) and then come up with an average over the interval in question. Was it 60 points? Was it 80 points? Was it 100 points? If it is 80 points and the low was 60 points from where you are now, then you have a good thought that the move will not be an excellent deal farther. This won't work all of the time, but employed consistantly it will generate profits for you personally, and Consistantly having the ability to make profits is what's all about, not tops or bottoms or this tide or that.

    Hope this helps.
    Hi Bear,

    I agree with you about a Typical Daily Range and that without Fundamental Intervention, it should be within reason to anticipate that it would last.

    That was the reasoning behind developing the connected VT Indior.
    It's designed to browse the loaded history of a Chart Timeframe of 1 Hour or Less.
    Basically, what it really does:
    Beginning at the Opening Time of your Selection [You decide on a 24 Hour Session], it calculates the Median Daily Range [(Maximum 24 Hr Range Lowest 24 Hr Range)/2] Note. This Isn't a Moving Average. It will only change if the Pair puts in a New HDR or LDR.

    Subsequently it says OK, Following the Opening Time of My Choice, If the Price Moves xx pips from this Open, It's Going to have a Propensity to continue to fulfill the Median Daily Range so I should be Entering the Market at the level. Green Line

    As it makes New Highs for the Day Subsequently the Projected Low Goal Red Line Recall, still the MDR from the High Ought to Be moved up so and vice versa to New Lows}

    If the Price strikes the Projected Goal Red Line, Plot a Dot on that line to let me know its time to Exit.
    There are more details and explanation written from the code.
    https://forexintuitive.com/attachmen...1521912117.zip

  5. #15
    Trading without a stop loss is like leaping from a plane without a parachute. With that said, stop loss placement may vary depending upon the egy or method being used. I'll sometimes have a ten pip stop, sometimes a 50, or even a 100 pip stop.

    What is important to remember, if your stop isn't in a positive relationship to your profit goal, why put the commerce? If I have a 100 pip quit, you can bet I'm not trading with a goal of 50, I am searching for a 5-6 cent move.

  6. #16
    Quote Originally Posted by ;
    Trading without a stop loss is similar to leaping from a plane without a parachute. That said, stop loss placement may vary depending upon the egy or method being used. I will occasionally have a ten pip stop, occasionally a 50, or even a 100 pip stop.

    What's important to remember, if your stop isn't in a positive relationship to your profit target, why place the commerce? When I have a 100 pip quit, you can bet I am not trading using a target of 50, I am looking for a 5-6 cent move.
    100% authentic

  7. #17
    Quote Originally Posted by ;
    Trading with no stop loss is similar to jumping from a plane with no parachute. That said, stop loss placement may vary based on the egy or method. I will occasionally have a ten pip stop or possibly a 100 pip stop.

    What is important to keep in mind, if your stop isn't in a favorable relationship to your profit target, why place the trade? When I have a 100 pip quit, you can bet I'm not trading using a target of 50, I am looking for a 5-6 cent move.
    I disagree. This is only one of the reasons why a lot of people dont get into great trades.

    I'd risk 50 pips for a 20 pips profit!!!!!!

    Why ? Have I gone crazy??? The solution is you need to chk the probabilty of this target / stop reduction being reached.

    If previous performace has revealed the sucess rate of such an event is 90% then I may be profitable risking
    Lets say I trade 100 times

    90 * 20 = 1800 pips
    10 * 50 = 500 pips
    Complete = 1300 pips

    Now if I say I tighten the stop loss yet when I do that it may significantly affect my win-loose ratio.

    The title of this game isn't a tight stop loss. The title of the game that I love to play is turning money to the bank

  8. #18
    Quote Originally Posted by ;
    I disagree. This is only one of the reasons why a lot of people dont get into good trades.

    I'd risk 50 pips to get a 20 pips profit!!!!!!

    Why ? Have I gone crazy??? The answer is you have to chk that the probabilty of this goal / stop loss being reached.

    If past performace has showed the sucess rate of such an event is 90% then I may be profitable risking
    Lets say I commerce 100 times

    90 * 20 = 1800 pips
    10 * 50 = 500 pips
    Complete = 1300 pips

    If I say I tighten the stop loss however when I do that it may significantly affect my win-loose ratio.

    The name of this game is not a tight stop loss. The title of this game I like to play with is Putting money into the bank
    Should you arrive at the point of risking 50pips to get 20pips seamn to me your are a little late, which means that you may get in sonner, but you overlook the signal. As I saw until now no signal came with a bigger stop loss than a take profit. Any analyse that I made have direct me to a bigger take profit a stop loss.

  9. #19
    Men your disagreement is just practical and very helpful indeed. It's getting intriguing.
    I perfer reading with'silence' for today.

    I'm a euro bull this afternoon.

  10. #20
    Quote Originally Posted by ;
    If you reach the point of risking 50pips to get 20pips seamn to me your are a little late, which means that you could get in sonner, but you overlook the signal. As I saw until today no signal came with a bigger stop reduction than a shoot profit. Any analyse I made have lead me into a bigger take profit a stop loss.
    It actually depends upon the trade plan, what if my commerce egy gives me a buy signal only once the market has moved into a specific distance, and my trde plan is right greater than 90% of the time, however my trade egy demands a lot of breathing space to get a halt loss.

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