Trading without stop-losses

[Jack Francisco]

Hello, every one!

i have a question that anyone trade without stop-losses, and succeeded?
Trading without stop-loss can be done? has any opinion, plz comment here?
thanks.

 

[dkami]

Trading with leverage and not using some sort of hard stop even for carry trades is just asking for trouble unless you have capital behind you to back up your trades!!!

But if you are not using leverage I don't see anything wrong with not using a SL as i have traded stock for many yrs never with a SL and my profits made is way more than my portfolio worth,so the stock I hold owes me nothing(this is not to say i have never taken a hit on a stock @ a loss before because I have but it not because price hit a SL)

 

[Pharaoh]

SL is even a good idea in the stock market. You won't get a margin call since there's no leverage, but you can lose a huge percent of your money if a stock takes a tumble.

The biggest objection to SL in forex is that your broker could hunt your stop. There are 2 solutions to this problem:

#1. Get a better broker.
#2. Put an "emergency SL" 40-100 pips further out. This could save your account if your internet connection goes down at a critical moment. If your broker hunts stops that widely, see #1.

 

[WaveRider]

One of the biggest differences between successful traders and unsuccessful ones is the successful traders are mostly concerned with protecting the account value and unsuccessful are mostly concerned with earning profits. The problem isn't using one, it's placing it in the right place. If you're really worried about brokers stopping you on the smaller TF's you can switch to larger TF's where they can't influence trades much or trade forex futures, where the broker has no interest in your trade.

 

[RahmanSL]

Yes, dkami, WaveRider, and that Acient One are very correct about placing (or not to place, as the case may be) Stop Loss (SL) on all your trades.

For me, I simply solved that delima by placing the "SL" at the end of my name "Rahman" ....so, no need to place them on any of my trades

 

[Pharaoh]

And someday you'll get to change your name to RahmanMarginCall.

 

[RahmanSL]

"And someday you'll get to change your name to RahmanMarginCall."

Why "someday"???....it already has happened many, many, many times....and not only just "margin call" either, but full and total "stopped out"

So, to "prevent" that from happening again, I put "SL" at the end of my name....so, to gain "immunity" against Stop Out, the "SL" at the end of my name serve as a "protection amulet"....Thought of using your sacred scarab thought, but it's "profession" doesn't quite suit trading the forex

 

[Jack Francisco]

Which broker you usually trade? Any suggestions

SL is even a good idea in the stock market. You won't get a margin call since there's no leverage, but you can lose a huge percent of your money if a stock takes a tumble.

The biggest objection to SL in forex is that your broker could hunt your stop. There are 2 solutions to this problem:

#1. Get a better broker.
#2. Put an "emergency SL" 40-100 pips further out. This could save your account if your internet connection goes down at a critical moment. If your broker hunts stops that widely, see #1.

 

[yideng]

One of the biggest differences between successful traders and unsuccessful ones is the successful traders are mostly concerned with protecting the account value and unsuccessful are mostly concerned with earning profits. The problem isn't using one, it's placing it in the right place. If you're really worried about brokers stopping you on the smaller TF's you can switch to larger TF's where they can't influence trades much or trade forex futures, where the broker has no interest in your trade.

Trading without stop-losses will never be a good idea, if you want to be a successful trader, you should always learn to keep your account from great losses.

 

[Pharaoh]

Which broker you usually trade? Any suggestions

Picking a broker depends on so many things. There is no one-size-fits-all brokerage that I'm aware of. As far as I'm concerned, if someone pops up and answers a broker recommendation question that doesn't have a pile of details about what the client needs with "The perfect broker for you is _____", I consider that to be a huge recommendation NOT to use that broker.

Read these for more info:

https://www.forexpeacearmy.com/forex-forum/forex-basics-boot-camp/2333-how-select-forex-broker.html

https://www.forexpeacearmy.com/forex-forum/beginners-bootcamp/12903-best-forex-broker.html