1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

When we can trade without stop loss?

Discussion in 'Beginners Bootcamp' started by navyseal, Jul 31, 2015.

  1. navyseal

    navyseal Private

    Joined:
    Nov 6, 2012
    Messages:
    291
    Likes Received:
    18
    I aware SL is very important for our trades to keep the losses don't go further. But is there any chance to trade without SL? Good fund management?
     
    ssfcp likes this.
  2. Bordux

    Bordux Recruit

    Joined:
    Apr 30, 2015
    Messages:
    45
    Likes Received:
    7
    Short answer is - never trade without SL and I'm sure many more people will agree. Some people (including me) use SL to get feedback from the market to know whether the setup was right or wrong. For example I'm a price action trader, if I see a "pin bar" I put my SL just above high (or low). If my SL is hit I immediately interpret this as market telling me "hey, this setup is invalid, market does not want to go that direction!" However you really want to include a method to trail your SL into your trading plan. That way you might exit the position at break even or some profit in case market turns against you. There are many ways to trail your stop, look them up and pick one that looks nice.
     
    #2 Bordux, Jul 31, 2015
    Last edited: Jul 31, 2015
  3. margin

    margin Private, 1st Class

    Joined:
    Jul 11, 2015
    Messages:
    53
    Likes Received:
    3
    How much good you can get in managing your funds? For example if you have a buy on EU at 1.2000 how long can you hold it if you haven't use any SL? The answer is simple, don't trade without SL.
     
  4. nahiyar

    nahiyar Private, 1st Class

    Joined:
    Jul 30, 2011
    Messages:
    694
    Likes Received:
    35
    You can trade even without stop loss , For i t you need to be more conscious and active mind. Any market move can change your results. With high targets it is advised to use stop loss because you wait for market rise and forget the reversal of movement.
     
    1 person likes this.
  5. hitfx

    hitfx Corporal

    Joined:
    Aug 2, 2015
    Messages:
    164
    Likes Received:
    6
    Going without stop loss required deep understanding of market and years of experience. We use SL when we are uncertain of market movement but an experienced trader will know that market will return to normal and can hold positions without using SL
     
  6. Ty_jowe

    Ty_jowe Recruit

    Joined:
    Jul 29, 2015
    Messages:
    6
    Likes Received:
    0
    Stop loss is used by many and even experienced traders. Someone do not use that all, but why? That is personal I think or the way to show how cool you are.
     
  7. Bordux

    Bordux Recruit

    Joined:
    Apr 30, 2015
    Messages:
    45
    Likes Received:
    7
    Honestly, I've never seen an experienced trader with years of experience not use a stop loss; most of them preach that you should never expose yourself to the market without one.
     
  8. arigoldman

    arigoldman Recruit

    Joined:
    Oct 2, 2014
    Messages:
    169
    Likes Received:
    19
    Why wouldn't you use a Stop Loss?
     
  9. Froso@FXNET

    Froso@FXNET FxNet.com Representative

    Joined:
    Nov 22, 2013
    Messages:
    395
    Likes Received:
    11
    I've trade not use stop loss and when price move againts my position i just hope and hope the price will reversal movement to my position again . but almost of times its not happen , eventually my account get stop out . So from that if trade not use stop loss , sooner or later have high possibility to get stop out
     
  10. Whitesnake

    Whitesnake Corporal

    Joined:
    May 9, 2013
    Messages:
    428
    Likes Received:
    30
    The only way of trading in the forex market without the use of stop loss being places and there is requirement of good account management as well, keeping all these things mind, one can actually set a mental stop loss for which the person needs to be monitoring the trade such that when they reach certain loss level they may close the trade.
     

Share This Page