When we can trade without stop loss?

[dianajs]

While the stop loss can protect your account from a single big loss it can also drain it through multiple small losses if you don't know how to place it properly and if you don't learn from your mistakes after the first few times. Stop loss can be a double-edged knife and it should be used carefully.

 

[downtrend]

When you are at least among top 10 richest people in the world.

 

[Pharaoh]

While the stop loss can protect your account from a single big loss it can also drain it through multiple small losses if you don't know how to place it properly and if you don't learn from your mistakes after the first few times. Stop loss can be a double-edged knife and it should be used carefully.

I'd rather make the mistake of having my stops too tight and suffer many small losses. That gives me a chance to look at what happened and try to correct my errors while most of my account is still intact. If I'm wiped out by one big loss, that doesn't teach me anything other than that I need a SL somewhere.

 

[dianajs]

I'd rather make the mistake of having my stops too tight and suffer many small losses. That gives me a chance to look at what happened and try to correct my errors while most of my account is still intact. If I'm wiped out by one big loss, that doesn't teach me anything other than that I need a SL somewhere.

I agree. That mistake can become a problem when one doesn't learn from it and they repeat it over and over though.

 

[carnelian]

You should not trade without stop loss at any time. Its because by doing this you whole account will be open to the market and you can lose your entire investment even on one trade.

 

[dianajs]

Generally speaking, one shouldn't risk the kind of percentage of their account that said account gets wiped if they make a single mistake, with or without stop loss.

 

[downtrend]

A trader only trades without stop loss when he is expecting the market to act like his thinking, which is impossible on every trade. So stop trading in this fashion and trade with stop loss.

 

[dianajs]

Even when one is sure in their analysis there are reasons to use stop loss - the possibility of simple technical issues is one of them,

 

[downtrend]

Even when one is sure in their analysis there are reasons to use stop loss - the possibility of simple technical issues is one of them,

I agree with you, stop loss is a protective cosion to our account, so we have to use it in our every single trade.

 

[faysal13]

Stop Loss trading tool is obvious for me; I willingly use this useful trading tool because of my capital security! But I am also interested on trailing stop, when I make enough profit in a trade then take off my SL and start to use trailing stop trading tool, I basically do this during high voltage news time!