When we can trade without stop loss?

[Eryk Martin]

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.

Yes mental stop loss is really a good thing to highlight, also, one should maintain enough margin in this case.

 

[sarah2701]

Forex market is totally random anything can happen in it at any time so as a trader with limited capital we should always always trade with a stop loss.

Exactly, we can not predict what can happen in forex therefore it is very risky to trade without stop loss, and if you even want to trade without stop loss then always remain in front of your system so that you can have a continuous check on your trade.

 

[bigdolly]

You can trade without stop loss when you feel you have good control over your trading and can close a position manually or when you trade with small leverage and price going heavily against you doesn't inflict critical losses.

 

[Kirstysingy]

I would say it’s important to have one as when you enter a trade without one you are potentially putting all your balance forward and could lose it all. There will always be another trade to make that back and losses are all part of the learning.

 

[Amina El Mehdi]

I would say it’s important to have one as when you enter a trade without one you are potentially putting all your balance forward and could lose it all. There will always be another trade to make that back and losses are all part of the learning.

Absolutely. And after all you can`t win them all.

 

[TheNewbieTrader]

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?

I always use SL regardless - that's my cut off point and designated risk %

 

[JoJozil]

You can trade without stop loss when you feel you have good control over your trading and can close a position manually or when you trade with small leverage and price going heavily against you doesn't inflict critical losses.

I'm personally convinced that it's unwise to trade without stop-loss especially when you decide to trade with leverage (no matter small or high). SL can help every trader, whether a novice or a professional one, to properly manage their risks. I think that every trader have to know the benefits ot sl and tp mainly because it really ease their acitivity. Nevetheless, I don't recommend to use leverage at all because it's a deposit dumping (even with SL). Leverage increases profits, but also increases risks as well. And when you lose money with leverage uyou have to make a double profit. I'm sure that novices would better not to touch leverage at all.

 

[Centrirdana]

There are various points of view on this matter. Basically, there are some professional traders who actively use SL, but also there are some who don't. For example, if you buy a 50$ and set a SL order on 47.5$ it restricts your loss to 5%. However, in a fast moving market where prices change rapidly, the price at which you sell can differ from your stop price. There is a common issue with SL, it's a transparency of SL. Some traders like running the stops when the price is low enougg and trigger a mass of SL orders. After the instrument is sold at a popular SL price, it reverses direction and rallies.

 

[Akimuro]

You can trade without stop loss whenever you want to trade without it actually. Such instruments like stop loss and take profit serve you as a real airbag while you're trading. TP is always used to restrict the possible profit (one can say that it's bad, however it's really useful thing when you're not fond of taking too much risks). SL is used when you want to restrict your possible losses, it really matters. Otherwise, if you are a dicey person and ready for everything in order to gain more profit, then you are able not to use them at all. Of course, as you said, it's a defense for your funds.

 

[sarah2701]

Yes mental stop loss is really a good thing to highlight, also, one should maintain enough margin in this case.

exactly don't get married with your trades. if you opened a position you need to close it do not greed for more money always.