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Thread: trade with out loss stop

  1. #1
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    Default trade with out loss stop

    Hi Traders,

    I have been trading over 3 years now, and I trade with no stop loss.
    I want to share this with you all, as this is my first time to ever put up a thread.

    This is the way I trade
    No indicaters at all
    No fundamental at all

    Does not matter which way you go long or short.

    But try and go on the daily trend of daily charts.

    and pick a currency that has nice swings like GPB/USD

    Example:
    I enter a buy trade one lot.
    lets say I am at loss now 100 pips - so the price went down
    I buy another buy lot, that way I have lowered my price to caputer it to exit with no loss or even.

    Lets say that does not work I wait another 100 pips and buy another untill it comes my way and I am out.

    I will tell you why I wait 100 pips and get one more lot as it gets you 50 pips closer to the exit price.

    with a currency like GPB/USD at least will do up 50 pips in a down trend.
    so you do have a chance to make money or even out. so no stop loss needed, JUST MORE MONEY NEEDED.

    I am not very good in my writting so if you not understand I will reply back and happy to discuss, so please everyone leave your feedback and your opinions.
    Happy trading everyone - from donkeyfx
    Reply With Quote

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    Default

    3 years without "stop loss"!!!
    really hard to beleive it

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    Default

    Without SL?
    WHY?
    I think that it is not the best idea,
    One bad trade and...
    better is really big SL or hedging...

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    Bullish soumyakhatri's Avatar
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    Default

    This is my first post on this forum, so I here it goes. I've been learning forex for about 8 months, and I've been trading live for about the last three months now, mainly with small amounts (mini-lots, or less sometimes).

    What I have found is that trading with real money helps me to learn a LOT FASTER! One of my mentors in this business is constantly telling me that "if losses it don't sting a little bit, you don't learn anything." Its not that you don't learn by studying while demo trading, because I did, but I have learned more this past 3 months trading with real money, than the first five months when I was demo trading.

    Sometimes I learn by "seeing the light," but it seems with forex, most of the time I have to "feel the heat." That's my two cents....
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    Default

    Quote Originally Posted by the ikoder View Post
    Hi Traders,

    I have been trading over 3 years now, and I trade with no stop loss.
    I want to share this with you all, as this is my first time to ever put up a thread.

    This is the way I trade
    No indicaters at all
    No fundamental at all

    Does not matter which way you go long or short.

    But try and go on the daily trend of daily charts.

    and pick a currency that has nice swings like GPB/USD

    Example:
    I enter a buy trade one lot.
    lets say I am at loss now 100 pips - so the price went down
    I buy another buy lot, that way I have lowered my price to caputer it to exit with no loss or even.

    Lets say that does not work I wait another 100 pips and buy another untill it comes my way and I am out.

    I will tell you why I wait 100 pips and get one more lot as it gets you 50 pips closer to the exit price.

    with a currency like GPB/USD at least will do up 50 pips in a down trend.
    so you do have a chance to make money or even out. so no stop loss needed, JUST MORE MONEY NEEDED.

    I am not very good in my writting so if you not understand I will reply back and happy to discuss, so please everyone leave your feedback and your opinions.
    Happy trading everyone - from donkeyfx
    Reply With Quote


    Person who don't use technical indicators and fundamental are people who trading by pivot points.

    I seen one video online where the Forex trader was giving his tip on how he trade in foreign exchange using pivot points method.

    If successfully done right, you could score about 6 out of 10 trade (60% chance of profit).

    This is my guess.

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    Default

    maybe this is a good meathod,but there is a big danger!

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    Elder Analyst elsehaimy's Avatar
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    Default

    without stop lose , you will be destroyed in few minutes .

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    Default

    if the tendency is strong,the method will be to lose effectiveness

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    Default

    i dont really recommend this idea as a sicientific method of trading... it might work for you once or twice but once it can go all wrong and the effects could be catastrophic so much so that one gets knocked out of forex market all together.. so beware!

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    Default

    the reason casino's have a limit on roulette is to stop a similar system, in roulette if you play red/black (in forex sell/buy) and start with a 5 dollar bet, if you win great, if you lose you double your bet to 10 dollars, if you win you recover the original bet plus you win what you would have won on the first bet. get it? the longest one color roll i ever saw was 9, (eg 5+10+20+40+80+160+320+640+1280=$2555) thats a lot of cash to make a $5

    if you were to apply that to this situation you could reduce the amount of necessary pips to cover the original order

    this system is proven mathematically, but you have got to have a whole heap of cash in reserve & balls of steel because... well you all know how this market goes!
    Psymon Peers

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    Bullish fxtrader77's Avatar
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    Default

    i understand every word you said
    and this is not a system it is gambling forex is not rollet

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    @ fxtrader77

    I agree with you completely, this is not a very strong foundation to be trading from, i come from a gambling back ground, where you have much less information to take advantage of, and to use a system like this seems like a huge waste of the resources that are available to traders.

    and if nothing else you got a free tip on how to play roulette! :P
    Psymon Peers

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    Market Maker ilearn2t's Avatar
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    Default

    Quote Originally Posted by the ikoder View Post
    Hi Traders,

    I have been trading over 3 years now, and I trade with no stop loss.
    I want to share this with you all, as this is my first time to ever put up a thread.

    This is the way I trade
    No indicaters at all
    No fundamental at all

    Does not matter which way you go long or short.

    But try and go on the daily trend of daily charts.

    and pick a currency that has nice swings like GPB/USD
    I personally wouldn't advice this method of trading, but it does consider a little more thought before dismissal.

    I would like to know what profit you close your winning orders at.

    I done a quick test using my sell-stop EA but placed the stop-loss at 50000 acting as trading without a stop-loss and set my opening margin at 10 points with a trailingstop set at 15 points.

    Here's the finding from 30/10/2008 same pair GBP/USD

    Initial deposit 10000.00
    Total net profit 1908.97
    Gross profit 1908.97
    Gross loss 0.00
    Profit factor
    Expected payoff 21.45
    Absolute drawdown 43.00
    Maximal drawdown 607.31 (5.71%)
    Relative drawdown 5.71% (607.31)
    Total trades 89
    Short positions (won %) 89 (100.00%)
    Long positions (won %) 0 (0.00%)
    Profit trades (% of total) 89 (100.00%)
    Loss trades (% of total) 0 (0.00%)
    Largest
    profit trade 59.00
    loss trade 0.00
    Average
    profit trade 21.45
    loss trade 0.00
    Maximum
    consecutive wins (profit in money) 89 (1908.97)
    consecutive losses (loss in money) 0 (0.00)
    Maximal
    consecutive profit (count of wins) 1908.97 (89)
    consecutive loss (count of losses) 0.00 (0)
    Average
    consecutive wins 89
    consecutive losses 0


    Not bad using my EA

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    what should be the initial deposit to trade with no SL (pair GBP/USD)? and how much of it should go to trade?

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    Market Maker ilearn2t's Avatar
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    The test above was done on a 100:1 leverage, 0.10 volume.

    I run it again using a $500 deposit and get the same results.

    But remember using no S/L is not recommended.

    The first order opened at 1.6558
    The last order opened at 1.3457

    That's a drop of 3101 points, if it was tested on a buy-stop order wonder what the outcome would be. Big LOSS

    Just checked the GBP/USD current price showing 1.4570 that would mean my open order would be running at a loss of 1113 points or roughly $1,113
    Last edited by ilearn2t; 02-10-2009 at 04:40 PM.

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