luistercer0:
You are right in no trusting anybody and yes, this has something of carry trade so you are welcome on board.
yunny1:
You are free to think what you want, and I will NOT, I repeat, NOT use any stop loss. Sorry that you are afraid about that.
zeuhl50:
you are 100% correct and it’s exactly what I do: I trade small = low leverage = no need for stop loss.
By the way, I think that no EA is needed but if you want to build one is up to you.
Thanks for posting,
Regards
[B]Weekly account update.[/B]
Here is my account status for the week. Have a nice week-end !
Current order history :
05-10-2012 Bought 0.01 audjpy @ 80.000 STILL OPEN
04-10-2012 Bought 0.01 audjpy @ 80.000 Closed 04-10-2012 @ 80.100
25-09-2012 Bought 0.01 audjpy @ 81.000 STILL OPEN
Balance: 106.22, Equity:97.34, Free Margin/Balance: 89.4%
I am afraid of nothing… you can do whatever you want… is your money, I posted here just to warn newbies that this kind of strategy is a proven losing one in the long run. 
How about a myfxbook account?
I agree with you that nobody apart me should risk any money on this.
Now, everyone has been warned and I have to thank you for that.
Telling that this will be a losing one in the long run could be true so, don’t spend more time here and let me run to my sure failure.
Regards.
Your welcome :54:
I have already responded to this, so please, everyone, read back posts before posting your questions.
And like me, you know what the bankers say… Past performance does not guarantee future results.
someone did it for me but elsewhere. cannot do publicity for another forum.
Yes, it would be nice to just set and forget. I have tried a similar approach a while ago. For me, I don’t like to stay in the trade more than a few hours. I just hate to to see drawdown with my small account. Just my newbie opinion…
Drawdown is not a problem if your margin used (and of course your leverage) is very low.
I was interesting when I´ve read point N°1 “No indicators” I thought you were starting with the right foot, price action I mean but when I’ve read point N°2 “No SL” I stoped reading, I really don’t care the res of your post, it is simply BS. Sorry, read forum rules, NO PERFECT TRADERS ALLOWED.
I tried this some time ago, oh pain, painful pain, the low interes rate does not cover the down swings and you still need to protect your account. Remeber that RBA is progresively cutting down interest rates and the pair will shorten in the near future. I ended up with almost no money in my account because a flooding in Australia followed by an earthquake in New Zeland.
Do a google search with this:
100$ trading Some backtests with this strategy
If you are easily offended trading is not for you. Sorry. I don’t care if you care or not my opinion but you are promoting wreckless behavior wich is bad in trading. And I am going to tell you sare a lot of pain and protect your capital, trust me, you mkust be humble with the market or market will humble you. I was just like you quite not to long ago, oh pain, painful pain. Don’t say afterwards that nobody told you.
hi all, i don’t understand why everyone get so emotional, yes he said no stop loss strategy but if you read carefully actually it is only on the opening of the trade then when it moves in his favor he used a stoploss. also the “other forum” is refering too with backtesting, the guy actually used a 40pips trailing stopn so in most of the case a stop loss is there…
Guillaume,
You are right but in our case we don’t stop the losses, we lock in the gains and if possible we follow the trend with the trailing stops. Maybe I didn’t clearly stated it on my first post.
Thank you for bringing us a little light…
Regards.
I think it’s also important to point out that in the first post the OP was stating the trading system HE is using. He has not stated anywhere that anyone should be following what he is doing or risking their own money. He has stated several times throughout these posts that traders are welcome to watch what he is doing to see results, but don’t risk your own money to follow him if you do no feel comfortable.
I do also understand that the other master contributors are worried that new traders might see this and think that a no-stop-loss trading system is a good idea.
Broketrader, maybe edit the original post and state if you wish to follow this system please use a demo account, or something to that effect?
Done, and written in bold.
Thanks for your contribution,
Regards.
What edge does the non-SLs point gives you ? I can understand that you’re worried about the broker spying them but I think you don’t understand how a broker really think.
Let’s imagine a broker know you have a SL for a microlot trade. What will happen if this SL is touch ? You’ll instantly sell what you bought. It will make the market move down and the broker will be able to take profit from the influence you had on the market. That’s nearly nothing for a microtrade.
So why does anybody tell the broker have an edge here ? Simply because everyone are putting their stoplosses in the same spot. When many people have the same stoploss, it becomes profitable to take the profit from the influence of them all on the market - AND the broker are more likely to influence the market themself to push it through the stoploss (so they take a risk by putting money here, even if it is a small one), but I don’t think they would do that for a simple single microtrade.
Using no SL is equal to put a stoploss at the point where your margin is hitten, so I don’t understand why not put a higher stoploss at a place where the broker can’t easily take profit from it, especialy when leverage is used (on non-leverage system, using no SL is equal to put one at the failure of the system/company).
I’ve only traded for 2 weeks so may be it’s me that hadn’t understood something.
By the way, sorry for the bad english.
nuKs,
It’s not a question of edge or not, It’s just a question of having your mind free and sleep well overnight because you know that your stop loss will not be hit just before the price reverses. Off course, for that, you have also to have enough margin reserve, to not get a margin call overnight.
Anyway, taking losses, is just not part of this strategy ! This is what it’s all about.
Although, your view is right, I don’t understand why so many people are so sanguine with stop losses. Please anyone, understand, that stop loss orders are used here only to take profits and NEVER to confirm losses. From my side I understand that this is an opposite and not conventional view of what “should” be done, namely “stop your losses and let your profits run”.
I know the rules of conventional trading, I tried dozens of 99$ systems in the past and uncountable indicators on charts. I’m not a guru, I’m just doing something uncommon to almost all traders and sharing the experiment, So please, if this strategy don’t suit’s your trading feelings, rules, continue your path and don’t lose your time here trying to convince me to put those stop losses or modify the strategy.
Please, understand that I’m telling you that in a friendly manner and that in any way I would like to offend you or anyone.
With all my respect, and your English is as good as mine if not better.
Regards.