This is an example of my new style of trading , has shown good profits, no losses yet. All winning trades
This was put on today . No stops , sold 2 AUD/USD @ 1.04181 being as close the top as i could get.
Yep, just wait till it shows sign of bottoming out, or anywhere along the way i feel tempted to take a profit.
No stops is somewhat reckless…
Not really, the simpler the trade the better.
So you say. We’re all just one trade away from humility.
I have not asked for money nor am i selling any anything. Yet people on this forum are attacking me for not using conventional trading methods that were designed to make brokers rich.
Look out your window , you will see the Earth is not flat.
No one is attacking you, he’s simply stating the fact that trading without a stop loss IS somewhat reckless. If the market turned against you while you’re in a trade, what is your plan?
I reckon it’s more reckless throwing away good money with stops.
Something very fundamental about trading is you need to learn to accept losses. There is no way around that. I think everyone would agree they would rather lose 50 pips than 500 pips which will almost definitely happen if you never set a stop loss. That’s why using a stop is conventional; it saves you money by letting you lose less.
wow dude!!! Calm down, just wait for the losing season. Real traders don’t care about their winning rates, but instead they care more that winers ar bigger and losers are smaller.
Not placing a stop loss isn’t unconventional - plenty of traders (usually novice) do this without realising the danger it poses. If your trade goes against you your broker will close the trade automatically when your account equity reaches zero, so you [I]do [/I]have a stop loss, like it or not, when your account gets wiped out.
With no risk management in place, you have no way of controlling risk. Your account [I]will [/I]get wiped out, it’s only a matter of time.
I’m not attacking you. You posted your strategy to get feedback and several members here have taken the time to warn you of a serious weakness in that strategy.