Is It ok trading without stop loss in RSI strategy
A technique you can use is the RSI as a Stop Loss as demonstrated in the thread linked below.
Substitute the CCI Indicator (100 / -100) with the RSI Indicator (70 / 30) and the strategy works the same.
Have a read of the thread, see what you think…
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Generally, it’s not okay! Then you need to open your charts when your trades are running. By the way, I use the SL tool so willingly.
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nice easy question, here - no, it isn’t ok
not with an RSI strategy and not with any other strategy, either
it’s incredibly risky and completely unnecessary
there’s no downside at all to entering some kind of stop-loss, even if it’s only a “disaster-stop” automatically with every trade you open
whenever you open a trade, there must be a potential price development against you which signifies that your entry turned out to be a bad one, and that you don’t want to be in the trade any more?
that’s where you’d want to take your loss, so put your stop-loss at that level, and never trade without one
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No. Not unless you’re okay with losing your entire account in one go.
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Well said! if you are not using stop loss then it could be highly risky for you and doesn’t matter which strategy you are using.
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Ahhhh Yes… I’m pretty sure most of you didn’t even bother to read or understand how that strategy works… before commenting.
The usual modus operandi from a select few posters here on Babypips…
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