Thanks miliardo, Ill sure look for the book, it seems interesting. as of now i think im in no condition to go through any kind of trade with out a stop lose, for serveral obvious reasons, I am still lacking in different aspects of knowledge and I dont wana go through an agonizing regred spree for blowing an account if it goes against me 
Obviously, market makers, specialists and professional traders know that the stops are sitting there and many times they are gunning for them."
I quit using stop loss orders that year and my trading has improved as a result. I still use āstopsā but they are mental stops based on the closing price, not the intra day high or low.
This strategy is working very well for me.
By not having a stop, your trade has time to breathe so, there is nothing to execute. I still believe you need them in order to protect against the ultimate price move in the intraday or you could certainly loose a lot more, a good idea may ne to have a stop at the previous dayās high and have your mental stop while you trade intraday.
That way everyone is fairly safe. Remember the market is not chasing your small orders, when Options traders and futures traders have orders sitting all over the market, those orders are certainly more juicy. $4tn is still institutional trades, only a mere couple of billion is retail.
Happy trading!
The challenge of not having a stop loss is the decision making process. A stop loss can sometime save you form emotional decision making and consequently losses. Personally, I only chose not to use a stop loss when I have a specific bias on a trade. Like for instance, I would confidently trade any long the USD against any other instrument without a stop loss. I do not fancy any currency mounting a serious challenge against the USD that could result in impactful losses at the moment. But you never knowā¦ Happy Trading!
I donāt use a stop loss when I trade. Since I made this decision I have been profitable. I read a lot on here and other forums where traders talk about not using a stop loss as a crime to trading, itās just unproductive to be so opinionated. Using them has as much merit as not, it depends entirely on your overall strategy, your experience of the currencies youāre trading and a million other things. I personally developed a system without them as it gave me a psychological edge and comfort when trading, this added confidence has helped me grow profitable. Just because I donāt use a stop loss doesnāt mean I would just let my positions run into the ground when they go against me, I reduce position sizes, hedge and many other things. It is not simply whether or not you use stop losses that will make you a good trader it is everything else you do to support that decision. If a new trader went into the market blind, paid no attention to fundamentals or statistics and just opened a position long or short, a complete punt, I would absolutely advocate using a stop loss, if however you are trading that way you may as well head to a roulette table.
Good luck to everyone using them or not, if it works for you and makes you money great!
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I prefer to trade without proper stops and tps and set market exections sounds stupid but it prevents brokers knowing what your doing and tapping you out. Its trading on the edge but it feels like freedom and its prevented me from getting tapped out and letting my profits run. Its not for noobs and would not suggest it until your confident enough. but i remember this one time i had a sell then all of a sudden price shot up 20pips on eu and past my sl then i held my breath and as quickly as it went up it shot down 55pips when my tp would of had me out at 15pips. But everyone can find a example to validate the point. This was a clear broker stop hunt to liquidate the market to sell from a better price and then pushed down. And this was pepperstone.
Its nerve racking but its has alot of pros if you can handle it. not for the faint hearted but neither is being a fx trader.
'best
darth
I do trade with SL but with no TP. Opposite as small TP and no SL locig wich is used by the losers.
I agree with 4xnewguy about SL . I only use stops when Iām not hovering over my computer. I will never use them when Iām trading in front of it though. The trade has breathing room. the day I stopped using Stops was the day I became consistentā¦
There are stops on every pip on the chart, dont kid yourself that professionals are spending their time trying to close you out
Not using a stop loss is absolute madness, especially when trading leveraged instruments like forex. Anyway, a margin call behaves as a stop loss, so whether you like it or not, you are ALWAYS trading with a stop loss, courtesy of your broker.
I am gunning your stops!
-Adrian
I take that you are obviously very confident in your picks then because this indicates that you always have a bias for every trade that you open. Personally, I occasionally use both, but most of my trades are on currencies I know well.
It is okay to trade with or without Stop Loss because every strategy has its own advantage and disadvantage so traders need to know good and bad point when youāre using it or not. Using Stop Loss can limit loss but it is possible to limit loss when you donāt use Stop Loss. It is possible to use another risk management like hedging or locking strategy, averaging, or martiangle. But each risk management has good and bad point, itās back to traderās decision how to use it.
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i scalp and my sl is my finger. :57:
'best
It is good if you can control your emotion well because it is not easy to cut loss personally especially if youāre using scalping method which need to cut profit or cut loss quickly. It is possible to be effective way to limit loss when youāre expert trader but it will be harmful if youāre still newbie in forex market. Using Stop Loss will be safer to limit maximum loss which could happen in each transaction.
Trading with stop loss is good for new ones specially,they can avoid emotions during trading. But SL is not the essential part of trading . I do trading without it many times . I have to remain more conscious and active , monitor my open positions to close them in time.
I donāt think if Stop Loss is used by newbie traders only because there are expert traders who still used it. But not all traders are better to use stop loss either, some scalpers are using no stop loss at all too but they should cut loss or cut profit quickly. So, the problem is not newbie or expert trader but itās about style of trading for traders to use stop loss or not.
My first few deposits went down because of the same psychology
Good thinking! to add to your point I suggest avging 
ā¦ when you enter a position and you know what you have a good idea of the outcome it is good to avg instead of having SL (naturaly it is with high leverage and small time frames !)
If you think like all the traders you end up like them ( 95%+ lose)
The problem is not using Stop Loss or not because traders can suffer big loss when they didnāt use stop loss but traders can suffer loss many times and it ended up with big loss when it has been accumulated when they used Stop Loss too. So, the problem is how to place stop loss correctly (in the right price) when you used stop loss and using another risk management strategy when you donāt use stop loss.