Hi. has anyone tried entering a trade whether it’s a buy or sell, you just click buy or sell w/o entering T/P nor S/L and just waiting for the trend to go with what you chose? If yes, have you tried closing the trade? well I tried to close a trade after having a profit but haven’t tried it with a loss, I’m scared it might get deducted as well. Has anyone here tried that before? I know something aint right bout this but I am still exploring tho
ya i have done it quite a number of times and usually while i am in a mood to try scalping.
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without using Stop Loss your trading condition can be as like a ship in a deep ocean without a rudder.
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i am a scalper so never use tp and sl but of course if you are a long time trader , have to make sure how to use TP and SL. otherwise the result of trading could be dangerous.
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ow I see. thank you for this!
thank you! I thought so, I’ll try to explore it more
I see your point. thank you so much
I’ve never been able to get the hang of this.
I have checked that I am allowed to be both long and short in the same market using my account so I would really appreciate some practical tips from experience.
Surely when you run opposing positions opened almost simultaneously, you make almost no profit - until you close the loser. How do you decide when is the right time to do this?
Of course, as soon as you have closed the losing position, your winning position is now unhedged and has no SL - how do you make sure it does not turn round and bite you?
I can’t think of trading without stop loss. I never trade without stop loss as it helps me to control my risk.
Stop Loss keeps my account secure. I never try to trade without stop loss. Stop Loss should be used to maintain money management and risk management.
I personally don’t think that trading without sl and tp can somehow be useful especially for novices, you know. These two options are the best way to minimize risks despite the fact that tp also decreases your possible income. You can try to trade without tp and using only sl. SL is a must have for everyone because traders from time to time suppose that they’re like a god and can do everything and always will be in profit, hence they neglect sl and make lots of mistakes. If you want to avoid such mistakes you have to use sl permanently. TP is a good option to and it is being used mainly for complying with risk management practices whih every trader creates for himsel/herself, you know.
I think T/P S/L are one of the tools you need to stick to it in order to avoid bigger surprises