How i wish that, i could have such strong faith like you, that eventually all the red will definitely turn out to be Green. Anyway, i think your style suits you well. Keep on sharpening the sword. Just a word of caution. Don’t forget about Bankroll management.
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part of keeping the DD low is first the correct direction on the trade, and at a good entry point, while the entries really dont matter except in relation to the exits, the better your entry is the easier it will be to exit for a profit. forget playing in the middle then and convert to long term Supply and demand trading. Decide on your max risk per trade and give it a go, i’ll show you if you want. Ill even give you some entries, I’ll explain it the first time, but then you need to figure out the loss stops and profit stops. . but pick a few pairs you like to trade and feel most stress free and most confident trading, I’ll send a few sniper shots your way, I can do the sniper thing, but the waiting and watching is trecherous!
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I do trade without stop loss. It is possible only if you are yourself a stop loss. You have to control the trade live.
I have been trading for over a year live with no stops, averaging in on increments using micro lots…took over a year of paper trading to get this strategy perfected…rram2 your the shit my friend…first one I have seen that get’s it…STOPS ARE A TRADERS WORST NIGHTMARE…eating you from the inside out…little bit by little bit…right in front of your own face…buuuaaahhahaha…
seriously though…remove those stops people and see what can happen… you will be quite surprised at the possibilities. 
Start in a demo account
https://www.myfxbook.com/portfolio/linked-capital-management/2224910
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Talk of stop-losses or no stop-losses is meaningless in isolation. The choice only makes sense when you take into account the style of trading you’re involved in. For most traders, using conventional styles of trading, adding to losing positions doesn’t make any sense, there is no benefit from keeping open a losing trade and adding another and another and another.
rrram2’s style is quite opposite what most of us are doing, don’t assume you can simply keep your style, ditch the stop-losses like he has and start making a profit, it will take a much more radical approach than that. You need to do the work, you can’t just flip a switch from “stop-loss ON” to “stop-loss OFF” and go from losing to winning. I think the switch is beyond most traders (and me) but if you’re interested, I suspect a lot of help is going to be needed from this guy.
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Exactly… That’s why I posted a chart / strategy of how rrram2 trades his system…
Many of the Pseudo Gurus here that won’t post their own results don’t understand the amount of pips and percentages gained by this sort of strategy… Kudos to Elijah for displaying what can be achieved and how by using experience and logic as opposed to negativity and drivel…
It’s worth noting that the Dennis successfully trades his SW Currency strategy without stops also…
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I am pretty sure If a newbie use SL then be sure that most of the time it will go into your direction but first it will hit your SL… So use your SL a litte wide.
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Yes mate, absolutely! That’s the 1st rule! This is why, money management is too important issue in Forex.
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open a demo account and practice…do your due diligence before putting any money on the line…be responsible about it…it’s not rocket science…just takes time and discipline…ninjatrader’s market replay is a great tool for forward testing scale-in incremental levels.
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Its not bad advice thanks - its just that what rrram does is not for me.
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Exactly is it for me? FOE Relevant Facts: Relevant Options; Choose Least of the Evils; = a Good Decision
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A “Stop Loss” order is something that is mainly used by retail traders, and I don’t think they would be offered to us if someone ( Brokers, Market Makers) were not making a lot of many by our use of them. With that said you have to be smart about their use, here is an example of how retail traders make bad use of stops.
Here we have AUDUSD, with a nice stepping pattern lower, we just finished a step up and looked ready for the next move lower, so you go short on candle “a” with a stop loss just about 0.7300, then we get candle “b” price shoots higher during the day ( likely some news event) and hits your stop loss ( to the exact pip) before heading back lower taking you out of the trade at a loss and missing out on candle “c”
A better use of a stop in this example would place it above 0.7400 then in the case of candle “b” you would have stayed in the trade. If candle “b” had finished the day solid blue and above 0.7300 that would had nullified your trade idea and you could have manually exited the trade without waiting for your stop to be hit.
For my own trading I use mental stops , I but a red line on my chart and if the daily price closes Above/Below that red line then I will exit the trade, that way interday news events are not going to take me out of a trade. My risk is limited through position size
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Of course trading without a stop loss is doable, particularly for an experienced trader. If you don’t have a good strategy that you’ve been using for a few months, then trading without a stop is a great way to empty out your account.
All it will take is an unexpected spike in the market to wipe out all your earnings. I always set a 30 pip stop regardless of which time frame I’m trading.
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Great example, thank you for this. For newbies like me, doesn’t this just mean to use wider stops?
i hope you don’t trade from daily or weekly timeframes, then
to many people, it makes sense to relate “disaster stop-loss distances” (if that’s all you’re using) to an ATR multiple of the timeframe in which you’re trading
I trade off daily charts so I use wide stops, but each trade is different you can’t just put a blanket 30 or 100 pip stop on every trade. You have to place your stop where you are not taken out by the noise of the market. In some trades that 30 pips might work in other trades a 300 pip stop is needed
Here is a bonus tip
if you find your stop loss orders are being hit most of the time, try entering the trade on a limit order, with the limit set were you would have place our stop,
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Actually, I trade the Daily, 4 hour, 1 hour and 15 min charts I don’t hold my trades long term. Most of them close out the same day.
some times i trade without stop loss when i’m sure 80% my trading analysis was true.
Thanks to everyone who contributed their inputs on this topic. I’ve learned a lot. I understand that trading without stop loss is also doable to others depending on their trading strategies and experience. As a newbie, I would take the advice of the majority to use stop loss.
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While trading with out a stop loss is certainly done by many, that means you have unlimited risk to the size of the equity and more of your account.
Do you know and understand your risk tolerance?
Can you afford to blow up your account and the potial call?
The number one rule of trading is protect your capital.
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