Trading Without Using a Stop Loss? Here's How This UK Trader Does It. Profitably!

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#21

@zrrsys I was trying to get a summary similar to the one you have here from my mt4 account but when I right click on account history I get only 3 options, New Order, Minimize or Restore, and Close. It says nothing about saving or printing. Can anyone reading this share with me another method of getting that summary?

Incidentally For the month so far I have 191 trades with the ONLY loss being that one for 40 cents where I clicked on a button in error during that oil trade. 135 straight wins. So those people who tell me that a strategy that employs not using any stop loss in a trade is bound to fail are probably nowhere near as bright as they believe. Because you cant do it doesnt mean another person cant.
This screenshot is a continuation of the one I have up above. And like I said…dont try this at home!!!

More Proof
More Proof1366×768 366 KB

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#22

you have to select one of the entry then right click

#23

Thank you zrrsys

Just a few disclaimers.
I am currently in 3 trades and I had brought over a small balance from the previous month as well as depositing $200 this month. This summary is for the period August 1st up until today August 18. Not sure how it compares to the summary of zrrsys above but I guess you people will let me know. What is uncanny is we have almost the same number of trades. Only differs by one, interesting. I think I might have more consecutive wins though.

august 18, 2022 trading summary
august 18, 2022 trading summary1366×768 185 KB

#24

you have the number of sell short is half the number of buy trades
I do not think you are using the hedge grid system
but some other version
maybe you could make a post explaining the strategy , that will be interesting
but mine has the number of sell short equals the number of buy trades

#25

Hello, THE_GOATE.

I am in UTC-7 time zone and it seems you are in UTC-5 zone? I am intrigued by your results.

NEVER MIND. I JUST CHECKED YOUR PROFILE.

Thank you.

#26

sorry to say this
if you are trading manual that is a lot of time spend trading for small return
you need consistency like number of sell short equal number of buys
with good ROI with less effort

#27

Thank you for the “kind words” but everyone in the world will not be able to walk, talk, dress or trade like you my friend. My ONLY concern is to win each trade I take. Full stop. Dont worry yourself about the work involved and the small ROI, lol, let me worry about that but thanks for the advice anyway.
I am still working on this particular strategy but when I get it right I should be able to make $50 per day while only doing 10-60 minutes on the computer.
And yes I trade manually so I have no clue about whatever system you mentioned earlier.

Just to clarify…I dont sit at the computer for any long spell as you guys seem to think. I simply enter my positions and go about my business. Whenever I check and they have connected I put in one more.

Plus those 3 trades I was in when I took the screenshot of the summary have now all connected so that is three more wins to the lot. I cant be bothered to count anymore.

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#28

Why would I need that? If I enter a million long positions and no shorts but I win them all what can be wrong with that? And wouldnt that be even MORE consistency? I seemed to have missed the memo that real trading involved equal amounts of buys and sells? lol.

#29

I get that a lot. Am not sure if these days people mean it in a good or bad way but thanks anyway. Just trying to scalp a couple cents at a time until my balance gets to the point where I can scale up and do some real damage.

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#30

welcome onboard!

#31

Thank you for your time. Thanks for providing this information.

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#32

Thanks for sharing this information with us :slight_smile:

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#33

I was intrigued by the result, so I chose one buy trade for usdjpy that was initiated @ 10:12:20 am on 08/17/22, to understand THE_GOATE’s strategy.

The entry (“buy”) price was 134.531. I assume this was UTC-5 time, per location found in his profile. The exit(“sell”) was @ 10:14:16 on 08/17/22 for 134.560 and the profit was 1.08. (134.560 – 134.531 =+2.9 pips. Since 0.05 lot was involved, and 1 pip is $7.30 for 1 std lot, $0.73 for 0.1 std lot, and $0.37 for 0.05 std lot. So, $0.37/pip x 2.9 pip = $1.08)

Since I am in UTC-7 time zone, I had to subtract 2 hours, so I searched “my” usdjpy chart for 08:12 am area on 08/17/22. My chart’s data says around 08:12 am, usdjpy was hovering around $135.497 and 2 min later, when the trade was closed, it was $135.465. The price went down. Huh?

Two strange things. One, the price was $1 more in my chart, and two, the price was actually going down. I checked my chart again and again, to make sure I am looking at 08/17/22, around 8 am.

Well, I have to assume the discrepancy is due to forex market being “de-centralized”? In other words, since most likely two different brokers are used, and the price quoted from my broker is different from his broker. But $1 difference and increasing vs decreasing? I guess there is NO problem as long as everybody makes moolah from trading forex. :grin:

#34

I noticed you’ve “assumed” a couple of times there. Another possibility is that the info I posted is all fake and photoshopped, lol.
On a serious note though I found the analysis you did interesting and there actually is something in there that I think I can use to improve my trading so thanks. And no, you’re not the first on here to attempt to deconstruct one of my postings.
I’m not sure as to the cause of the discrepancies you mentioned. Just thinking off the top of my head perhaps if you went back to the chart and instead of candles worked with a line diagram it might help you sync and sort out the time zone issue.
As to your theory about the usage of different brokers accounting for the deviation take a look at the thread on here entitled “Pepperstone Anomoly” and tell me what you would be saying If I had put in a sell at the top of the candle involved on Pepperstone. That thing is a big part of why I dont use a stop loss when I trade.

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#35

Hey guys! This thread’s sposed to be all about me!! Look at me!:man_dancing:

4 Likes
#36

:woman_cartwheeling:I can do this :person_fencing:

3 Likes
#37

good luck my man!

#38

Yo Goate, I have discovered on the Oanda Demo that stop loss or trailing stop Loss seem to be a waste of time and energy. That a take profit is all I need and two keep open buy and sell tickets. Went from 85 play dollars to 100 play dollars in two hours time. And you are right, during the course of the trade I spent a lot of time in the red, but when the trade ends I am in the black. Oanda uses Units I guess to determine leverage, 3500 units = .25 cents a pip. It is not, get rich quick, but it can add up over time.

#39

These days I no longer try to convince anybody about anything because the fact of the matter is that if I gave everyone who liked this post US$10.00 there will be people who find something to criticize, lol. What I want to leave you (and all those reading this) with is this…“There are none so blind as those who will not see”

#40

Thank you for sharing your story!