I’ve been trading for 11 months ( scalping) with no s/l my net result is much better than the previous two years with conventional s/l approach. Yes there are drawdowns, swap fees etc but the net result is positive. A few trades take the wrong turn but eventually they swing back into profit. When I was trading in conventional manner most trades went wrong way and took out s/l. I have had one margin call in 11 months and it was easily managed.
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@samewise The forex market is more than 6 trillion$ traded everyday, don’t think ‘they’ are after your stop. Stop being paranoid 
I know, sometimes it seems like that.
I’m in your corner. Brilliant, glad to see you’re not being one of the mindless sheep. Do have a look at the last thread I’ve started and you might find it interesting.
Must be the sun in Jamaica giving you clear thinking! Same in Australia perhaps.
I might add that although I dont use a s/l I almost always place a t/p
keep it up!
cheersw
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I’ve been trying this the last two months, with decent success. I did have a handful of trades move huge against me and luckily I had margin to cover the drawdown. Setting TPs has really helped, especially if I hold overnight and can’t watch the charts.
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They’re after me I tell you! ha!
I’m a teeny tiny fish in the universe of fx, I know I know. I’m also dumb entering in zones of resistance and support, thinking I know what the price will do. That’s probably my biggest problem.
I have been following your madness for a month now trading without a sl and my winning streak is almost 100%. I saw your winnings and your explanation and decided to follow and I must say that sl is an enemy of forex trading.
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I have been following your madness for a month now trading without a sl and my winning streak is almost 100%. I saw your winnings and your explanation and decided to follow and I must say that sl is an enemy of forex trading. You have literally shown me a new strategy.
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I could respond to this but it might give it away. Just be careful. Glad to know you benefitted from the madness. I suspect that you may not be an ordinary individual, lol. I suggest you take the time and go through all my posts. It will help you on your journey. We have a saying down here in Jamaica…“Dont watch the noise, watch the sales”.
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Please update your thread, I’m eagerly waiting.
i do not trade without sl no matter what
i sometimes thought it was a trade i have to rush to and i dont need sl but in most cases it lead to loss
I also don’t trade without a stop loss. It is better to fix a small loss in time, rather than just wait for the price to reverse. Moreover, if the trend has changed, you may not wait for this price reversal and completely lose your entire deposit.
Well, I’m still mainly trading without an SL, especially on majors. During news, its 50/50 depending on if I open a position close to the release of the news. I’m more focused on trying to catch pips, to setting TPs is more important for me.
It’s risky for sure to not use a SL, but I keep an eye on my position size, how many trades I have running, what pairs I’ve got running (making sure not to trade too much of the same currency at one time), and then also time of day plays into. Less volatility later into the trading day so you don’t really have to worry about huge swings. And I check trades pretty frequently throughout the day too. That helps a lot!
Consider setting a mental stop loss, define a maximum loss level, or use technical indicators to guide your decision. Regularly reassess the trade and be disciplined in cutting losses if it goes against your initial analysis.
Good luck with that, if your internet connection suddenly goes down at a key moment.
If you trade often enough, it will happen eventually.
The truth is that nobody’s trading without a stop-loss. It’s simply that if they don’t enter a different one with the trade, then their stop-loss every time they trade is their whole account. 
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That’s another way to think about it! Simple and you’re so right.
What’s the point of this? After all, if the price went in the wrong direction and ended up below or above your mental stop loss, then this means that the conditions of the transaction did not work and the price may go even further from the order, increasing the loss. Moreover, the price may move sharply and with great momentum, and you simply will not have time to close this small loss. Correct and rational trading is when you close a loss on time, and do not stretch it out.
That’s exactly what happens. I know a guy… uuhh, who experienced this.
Oh, I’ve been there before. It’s usually best to just close the trade. Holding on and hoping for a turnaround can work sometimes, but it’s risky and can lead to bigger losses. Taking a small hit now is better than taking a massive one later
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I think trading without a stop loss is a game of luck. If a trader deliberately does not place it, it means that he is not ready to close the loss and is only counting on the fact that the order will not go into a big minus and the price will soon reverse. In my opinion, this is self-deception and it often happens that the larger the minus on the transaction, the harder it is for the trader to close it due to his greed and self-confidence. This is how deposits are completely lost.
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