Who says trading without a stop loss is stupid? Find out why this guy thinks it’s not!

I don’t mean to start an argument or anything, but the points above on whether retail trader’s stop losses are being hunted by the institutional guys (or the so called big boys) intrigued me, I am new to this whole forex thing and still trying to demo successfully, I am hoping the experienced traders here might be able to clarify something me regarding the stop hunts?

As explained in one of the youtube videos posted above, it made sense to me that large institutions wants to avoid excessive slippage when they enter their positions into the market, hence they stop hunt, and this is all good and well if it is one bank that wants to get into the market. What if multiple institutions all wants to go long at a certain price range, since they can see each other’s orders like they can with retail traders, who can provide or willing to provide this kind of liquidity to large institutions, and will the failure to fill such orders causes a sudden sharp rise / drop in the currency?

If we say on the other hand that stop hunts are a myth, how does the large institutions get away from the slippage problem?

This is a bit unrelated, but thinking of the flash crash last week, please correct me if I am wrong, but even if we have putted stop losses, the trading account can still be wiped even if a stop loss was set (due to slippage). Would a stop order in the opposite direction be a good safeguard, stop loss might not get hit, but surely an order in the opposite direction during such events would be filled at the preset price?

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Did this guy just get a shout out on a review site.

Not exactly going to lie I do feel favoritism happens here a lot. The forum is filled more with beginners than experienced traders for sure. It has its pros & cons like everything else.

It’s obviously a case of sour grapes and of course there are more beginners here because it’s a site aimed at new traders. I doubt if one, obviously bitter review is going to put off new people joining.

I have personally tried 6 or 7 forums and only regularly visit babypips and one other because of the generally good atmosphere here.

Is this Forex Peace Army? If you check babypips there, you’ll see this is the lone negative review.

I think @Barrigan is on to something when he said it’s a case of sour grapes.

Yikes. How does it manifest? Do people get leveled up or something?

This topic is back open. Please keep it on topic or your post will be removed. My reply regarding the FPA review can be found here:

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Stephen System by rrram2 | Myfxbook of course check it again, as I sit here with a bacon sandwich I am going to eat it, I am overjoyed that BS finally got honest with you, and realized HOW this is an EASY way to trade and consistantly make $ over time, being a short term trader is not the way. DD is less than banked profits, and it is my goal to risk as much as 100% of banked profits!@ and risk is best controlled with small lot sizes and good entries.

and OBVIOUSLY ENTRIES in the direction of the longer term trend. but this should go without saying.

maybe it will be easier to imagine how things are going with an mt4 equity chart?

ram, This looks Greeet as Tony the Tiger would say!

best of luck ram - you know where I stand. no need to continue this conversation.

Hey Barrigan,

You can’t have an intelligent conversation with this guy. He trolls every post looking for a way to hate on you.

Tono - Proof of your claims on a site that advocates such success…? Nope, thought I saw it for a split second, my mistake.

Had to top up your account with a few grand?

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you have to create your own expert to trigger the stop loss
i do not like the stop loss set by the server
just because i like personal matters to stay personal
i just hope the internet connection does not go away
but all and all setting is a protection against those mysterious spikes
last year gbp went long 160 pips in one minute

You keep forgetting the most important point. Consistently making $50 bucks a month isn’t considered trading for a living.

It’s called trading as a hobby.

As the bible says, developing the character of a disciple: chapter 10 - how to develop truthfulness, lets today, in the good lord’s name, whilst praying for pips, take a vow to be truthful on here.

Are you making money, yes. Is it money that’s worth making, no.

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However Henery, ten pips a day is a good place to start while learning to be consistently profitable and isn’t that the goal.

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Indeed it is - but if you consider the most important notion here, time is money, do you think its a smart idea to wait as long as it takes to get those 10 pips?

For someone that claims the below.

There are no good entries here whatsoever. If I closed my eyes and entered the same trade, I’d have the same chances of success.

All we’re doing here is going in ridiculously small and then waiting it out.

I think I will side with rram on this point.

Henery your statement implies there is no edge in working with the percentages, I think there certainly is, trade management is all about understanding understanding the probability of continuation or pullback.

To that end cash management of our win-loss starts, I agree with ram on the small lot sizes. Especially as they are much easier to fix when heading negatively.

No, you need to side with rram on this - guys like you are his bread and butter.

Traders with Low TI (trading intellect) and a love of wizardry are the kind of guys he loves.

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