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

I would actually quite like to partake in a pint of what you have been drinking :sunglasses:

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its a new drink, just on the Market - an IPA called “Ram” :face_with_raised_eyebrow:

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Sharing is caring. Its a custom concoction, I cannot disclose the ingredients here, but the main one consists of quail eggs - shaken, not stirred.

And if you like a bit of wacky backy then @rrram2 is your man.

Are the eggs Viable?

Yes very viable and very succulent - if you wait the 17.35 days required.

I don’t think quails lay eggs as a rule without a cock bird present.

Shame you can’t respond to more than one person at once

but @BaconSandwich and @jafooly, good to cross keyboards with you both - off to bed in a few minutes -

oh im replying now

I believe they do if you have a Ram present.

Shame you’re off to bed so early, the party was just getting started.

and now …

It’s ok though I see your concern, it’s been pointed out with @Pipstradamus too - but unfortunately we were both there and present to have a mutual discussion.

It’s not a “tag-team” either - we just both have horrendous sleeping hours.

Know what you mean - nearly 1;00 and I have to be up at 6;00 - nighty night ! x

You part of the rat race as well? I feel your pain. A solid trading strategy could solve that.

I’ll take that as a no.

I don’t mean to shoot down his approach.
I want to find holes in or improve my own variations.

Is it better to place an order in one lump sum
or can you better your chances by spreading the order out into smaller chunks?
I think there can be value in using something different to the standard bracket order.
At least as far as having something different in your toolbox.

Very interesting stuff and I have bookmarked his threads to go through when I have some time.

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Trust me, you don’t want to use his actual approach.

In a nutshell you take a trade and get your prayers on, and wait for price to come back in your favour. It involves having huge periods of draw down where you just sit and wait.

He thinks he can replicate this strategy on an account of any size, which he can’t.

I’ve been testing my own variation for the past few weeks. You can get a 100% win rate if that is your thing, but as long as you cut losses and let winners run, you will have a success rate in the 85-90% range, and you’ll be closing all trades within the same day, usually a few hours.

Purely trading the 1 hour chart and trading small lots, relative to your account size.

Today;

I call this strategy Ram It & Jam It.

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His win rate is 99% on myfxbook.
I’m more interested in the other 1%, I mean why give up. :smile:
Is there a way to cut risk while waiting for rebound?

First look at the ongoing losses he is carrying.

I could place trades today, and wait 9 months until they go in my favour and close them all at a small profit, I’d have a 100% win rate, what does that mean, nothing.

This isn’t trading. This is like playing the lottery and waiting for your numbers to come up.

You can’t cut risk waiting for a rebound that isn’t going to come around anytime soon.

You invest in an armchair and you wait.

Do the maths, waiting around for all these trades to get into profit and make a few bucks here and there, and then your time placing thousands of trades - you’re better off working a 9-5.

If you want to tweak this, then you need to find the trend and trade with it, then you can be in and out and bag pips all day long, without large draw downs and holding trades for months.

Similar to the example I’ve shown you above.

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it certainly isn’t trading

in practice, it’s really even worse than playing the lottery and waiting for your numbers to come up, because with the lottery, at least you have the chance - however small - that one day you might hit a huge jackpot and never have to work again, but just retire in grand luxury

I think that every trader has its own trading strategy. Somebody is good at i.e. swing trading somebedy else is trading only on fundamentals. So, for some traders using ST might be quite convenient tool to execute their strategy, especially in case of strong market moves.

This thread, combined with your trading journal, has been very helpful. I’ve long struggled with stop loss – exiting a position when the market is moving against you, i.e., at an inopportune time. The quandary becomes: Will the move against me get worse – perhaps enough to torpedo my account – before it gets better?

I am developing a comprehensive yet simple hedging strategy to not only address this issue, but also to maximize profits. This notion of a stop loss only guarantees a loss is a fundamental piece of that strategy. Thanks!