I Stopped Using Stops

Hey nick......guys

He's not getting stick,because many of us are on eggshells here at t2win

So I say good luck to him ......sounds a perfectly reasonable system not,using stops

And check out historic drain the banks TRO. Posts for a similar system.......although I think,TRO was using stops


N

Hi Nvp
I just thought the example given of a trade representing 33.33% of ones account deserved closer examination. As I stated in that case 10% a week is rubbish.

I had 75% better month than op with trades no bigger than 1 to 1.5% of my account.

Anyway it's the interwebz so it's all good right!
 
Hi Nvp
I just thought the example given of a trade representing 33.33% of ones account deserved closer examination. As I stated in that case 10% a week is rubbish.

I had 75% better month than op with trades no bigger than 1 to 1.5% of my account.

Anyway it's the interwebz so it's all good right!

If the guy is legit then it's up to him how he plays the cards ......not to all tastes but such is life

Just keep your wits about you Nick

N
 
I have not insulted anyone NVP, haven't been given a time out, my observations are all factual and can be justified with example and extrapolations and in general I try and not participate.
I must read this thread when I get time but from a cursory look he avoided a lot of the F treatment.
Civility is not difficult and considered argument and discussion can be enjoyable.
I personally do not believe it can be encapsulated in a mere gif, no matter how funny said giffer believes he is.
 
If the guy is legit then it's up to him how he plays the cards ......not to all tastes but such is life

Just keep your wits about you Nick

N

If he is not legit, then I don't mind either.
A level of plausibility is encouraged to maintain the readership that is all -)
 
Didn't take long, I actually had a bet with another member. Your predictability got me £100.
It was written for you. Now gif that....
Cheers
 
Didn't take long, I actually had a bet with another member. Your predictability got me £100.
It was written for you. Now gif that....
Cheers
Damn i thought i was the king of gifs-
ps got hammered in doubles-i blame my 67yr old partner;)
 
:whistling :p

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Damn i thought i was the king of gifs

To me you are and always will be the gif master king. Youve inspired me through thick n thin. I think he ^^^ ye might have Nicked the win with no proof perchance for if he did we couldne dance.......

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Your humble student
d
 
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My fellow bettor is on a T2W sabbatical but hey thanks.
I hope your not always this predictable -)
 
So it seems one trade equals 33.33% of your balance.
You also stated a trade went 200 points offside before coming back a winner of 50 points. How did that work if a trade is 33.33% of equity employed please, did it exhaust the other 66.66% whilst waiting?


I trade with low leverage, the maximum being 50:1 but usually around 35:1 average. I also keep my account balance adjusted so that, as you say, the average position uses 30%. I keep the rest of the trading capital in a separate account in which I can move amounts back and forth with ease. But the bulk is protected. You could call this a stop of sorts. When I played blackjack professionally many years ago, I kept only a certain amount of chips on the table and the rest in my pocket. This was an easy form of money management. But I digress. At the time of the 200 pip reversal, the account balance and the trade size were such that the 200 pips brought the trade to 45% of the balance. I would have manually closed the trade at 70%. My analysis has proven to me that a movement of that depth is the start of a long term trend (in months). For example: The recent EURUSD spike to 1.17 would have been close to that. I was not in that trade but it was no surprise to me that it reversed. I took advantage of the down side. What a ride!

As a bit of a maths fan myself, on the basis of the above mentioned trade your 10% per week seems exceptionally low.

10% per week compounds to roughly 46% per month. You can do the math on the annual. As my account compounds, so does my trade size with it, so it has become very, shall I say...interesting, over the last several months. I consider my trading to be very conservative. My daily goal is 2% growth but I have been 2.5% on average and have had some 5% days. My weekly calculation includes a 0% day because I don't trade on Fridays and it also includes all the days I have not traded, taking a week or two off here and there. What good is the money if you can't go play with it?

I see you average 75% per month. That's very impressive. I can't say I would want to either do that much trading (scalping?) or hold trades for that long (if you position over long periods). But I would be very interested to hear about your method. It's always interesting to see how others have developed a systematic approach.

I am surprised you have not got more stick here yet.

It raised some controversy early on but as with most repeated topics, it probably became boring. I don't post much either. I'm busy working on trading than arguing about it. But if I'm waiting for my conditions to form or watching a trade mature, the forum can be a diversion. I think the forum is a way to not feel alone for most of us. Besides, I pick up interesting tidbits here and there. I'm surprised at how secretive traders are. Do we really think that any number of retail traders in a forum could move the market? Ha! I always thought, how cool would it be if enough retail traders pooled their strategy that they could actually move the market - an us against them scenario. Not going to happen; greed and pride is the killer.

There is a guy on another forum that has created some crazy MT4 indicators that he literally named "Holy Grail". It appears he is making serious money with them. I followed the posts for awhile in which he spelled out the system, gave all the files, and continues to attempt to educate his followers. Still, maybe 10% of them are having any luck using it. Like TRO: he provides all kinds of information and yet, is anyone getting rich from any of his systems? Is he? Personally, I think my system is kind of dumb. I've gone from incredibly complicated to ridiculously simple and finally settled on moderately dumb. But it works for me. That's all I care about.

Anyway, I'm rambling...
 
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Should we stop using stop loss? NO the stop loss as we all know are located on the brokerage server and will trigger if reached even if our own computer or the internet goes down. The stop loss is not placed on our own local computer or the VPS. It is also a protection against margin requirements being used up. What is mostly important besides the stop loss on single positions is to have some kind of account protection on the whole trading account, regardless of how many positions are opened. RMM Robot or rmmrobot can be search on google to read more about "Account protection" besides just stop loss on single positions.
 
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Another circular conversation about stops or no stops. Using no stops doesn't make you hot ****. And it certainly won't turn a losing strategy into a winning one.

Besides it's not about stop losses anyway. It's about risk management, and there are many ways to manage your risk besides stop losses (hedging, countertrading, tiny minuscule positions that won't make you money anyway). If you are not applying proper risk management you'll be outta here eventually. It's only a matter of time. I guess its conceivable to battle against a losing position for 5 or 6 years and later come up on top. But why go through that torment? Surely there is a better way to spend your time and financial resources.
 
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Another circular conversation about stops or no stops. Using no stops doesn't make you hot ****. And it certainly won't turn a losing strategy into a winning one.

Besides it's not about stop losses anyway. It's about risk management, and there are many ways to manage your risk besides stop losses (hedging, countertrading, tiny minuscule positions that won't make you money anyway). If you are not applying proper risk management you'll be outta here eventually. It's only a matter of time. I guess its conceivable to battle against a losing position for 5 or 6 years and later come up on top. But why go through that torment? Surely there is a better way to spend your time and financial resources.
Agreed
LOL
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LOL
Yep
battle? torment?... 5 or 6 years???

I love this thread :cheesy:
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. . . I love this thread . . .
Hi dt,
Forgive me if I'm being spectacularly dim, but I'm not too sure what it is that you're trying to show with the charts? My guess is that it's possible to be short in an uptrend and come out on top without using stops?

As much as I've tried to free myself from the 'prison of my own false thoughts', there's one thought that keeps coming back and biting me in the butt. Whichever way I slice 'n dice it, it appears to me to be very, very true. Namely, that sooner or later there's a ferociously strong move that's sustained for much longer than one expects or that one's account can withstand. True, they don't happen very often but, when they do then, potentially, it's bye bye account time. Been there, bought the T shirt. If you can explain clearly and simply how to get around this problem, then the circular nature of the discussion referred to by 'beastwork' might be broken.
Tim.
 
I love this thread :cheesy:



Also just realized what the goofy color coding was for. :):)

So you think that simply getting rid of stop losses will turn a losing strategy into a winning one? Right.... the magic of raw dawg trading. Ain't it grand?

And don't back peddle. You LOL'd at the comment. I agree with your premise though, stop losses (as provided by your broker) are not at all necessary for profitable trading.

Post your losers, otherwise you're just trolling the thread.
 
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If I didn't know any better I would think that you've never entered a losing trade. :sneaky::sneaky::sneaky:
You do take losses from time to time right?
You certainly seem to know something, I do indeed take losses, as do I take winnies. They all the same imo. (y)
 
You certainly seem to know something, I do indeed take losses, as do I take winnies. They all the same imo. (y)

I don't know squat. My entire trading style is predicated upon that realization.

So you do close losing trades WOW! But you don't use the stop loss mechanism provided by the broker.. Whoopdie doooo!!! 'tis all the same pal.
 
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