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Attachments: How to avoid stopp loss...anyone doing that?
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How to avoid stopp loss...anyone doing that?

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  • First Post: Sep 28, 2006 3:28am Sep 28, 2006 3:28am
Hi all,

I have been trading futures oil brent for 2 month, ...i made a lot in 2 month,...but then i start to be undisciplined and i lost all made profit plus 120 buks in 2 days ,...now i stoped since oil isnt going any lower, i would have to go on a long one,...but i hate future now, beacuse there is not stop loss.
So i decided go to forex,...i traded in a demo for 2 month in the past and i made a lot of profit, but it was a demo.

Leave that behind.

The main question is i trade on a standard account, but i have witrdraw 5k usd,...so i got now something like a medium account..


So i was thinking if i open another account at the other broker,..and trade only one pair with a relaitve volatility like eur/usd, and on one account i only buy, and make a stop loss (or even more stopp loss o.c.o., so that i wont loose if it goes to much down) on the other i only sell the pair with a stop los, if I catch after the resistance is not broken,... and i made a profit on both i close the buy pair,...and improve stop loss,...if the resistance is broken i close the sell pair and improve the stopp loss at long position,... and i try again on another level...and so on.

Feedback most welcome.
its just money
If you're goal is to become good at this and make this a business, a stop loss should be your friend...

There are instances where stop losses are not needed in a strategy, but those are far and few between and more advanced.
Mr. Trend
Quoting Mr Trend
...a stop loss should be your friend...

i couldn't agree more...

(1:1)TM
Quoting Centrillion
i couldn't agree more...

Ofcourse it should be your friend,..but even in a demo, the stop loss didnt work beacuse of very high volatility,...so my friend became my enemy....
its just money
Quoting de123
Ofcourse it should be your friend,..but even in a demo, the stop loss didnt work beacuse of very high volatility,...so my friend became my enemy....
Then keep your enemies closer than your friends. Use a stop loss.
Let me put this eloquently, if I may. Stop losses are like condoms. Some people don't need them, but they either A) are professionals, or B) make mistakes that cost a lot of money. Hope this helps.
ok...i will use it thats for sure,..but much more down...

quote: feel like a prick

and thats the reason why i will try with 2 accounts,...i couldnt agree more,...and when u loose some,...u wont to get it back, and that can folow to a disaster,...it did to me in oil, and that was done manually.


i know that there is no holly grave,...but would apreciate if u will help me at the begining, i also am in no way able to understand the interests received and interested payed...i did get some answer that i will pay them if i open a short position and vice versa (is that true?),..and IF i have an open position by 23.00 european ...they will charge me for 9 buks for 100k eur/usd, and double on wednesday and weekends, ....
its just money
Quoting de123
Ofcourse it should be your friend,..but even in a demo, the stop loss didnt work beacuse of very high volatility,...so my friend became my enemy....
You are looking at trading wrong, and if you continue to think this way, you will blow up your account.

The stop loss didn't become your enemy. It removed your risk in the market. The market doesn't care about you. When the psychology of the market (a chart) is telling you that it's moving against you, thank your lucky stars you didn't move that stop and it got you out.

When you win or lose, you should shrug your shoulders and walk away.
Mr. Trend
Quoting twinchell
Let me put this eloquently, if I may. Stop losses are like condoms. Some people don't need them, but they either A) are professionals, or B) make mistakes that cost a lot of money. Hope this helps.
That's a good one

I don't use stop loss because of 2 reasons A)no broker can cheat my money with a spike or whatever to hit my SL, B) I believe in "what goes up must come down!" and let my positions run (only those I get swap!)

Cheers!

ps. when I use SL, they are hundreds of pips away
ok..lets make it simple,...when open a new position,..whats the best way???

trailling step if bid (for long positions), and trailling step if offered (for short)
day offer
if done
trailling stop if offered (auto) just trailling step divid by 2 for some positions...

or u buy manually, make a stop order a bit lower then expected support level for long positions or vise versa,...

maybe some other combinations...
its just money
Quoting de123
ok..lets make it simple,...when open a new position,..whats the best way???

trailling step if bid (for long positions), and trailling step if offered (for short)
day offer
if done
trailling stop if offered (auto) just trailling step divid by 2 for some positions...

or u buy manually, make a stop order a bit lower then expected support level for long positions or vise versa,...

maybe some other combinations...
That's just it. There's no right way. I like to enter, set my stops manually via support and resistance, and that's that...
Mr. Trend
Quoting humax
B) I believe in "what goes up must come down!" and let my positions run (only those I get swap!)
I adhere to this philosophy as well. The trick is to leave yourself plenty of leeway.

With my money management system, a trade would have to move against me at least a thousand pips in order to trigger a margin call. My penance comes when I must sit on my hands while the position moves into my favor. My worst trade ever lasted about 6 trading days and moved against me a max of 113 pips.

If the Euro had broken it's high for the year, I'd probably still be waiting.
Correction, my worst trade ever involved a spike-triggered stop loss.
DePastino,

I think you have a good method. Catastrophic stop loss. Based on what your account can take. Based on very strong support. Lots of leeway for the market to move against you. A negative position is not a loss unless it is taken. Wait for a negative to turn positive and while doing so mitigate losses by buying the dip or selling the rally.

Lou
Quoting Lou
DePastino,

I think you have a good method. Catastrophic stop loss. Based on what your account can take. Based on very strong support. Lots of leeway for the market to move against you. A negative position is not a loss unless it is taken. Wait for a negative to turn positive and while doing so mitigate losses by buying the dip or selling the rally.

Lou
Exactly, though I'll only do that provided that I have enough margin available to not put myself in serious jeopardy should my SAR signals fail me.

I RARELY take a loss.
Ofcourse not always,...but today seems thats what happened,...

oil was gaining and dolar was loosing ground...

do u watch this coorelation if trading forex or oil?
its just money
I look for reasons to short the USDCAD when oil is rising
Ehhh. the phrase the "Cart Before the Horse" comes to mind.
So oil went up the week before, usd down,...the oposite yesterday,...today i dont even care,...tomorow i do ! Do you expect a push in eur/usd and in oil for tomorow as i do?
its just money
If 75% or more of OIL is sold in USD, then wouldn't an increase in the price of oil also mean and increase in the demand for USD?

How come OIL adversely affects the price of the USD if this is the case?
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