The Secret of Always making Profits (no Loss)

ifsysinc

Active Trader
Aug 13, 2009
1
0
32
Hello,
I have been trading forex for a couple of years now. You may not consider me a professional trader, but I can say that I am a SUCCESSFUL trader. Unfortunately, I had to learn the hard way.

Contrary to what is written on the Myths about Forex page on www.forexnigeria.org, (http://www.forexnigeria.org/Myths-about-Forex); about Stop Losses, you can trade successfully without using stop losses. In fact, I will advice you not to use them AT ALL!

When I started trading Forex initially I had DAILY profit targets of 200%! That is times 3 (for example making 200USD from 100USD). I even did better than that sometimes. I was using the maximum leverage and margin available. However, whenever I made a wrong decision about the trend or take profit, it was bad.
Later, I decided to reduce my level of risk; and I was actually able to keep some of my profits.

The secret is this:
Reduce your risk to reward ratio, and increase your profit target.
Very simple.

If you use stop losses, it's just like you are gambling; for example, you 'set a take profit of 20 pips and stop loss of 10 pips. Then you sit in front of your computer sweating profusely and... (you know the rest).
Instead, why don't you use a larger time frame and less risk, place your, set a take profit of 50-100 pips (or more);with NO stop loss. Shut down your computer, and go and do something else.
Come back later to see your profit and prepare for your next trade.
Very easy.

ifs
ifsysinc@gmail.com
 

Enivid

Administrator
Staff member
Nov 30, 2008
16,854
989
144
Odessa
www.earnforex.com
I have to disagree with you. Trading on leverage without a stop-loss is a plain suicide. It's not even a gambling it's a charity money giveaway. Forex pairs don't fluctuate constantly near the same values. One time you'll sell near the 1-2 year low or buy near yearly high and your account will be wiped clean with a margin call.

Trading without a stop-loss is about the first or the second idea which comes to a mind of every Forex trader. I tried that too. Got burned on that several times. Now I never recommend trading without a stop-loss on leverage.

On the other hand. If you trade with 1:1 margin, trading without a stop-loss looks fine to me. But that's completely another case.
 

Forex247

Active Trader
Sep 14, 2009
51
0
37
Trading without a stop loss is possible if you have the right technique. I traded this way successfully for a long time until I learned how to predict. Just leave yourself enough margin in case of big price moves against your position. Analyze the larger time frames and make sure you are not going against the larger time frame trends. By trading this way, your orders will not be liquidated by your broker because you will have enough margin to cover the temporary draw downs. And the markets will always return to it's previous price even if it takes a month or two. If a price level was hit in the past there is a good chance it will be hit in the future as well. By not trading against the larger time frame trends you are guaranteeing this. And when you place orders try and make sure you get positive swaps added to your account daily. This way even if the market takes a while to get back to your price level, you will still be making some money everyday. Don't get me wrong though. Trading like this is extremely stressful and dangerous.
 
Sep 5, 2009
17
1
0
This is madness.

In fact, this is a live demonstration of skewed trading strategy. While it can work for a long time, creating an illusion of profitability - its expectancy is highly negative and eventually destroy your account. Trust me on this one - I have developed and tested more systems that you'd seen in your entire life... This is the recipe for failure.
 

forexinfo.us

Active Trader
Sep 23, 2009
3
0
37
Austin, Texas
I agree, suicide. I've tried this and although it worked at first, because I'm pretty accurate on the longer term trend, it can get scarily close to a margin call.

Here's another point I don't think is mentioned above, you cannot open another position if you're 'riding' a negative position out. So while you're waiting, you can't make any money.
 

Forex247

Active Trader
Sep 14, 2009
51
0
37
I agree, suicide. I've tried this and although it worked at first, because I'm pretty accurate on the longer term trend, it can get scarily close to a margin call.

Here's another point I don't think is mentioned above, you cannot open another position if you're 'riding' a negative position out. So while you're waiting, you can't make any money.

Yeah, I definitely would not recommend trading with no stop loss but I just wanted to say that it can be done. I did it for a long time before so I know its possible. You're right though. You would need to leave yourself enough margin in your account for draw down. And if the market goes against your position then you just have to wait, which keeps you from entering other trades that could make money. The key is placing trades that go with the longer term trends and not against them. Markets usually always go back to where they once were before. Sooner or later they will. If a trader does this and leaves enough margin in their account then trading with no stop loss is possible but definitely risky. And more money can be made with other strategies too anyways.
 

Tradorama

Active Trader
Aug 5, 2009
14
0
32
No stop loss will make your account vanish - this is a sure thing to happen.
I agreed with the higher risk:reward, low trade size.
 

Millizoo

Active Trader
Nov 8, 2009
1
0
37
I agree with the idea of not using stop loss.but that has to do with some experience.

Some currency pairs has some characteristics that if well understood,can be traded successfully without stop loss.This is evident from this account attached.
 

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Forexcube

Master Trader
Dec 2, 2009
50
1
67
Switzerland
www.forexcube.ch
Hello,
I have been trading forex for a couple of years now. You may not consider me a professional trader, but I can say that I am a SUCCESSFUL trader. Unfortunately, I had to learn the hard way.

Contrary to what is written on the Myths about Forex page on www.forexnigeria.org, (http://www.forexnigeria.org/Myths-about-Forex); about Stop Losses, you can trade successfully without using stop losses. In fact, I will advice you not to use them AT ALL!

When I started trading Forex initially I had DAILY profit targets of 200%! That is times 3 (for example making 200USD from 100USD). I even did better than that sometimes. I was using the maximum leverage and margin available. However, whenever I made a wrong decision about the trend or take profit, it was bad.
Later, I decided to reduce my level of risk; and I was actually able to keep some of my profits.

The secret is this:
Reduce your risk to reward ratio, and increase your profit target.
Very simple.

If you use stop losses, it's just like you are gambling; for example, you 'set a take profit of 20 pips and stop loss of 10 pips. Then you sit in front of your computer sweating profusely and... (you know the rest).
Instead, why don't you use a larger time frame and less risk, place your, set a take profit of 50-100 pips (or more);with NO stop loss. Shut down your computer, and go and do something else.
Come back later to see your profit and prepare for your next trade.
Very easy.

ifs
ifsysinc@gmail.com

Great idea, really good,..congrats!
After seven years of "experimental" trading I prefere nowadays to trade in vast numbers of consecutive wins and try to avoid "stop loss", which might to be more to be along the lines of "misacceptions". For more practical details see under > "www.forexcube.ch" > "performance" > blue list > Report: *.pdf. :)
It would be remiss not to tell you that this kind of Coping is only for experienced traders for the simple reason that these results don't come about with let's just say verdant traders.
When you do this you have to put emphasis on cognitive behavioral coping in the sense of mind your attitudes.
Hope it helps!

Kindest regards
 
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