Stop loss dilemma -- to use SL or not to use SL, it's a problem

sorry, I dont understand what youre saying.

 

you can enter a TRAILING stop based on nothing more than how much you are willing to lose, has nothing to do with the market, just based on you and your account

and even though you don't execute the stop, the chart will track it, and you can just watch it until it actually makes sense and hit "transmit"

 

so what I mean is, there are two ways to look at a stop. One is based on what the market is doing, and the other is how much you personally are willing to risk based on your account.

Like I said, I don't use stops, and I certainly don't use trailing stops, I don't like either.

 

but if you are going to use them, at least get how much you personally can lose and what the market is doing coordinated

 

and I'm certainly not an expert on any topic, but I do have extensive experience in taking losses

I know just about every way to take one

that's all I do all day is just take losses

I don't pay that much attention to what the profits are doing, sometimes I add to them

 

Well not "too bad" just adjust size appropriately.

 

some say if you have "positive expectancy" whatever that is, there should be no need to adjust size. But I see it like you do...half the size twice the stop

 

Not using SL will virtually improved your success rate, but in reality what really happen is :

You are adjusting your risk/reward ratio (increase significantly) to improve your win rate.

Note: Non SL is the hallmark for long term investor like Warren Buffett, it is a great weapon to use, but not for the leverage traders.

 

It's more about the entry method anyway, if your entry is like most based on nothing more than random chance then no SL looks better at first, until you get a huge loss ofcourse and wipe out your 20 small profits in 1 go.

Ofcourse trading FX or Index's at 50:1++ Margin is different to trading stocks at 2:1.

What is the OP trading ??

 

It is not that hard to guess what most "new generation" ET are trading this day, most of them are using bucket shops with ridiculous leverage, and most of them blow up their $500 account shortly.

I really miss the old time that most of the ET using at least a proper broker, and you can only allow to trade after you have at least 5k capital with 2:1 margin, at least you don't have those 18 year old come here and start talk about trading, which in reality is just gambling.