I Stopped Using Stops

[tar]

Nice point tar. Exceptional win rate = exceptional risk. Some people do try to "game" their trading so that certain metrics look great on a BB.

Anyone can put these numbers , but not long term . I am willing to open a journal thread and trade a 100% win rate system , piece of cake .

 

[tar]

Hey youve 'unstopped' yourself . How did you re enter the thread? Was it on a stop or limit?? youre amongst friends mate!

Im not sure anyone could give less of a shìt bout my win rate than me, but, it seems pretty important to you, so heres some facts.

From 26/06/15 to end of play today:-

Winners: 229 trades (50.9%)
Loosers : 221 trades (49.1%)

Starting balance: £2420.34
End Balance : £2632.24
Profit : £211.90 (8.7%)

As for what I see as important in trading. Id say to generate as much profit as possible with the least risk.

Regular win rate doesn't indicate a superb trading system either ...

 

[tar]

Hey youve 'unstopped' yourself . How did you re enter the thread? Was it on a stop or limit?? youre amongst friends mate!

.

Scaling in :cheesy:

 

[darktone]

Anyone can put these numbers , but not long term . I am willing to open a journal thread and trade a 100% win rate system , piece of cake .

Interesting.
Its a methodology rather than a system btw. Theres no 1+2=3

Regular win rate doesn't indicate a superb trading system either ...

No doubt.

Scaling in :cheesy:

Loooool, but as a great expert of these very forums often says, the devil is in the detail . So, stop? limit?.. Or was you just beating on that market button when the mood took. :cheesy:

 

[paszkman]

Making ton of points in a session or 2 or even 100 sessions is meaningless , any kid can do that , what matters is system expectancy on the long run .

so what is an acceptable expectancy for you @tar ? anything above 0? +0.3? +0.5? :?:

 

[Fugazsy]

Just one last thing Fug. That profit you took in your example, +20. Was it on a stop?

Dark

Sorry, did not have time to reply.

Sometime is, some time is not.

I try not to have rigid rules, market is not rigid, it is always ever changing....I also rely to my creativity, but I have rules where to giggle it.

This was my last trade yesterday, risked 5 made 30 took in about 10 minutes.

Here the news come in, normally market shake everybody out in the event, AUD is weak prior to it, when the news came in which were one positive and one negative, prices went quickly up to where she starter prior which also was the weekly low, here as soon as she touched that level she went still, do I know what will happen next? NO. I took my chance, not more than 5 pips, if stooped out I am wrong, could also go another 30 pips up I do not know..... as soon as I entered she went down, I knew I was right because the tape was telling me, I covered the all at the high of the previous candle.....made my day.

This is only my view and my perception and it will not work for everybody, that is why markets are so interesting......you have to do what is right for you and you do not have to prove anything to me but yourself.....

 

[tomorton]

Now how about the pair of you have a go at the questions.

Pointless. It would be silly to dispute whether you can trade or not or how much profit you could finesse from any one trade and how little I could. The point of the discussion is not whether its possible to trade without stops, its whether its a good idea.

 

[tar]

so what is an acceptable expectancy for you @tar ? anything above 0? +0.3? +0.5? :?:

Positive expectancy , and the higher the CALMAR ratio the better ...

 

[darktone]

Dark

Sorry, did not have time to reply.
No need for sorry mate, is all good.

Sometime is, some time is not.

I try not to have rigid rules, market is not rigid, it is always ever changing....I also rely to my creativity, but I have rules where to giggle it.


This was my last trade yesterday, risked 5 made 30 took in about 10 minutes.

Here the news come in, normally market shake everybody out in the event, AUD is weak prior to it, when the news came in which were one positive and one negative, prices went quickly up to where she starter prior which also was the weekly low, here as soon as she touched that level she went still, do I know what will happen next? NO. I took my chance, not more than 5 pips, if stooped out I am wrong, could also go another 30 pips up I do not know..... as soon as I entered she went down, I knew I was right because the tape was telling me, I covered the all at the high of the previous candle.....made my day.

This is only my view and my perception and it will not work for everybody, that is why markets are so interesting......you have to do what is right for you and you do not have to prove anything to me but yourself.....
I dont think ive anything to prove to anyone, including myself . Am just here to learn. Imho, T2W is a great place for learning.

Cheers Fug
Looks like you sold at higher prices and covered at lower prices, sounds good to me.

On the risk side, the 5 pip stop. How would you feel if say, just after you entered the market short and youve placed your stop, a large market order took out the book to 0.7685 and filled your stop for -52ish. The market then turned on a penny and shot back down to your previous entry price and then on to your profit target 10mins later.
How do you think you would view that kind situation?

 

[darktone]

Pointless. It would be silly to dispute whether you can trade or not or how much profit you could finesse from any one trade and how little I could. The point of the discussion is not whether its possible to trade without stops, its whether its a good idea.

Pointless. Really? Youre not curious about how others how traders view things, and execute? Were you sitting next to a trader who was matching youre return, at a tenth your size. You wouldnt want to try and find out what makes them tick?

As for not using stops. I think, for the very vast majority of the folks who come by this thread, the answer is no.. Simply because they dont have the mind for it.. Yet!
Nothing says it like a gif.
The market (bear) was only trying to give him a price, the trader (dog) shìts himself.

 

[darktone]

Positive expectancy , and the higher the CALMAR ratio the better ...

I agree. Karma is great!

 

[Fugazsy]

Cheers Fug
Looks like you sold at higher prices and covered at lower prices, sounds good to me.

On the risk side, the 5 pip stop. How would you feel if say, just after you entered the market short and youve placed your stop, a large market order took out the book to 0.7685 and filled your stop for -52ish. The market then turned on a penny and shot back down to your previous entry price and then on to your profit target 10mins later.
How do you think you would view that kind situation?

Well, surely I would be a bit disappointed, but I would not feel less disappointed then if prices went another 100 pips up without a SL.....you following me?

Beside too much thinking for me when I trade it is not good, I already made enough thinking in weighting market conditions, levels together with price action and direction of the least resistance, now I have to act, if I am wrong I am right having a stop, if I am right I am just right, so what ever I am doing I am right....in my view of course......

 

[darktone]

Well, surely I would be a bit disappointed, but I would not feel less disappointed then if prices went another 100 pips up without a SL.....you following me?

I do follow you.
Let me ask this. If you have truly accepted that:- the market can do anything at any time, that you can make and lose money in a blink, that the money ive set aside to trade is at risk. Is there anything to be disappointed about?

Beside too much thinking for me when I trade it is not good, I already made enough thinking in weighting market conditions, levels together with price action and direction of the least resistance, now I have to act, if I am wrong I am right having a stop, if I am right I am just right, so what ever I am doing I am right....in my view of course......

I hear ya man. And a fellow thinker, I sympathise.:clover:
But, do you think its possible that you might have given yourself a lot to think about?
Condition of the market
Levels
Price action
When to act (getting in/out)
Being right
Being wrong
Being wrong but right.

 

[tomorton]

Pointless. Really? Youre not curious about how others how traders view things, and execute? Were you sitting next to a trader who was matching youre return, at a tenth your size. You wouldnt want to try and find out what makes them tick?

As for not using stops. I think, for the very vast majority of the folks who come by this thread, the answer is no.. Simply because they dont have the mind for it.. Yet!
Nothing says it like a gif.
The market (bear) was only trying to give him a price, the trader (dog) shìts himself.

Curious - yes. Convinced - no.

 

[darktone]

Curious - yes. Convinced - no.

At least you are curious.
What could stop you from learning something and perhaps going further to being more curious, at least?

 

[Fugazsy]

I do follow you.
Let me ask this. If you have truly accepted that:- the market can do anything at any time, that you can make and lose money in a blink, that the money ive set aside to trade is at risk. Is there anything to be disappointed about?


I hear ya man. And a fellow thinker, I sympathise.:clover:
But, do you think its possible that you might have given yourself a lot to think about?
Condition of the market
Levels
Price action
When to act (getting in/out)
Being right
Being wrong
Being wrong but right.

lol

Have a great day.

 

[darktone]

What could stop you from learning something and perhaps going further to being more curious, at least?

^^Irony has a sense of humour^^ and a spectacular sense of timing.

Have a good one Fug. May many profits enter your account this fine day and the fat finger of slippage miss you by much minutes.:clover:

 

[Fugazsy]

^^Irony has a sense of humour^^ and a spectacular sense of timing.

Have a good one Fug. May many profits enter your account this fine day and the fat finger of slippage miss you by much minutes.:clover:

Tenacity is a great prerogative in trading, but sometime can be of a hindrance ......let it go man....surrender.....whatever you do SL or no SL.

AU is trending nicely.....

 

[darktone]

Tenacity is a great prerogative in trading, but sometime can be of a hindrance ......let it go man....surrender.....whatever you do SL or no SL.

AU is trending nicely.....

I have surrendered mate. Totally!
Go n kill AU

 

[tar]

At least you are curious.
What could stop you from learning something and perhaps going further to being more curious, at least?

I am not curious at all , i know how retail traders trade and i know how it ends ...