What About Not Setting A Stoploss And Target? Only Exit/Book Manually

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Hii Folks!

i am interested to know about not setting stoploss and targets for any entry, share your views/experiences. 

 

hi,

I wouldn't recomend it to you. I started with trading only a few months ago. And at the beginning I never set a Stoploss or a takeprofit. I just closed the positions if they had a "good" win, but never close the positions which where in minus. I thought that sometimes it will turn over and make a win. So after a few weeks I won 100% of my deposit, but had also a few positions which where in minus, and this amount was as big as my win. So when I closed this positions I lost all I earned before. Therefor I wouldn't say that trading without stoploss is a good idea. 

 

In some cases you might get through and the market might bounce back. But on the long term that will ruin you.

 
cornesti:

hi,

I wouldn't recomend it to you. I started with trading only a few months ago. And at the beginning I never set a Stoploss or a takeprofit. I just closed the positions if they had a "good" win, but never close the positions which where in minus. I thought that sometimes it will turn over and make a win. So after a few weeks I won 100% of my deposit, but had also a few positions which where in minus, and this amount was as big as my win. So when I closed this positions I lost all I earned before. Therefor I wouldn't say that trading without stoploss is a good idea. 

Thanks Man for suggestions... 

 
MetaSky:

In some cases you might get through and the market might bounce back. But on the long term that will ruin you.

if i want to trade only for 30 pips minimum and 150 pips maximum.. for taking profits.. then will this not setting SL work?
 
abhishek72457:
if i want to trade only for 30 pips minimum and 150 pips maximum.. for taking profits.. then will this not setting SL work?
why let the market take your money, if you are wrong, get out, get back in at a more favorable time, and run with it until it reverses and goes against you, then get out. this is one method of many to play the markets. logically, it makes sense to get out of losing deals, and stay with profitable deals.
 
KenMcCormick:
why let the market take your money, if you are wrong, get out, get back in at a more favorable time, and run with it until it reverses and goes against you, then get out. this is one method of many to play the markets. logically, it makes sense to get out of losing deals, and stay with profitable deals.
True, i think we need to set a Risk:Reward Ratio for any deal. i think if i have done 10 trades and my 50% deals hit Sl and 50% hit Target then with 1:3 Risk:Reward ratio i will always be in Plus. 
 
Using "manual exit" only means you will have to keep monitoring your trades all day and night. Why not make that easier by setting points where the trade will exit automatically because just an hour or less when you are not seeing a spike as big as 300 pips can occur and put you in trouble or maybe go in the positive but by the time you are checking the price came back and never goes positive again then you wish you had set 100 pip tp or sl than hit margin call and lose equivalent of 1000 pips.
 
i like to give tp but hate stop loss :)
 

i never used stop loss in my entire history of trading.

i use TP and Stop Orders. 

 
chandra100:

i never used stop loss in my entire history of trading.

i use TP and Stop Orders. 

And what is the difference between a stoploss and a stop order ?
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