Dear familyes,
please come and discuss your thoughts on this

honje19960321 wrote: Wed Oct 05, 2022 10:03 pm Dear familyes,
please come and discuss your thoughts on this

Depends on the stop loss size bro......... if its stricly set to only 5 pips away then u will get smashed right

Use the ADR indicator for setting stoploss

I am not sure what "strict" means.

Generally though, if you take a trade without a Stoploss you are Gambling
it's not Trading.

I know there are many geniuses that think hedging instead is so much better.

In reality their Ego is just too big to accept a loss and instead pay swaps/commissions + a lot of time to get "no losses".

Same with the specials folks that think "At SoMe PoInT tHe MaRkEt cOmEs BaCk".
Dont show them a current chart of EU though, might destory their reality.

Edit: if we talk about a tight stoploss..

wide stoploss -> higher winrate less RR
tight stoploss -> lower winrate higher RR

it depends on how you trade and want to trade, there is no better or worse.
It has to fit your personality.

You want to know the real Holy Grail?

Find the Timeframe and Style of trading that perfectly fits your own personality traits.
Most instead try to trade how they WANT to trade, even so their personality doesnt even allow them to trade that way.

Lets say you are trading with a tight stoploss, because you want to have high RR trades. Like all those great Gurus do.
You are doing very bad though with losses. You are getting very emotional after taking 2-3 Losses in a row.

So there is NO WAY you will be able to trade this way consistently.

Nope! It would be nonsense to have a trade going against you and wait till it hits your SL of whatever size! If it's tight, many losses will occur. It it is wide, the loss will be serious. Either you are in a high probability trade or you are not.
Those gurus.....well, if you have the funds to sit out a draw down. I have the funds but I'm not willing to do that. Draw downs can continue till your account is empty.
Thus, if a trade goes against me or takes too long to take off, I'm done and I may take small loss and wait for the next one. High RR one only knows when those indeed have happened. One can get caught in a consolidation (i.e. what people call sideways markets) and Price action may then continue or may as well go the other way. Yeah, in history I can show you any trade.
If I get the direction of Higher TF's right, really nothing serious happens (most of the time... ). I might place an emergency stop a 200 points below (or above) just in case the instrument decides in a surprise move to go 500 points or more against me within 2 minutes (which already happened). But that's rare.

Please delete....

josi wrote: Wed Oct 05, 2022 11:30 pm There is no "holy grail".
The "holy grail" is a religious concept.
I am uncertain if it is better to call it a symbol, an allegory or a metaphor but it belongs to mytho-religious poetry and should remain there.
Trading should be based on observation (empirical facts) of historical data (statistics) and the analysis thereof .

lol. Let people use metaphors as they wish.

Side note: 2nd definition in Google for "holy grail": "a thing which is eagerly pursued or sought after."

Please delete....

honje19960321 wrote: Wed Oct 05, 2022 10:03 pm Dear familyes,
please come and discuss your thoughts on this

SL is a security for those that don't want to monitor their trades continuously
like Pending Orders.

it's certainly not the HG otherwise everybody would just put a tight SL and voilà ! i'm rich
lol I don't think it's that simple

Let's all be honest guys. Stop losses are something a lot of us like to preach but don't even practice mastering.

What's more interesting is the other half of us don't use stop losses because we think they are a scam and are used by brokers to hunt positions.

I have also traded many times without a stop loss.

The EUR/CHF crash of 2015 got me

Things were going well for years trading without a stop loss until I got wiped out during the EUR/CHF crash and lost $22,000 and an email from Alpari my broker to pay the -$11,500 which I accrued during the crash.

The next day Alpari entered insolvency.

Till this day I still haven't paid it

Strict stop loss, say 5 or 10 pips, is more of a gamble as you would gamble that the price would directly go in the direction you predict.
The real holy grail would be in your psychology, when you know when to hold the trade or exit it, then you would be consistent.
Though if we talking about a conceptual indicator, a holy grail indicator to my observation would be something like an RSI that didn't make a divergence.