by christian » Sun Mar 21, 2010 7:36 pm
Hello Traveller
(1) Unprofitable open orders aren't qualified to bring a win at a smart pace. Open are now EURUSD's in the majority. Since february EURUSD moves in a range between 1.3450 and 1.380. So when this range will be broken at resistance line, some or all orders could be executed.
(2) If it will move further in counterdirection you hedge these ones a second time,..., a third time, like it was been before. So you regain your "open loss trade" several times, before it will turn into a win or it will exit say at 1.3850 at a higher time frame level with a loss. You can do first when your multiple time frame analysis gives you on the higher timeframe more range, say you trade M1, M5 and take a look at H4, Daily. By contrast stop loss is a definitely minus, but then I don't have the chance to contend for a win any more. And so you have to be aware and have taken more response about all your "loosing" trades. The rest is your own MM and RM, that can every trader determine by himself.
(3) Oh yes, of course. Swaps are costs which you might earn with the hedging trades additively.
Trading without stop loss without the need for blowing the fuses? -... might be a maverick and unorthodox concept.
Kindest regards
sam