I take so much flak about not using stops lol. It's like you guys can't fathom that just because a position is down DOESN'T mean its a bad trade or that you should stop out.
Ignore = ON. Simple thinking, Vague insults buried in the assumption OPs opinion actually matters, or that somehow showing he is "better" than other at trading.
Can’t be forever true. Up to a point the position is bad. And sometimes it even becomes ugly, This is why we manage loss with tools, One of them being a stop loss. Now you might not be leveraged, Or you might have a tiny exposure. But a trader needs to get out, Before it becomes ugly. Stop or not. Not using a stop loss DOESN’T mean a position can’t turn into bad trade and shouldn’t be stopped out. The only thing you said is … You don’t use a stop and we don’t care. You can wipe your ass once a month if you want.
It's a lot easier without stops. Until that one time when you hit the ground. Professional pilots don't fly low, unless they're spraying bug killer!
It is considered as ultra processed food. I think only the OP watches such a video. After watching such videos, make sure you decontaminate your mind.
If you watch the entire video, at about the 32 minute mark he describes the strategy that he made most of his money from, which was during the period of only 2004 - 2009. He exploited a loophole at the time that is now closed, and he specifically confirmed that by saying "I wrote a book about it... but...You can't do this any more". Even in the case of a margin call, he would move money from a profitable position in a hedged account to cover the loss in another account. He was leveraged heavily but was able to not get wiped out only because of how he was moving money from one account to another in order to cover losses.
Two to three years ago Lithium was the new gold, batteries were the new technology for powering our world. Cars, trucks, toys, domestic and industrial solar systems, drones..... I bought huge positions in numerous lithium miners, with no stops. Oh boy......