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I Stopped Using Stops

Forex -
Perhaps it's a crazy thing to do but:

I stopped using stop losses and kept every other tactic of my strategy the same as it has been. The result: I have not had a losing trade since May 25, the day I stopped using SLs. I'm at 16 straight wins.

Sure, I have had entries that were ill timed and that is just me entering too soon into a situation that my charting indicated would occur. So at first the trade would go negative and would have hit the SL if I had set one up as I normally would. But in time, the chart proved correct and my trade became profitable. I started this because post trade analysis of the last year showed me that every one of my trades would have been profitable had I not had a stop or at least a really deep stop. But how deep? I had a trade a couple weeks ago turn 200 pips against me before coming back to 50 pips of profitability. It taught me some lessons about my timing that I have since improved upon. But my patience paid off.

Will it always work? Perhaps not. But in what appears to be a non-trending market - stops have proven to be an account killer. I've made more money in the past month than in the previous 4 months before May 25.

I'm curious as to what others do in this regard.
Date: Jun 23, 2015   

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