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No Stop No Target Trading Strategy


Have you ever traded with no stop and no target? Open a position and wait for the market to roll over and pay you. Sounds crazy right? Well, this is what I did in my simulation account for over a year and a half. My annual gains were roughly 360%. I used the Thinkorswim platform with 50k in the futures account and 10k in the forex account. I would open a position based on any simple strategy and sometimes I just randomly opened a long or short just to test the method. If the market went against my position I would buy or sell more accordingly (Scale in). I traded roughly 10 futures products including all the popular markets except for the /ES (never a fan). I traded roughly 20 forex pairs whilst usually holding 6-10 open positions every night. I do the same with futures. I simply hold onto these positions until they are in the positive reading of $120 or better.

I am not greedy at all. When you have multiple positions open every day and night you will most likely close 2-5 positions in the green DAILY.
Not once did I experience a leverage problem in either my 10K (Forex) account or my 50K (Futures) account. The most lots I ever opened for one currency was 15. This means that the market went against my position 1,500 pips and I still made money on that pair. It took three weeks to roll over but what do I care, I am steady closing other positions in the green...daily.
Point being, 10K is enough to trade in this fashion in forex. The futures can be broken down to trade in a 10K fashion as well, you just can't open as many positions because of the larger margin size for futures. I recommend 30-50k for futures multiple market trading. To give you an idea about my monthly profits in futures...I closed $3500 in crude oil (/CL) alone, September 2017 results.

I average 3k a month in forex, trading in this fashion. Another awesome fact about trading like this is that you do not have to sit in front of the screen. You can keep your day job while saving for your 10K account (if you don't already have one).

Trading in the simulator, watching profits roll in daily will keep you motivated as well. Try to trade all year and see nothing but red, you will not last, you will drown in that red river of losses.

Going through the process of closing positive trades daily, watching your account swell like never before, no stop outs...ever...could very well change your mind and attitude towards the markets. Regardless if it is paper money. I challenge someone to try it, especially if you are struggling to pull "Daily" profits. You literally have nothing to loose when using paper money. You could very well find it to be good fun and possibly life changing, like it was for me. :)

Great trading everyone.
Hi Bill,
Can you elaborate a little further? For instance, you said you closed positions in crude for $3500 in Sep. What if you buy at the low of the market and it runs 200 ticks against you (such as buying on Friday 10/06 at 49.20 area and it never broke down from there)? Would you still be holding this trade?

Just trying to get a better understanding of this

Thanks

Correction that should be 'sell' at the 49.20 area for 10/06.. my mistake