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What you describe IS a stop-loss! Seems like you don't make distinction between arbitrary stop-loss and LOGICAL stop-loss (place where reason to hold a position ceases to exist). Furthermore, there is often the case when failure of a signal automatically means opposite signal, so not only...

I basically use just one chart (because don't like to draw channels on several screens at once), but very often switch between timeframes (it's done very easily in Quotetracker, literally one press of the button, thats among what I like it for) of 1min, 3min, 5min and several times a day take a...

Result of this mistake is on charts... Missed profit of at least another 4%...

Only after was stopped out, noticed that made the same mistake again, moved stop arbitrarily to b/e instead of using natural levels and risking some more ticks...

Stopped out @ b/e.

Long @ 41.

Definetely need a "hold" button... :) Leave a lot on the table in current well-trending market conditions...

Out on a WRB around the price of 35 for ~6.5-7% profit... :p

Protected 4% profit and holding...

With some delay, but still have decided to post: long @ 1.5610 (trade was initiated around 10:22 CET), so far stop-loss is at a current moment on a b/e level.

Pretty nice run as price have broken out of almost two days long down channel.

Out for ~4.5% gain @ 1.56.

Long @ 1.5583.

Here is an example (instead of chart, don't have time now to make screenshots): I am long @ 100, S is 90. My pattern is no longer here if price trades below 90. Price violates 90, I'm out. As you state in many cases price will soon go up again and I agree this is correct. But I don't care...

Again, to clarify, I'm not talking here about ARBITRARY stop-loss vs. LOGICAL stop-loss. I'm talking about stop-loss vs. other ways to limit risk vs. not limiting risk at all.

I'm talking not about "imaginery stop-loss" here, but about the point where previously taken setup fails and that point is a logical reason to get out. And your point that "in many cases violation of S/R is not true reversal" is completely wrong, because at THAT MOMENT we do not know if it is...

Out for a negligible gain.

Short @ 63.

BTW, I'd say that stops are not risk ELIMINATING tools, because where no risk - there no profit as well (not counting the case of market correlation inefficiency, possible to be arbed). Stop-losses are risk LIMITING tools.

"Huge losses" are simply impossible with the use of stop-loss and that's exactly what stop-losses are for. And if you follow the profitable edge trading, having losses is no biggie, furthermore assuming that in outright speculative trading it is impossible to avoid losing trades. And it's...