Look again at this picture and ask yourself what had happened if you had no stops. Most certainly a smaller loss then with a "safe" stop. I have not used stops since 1987 because I lost to much. You should know the direction of the trend and how it will move so you never need a stop. Otherwise you should not trade. The biggest money to earn is to find a long term top or bottom and stay in for a year or more. That goes for currencies and gold as well. Do never "take home" the profit because the big difficulty is to find the buying or selling point again and again. It happens that I can wait for more than 2 years to find the exact point for my position.
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