Do you place your stops first? | Forex Factory

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Do you place your stops first?

  • #1
  • First Post: Apr 11, 2007 11:51am Apr 11, 2007 11:51am
Check out this video. The guy's got great energy, worth the 20 minutes it takes to watch.

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  • #2
  • Apr 11, 2007 5:48pm Apr 11, 2007 5:48pm
stop orders and stop losses work kinda differently in forex doesn't it? Normally, my stop is placed at the same time as the market or limit order.
  • #3
  • Apr 11, 2007 6:07pm Apr 11, 2007 6:07pm
Quoting Dopey
Check out this video. The guy's got great energy, worth the 20 minutes it takes to watch.

http://www.youtube.com/watch?v=5evLC...DDaily%5FVideo



Yes, I too like Oscar. I read somewhere that he couldn't pay the fee for his seat at the exchange, so his new internet business is doing him a lot of good now. Talk about diversifying; some dude from eastern europe recently sent him a $50,000 check, with a promise for more, if he trades it successfully for him... I wouldn't be surprised if I saw him on TV soon.
  • #4
  • Apr 12, 2007 12:03am Apr 12, 2007 12:03am
Quoting ch33z3
stop orders and stop losses work kinda differently in forex doesn't it? Normally, my stop is placed at the same time as the market or limit order.

Yes, he was referring to placing buy / sell stop orders as way to hedge or protect your equity in the event that there is a "market glitch" or you place a bad trade. Futures contracts / commissions are a lot less than forex spreads so doing this doesn't cost anything unless the order is "executed." As far as stop losses well you know, keep em' loose, real loose.
"Only when the tide goes out will we know who is swimming naked."
  • #5
  • Apr 12, 2007 12:12am Apr 12, 2007 12:12am
LOL great video. love how he has his trading badge on

is that chicago or NY? i couldnt see it to well...
Relax and be happy.
  • #6
  • Apr 12, 2007 12:48am Apr 12, 2007 12:48am
me no stops at all !!

thanx for the nice link .
Its My Way,, U dont have to follow
  • #7
  • Apr 12, 2007 1:29am Apr 12, 2007 1:29am
I'm a firm believer hedging works, it's just that i haven't found out how to.

Then again i guess i better see the video 1st, oops.
Still waters run deep
  • #8
  • Apr 12, 2007 1:38am Apr 12, 2007 1:38am
I always use a mental stop. It has always worked for me. There is too much
"stop hunting" that goes on. Not so-much to single out an individual but groups around prices. My motto: the less your broker knows about how you trade, the better........
just trying to make a little on a lot.....
  • #9
  • Apr 13, 2007 8:59pm Apr 13, 2007 8:59pm
Quoting snowman
I always use a mental stop. It has always worked for me. There is too much
"stop hunting" that goes on. Not so-much to single out an individual but groups around prices. My motto: the less your broker knows about how you trade, the better........
Presumtious, I know, but I'm guessing DS and his ilk are gonna get you if you "Post" it or not. There are only a couple of ways to calc. stops.

1) Recent Wrong Way Levels {> chance of them getting you on this one}
and
2) $Risk. This one will be a little tougher but it depends if you are inside or beyond # 1)

Sounds like a Damd if u Do/don't post but I think the Never Trade Without a Stop mentality is perhaps creating a cavalier attitude that co-erces folk into an
'Ah WTF, It's not a great setup, but I'll get in anyway. After all, I do have a risk/stop in mind."

Sense?
  • #10
  • Apr 14, 2007 10:13am Apr 14, 2007 10:13am
Quoting merlin
LOL great video. love how he has his trading badge on

is that chicago or NY? i couldnt see it to well...
Merlin,

that's a COMEX jacket.
  • #11
  • Last Post: Apr 14, 2007 10:13am Apr 14, 2007 10:13am
Quoting dunningduke
Merlin,

that's a COMEX jacket.
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