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Poll SL HIT

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  • #1
  • First Post: Jan 15, 2010 2:11pm Jan 15, 2010 2:11pm
Dear Traders,

How many of You have noticed that as soon as you enter a trade it become positive and you move stop loss to BE+1, then suddenly it reverses HIT your SL and again went right direction?

Thank You for Your vote!
  • #2
  • Jan 15, 2010 2:29pm Jan 15, 2010 2:29pm
Quoting sphinx
Dear Traders,

How many of You have noticed that as soon as you enter a trade it become positive and you move stop loss to BE+1, then suddenly it reverses HIT your SL and again went right direction?

Thank You for Your vote!
If this keeps happening to you then there is something wrong with your trading style / system.

My SL rarely gets hit, I trade the medium to long term and my stops are around 1 ATR on the dailies, if the trade doesn't move as I expected I'll close it out manually.

-Razorjack
-Razorjack
  • #3
  • Jan 15, 2010 2:45pm Jan 15, 2010 2:45pm
Quoting sphinx
Dear Traders,

How many of You have noticed that as soon as you enter a trade it become positive and you move stop loss to BE+1, then suddenly it reverses HIT your SL and again went right direction?

Thank You for Your vote!
Most of the time i set a hard stop. However if the price is bouncing off a trendline or Support/Resistance area and im up a good amount i will move my stop to break even. very rarely does it get hit.
"The market doesn't beat them, they beat themselves" - J. Livermore
  • #4
  • Jan 15, 2010 3:11pm Jan 15, 2010 3:11pm
You just need to give your position more wiggle room. Wait for it to form a new support/resistance area before advancing the stoploss.

Rob
  • #5
  • Last Post: Mar 20, 2010 8:43pm Mar 20, 2010 8:43pm
Quoting sphinx
Dear Traders,

How many of You have noticed that as soon as you enter a trade it become positive and you move stop loss to BE+1, then suddenly it reverses HIT your SL and again went right direction?

Thank You for Your vote!
Then you are a market feeder. Keep away from its teeth.
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