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  • #403,981
  • Mar 10, 2011 5:38am Mar 10, 2011 5:38am
Quoting sisse
IMHO, trading without a stop loss is the worse advice to follow in FF. Trading without any stops just show how poor and inefficient is a trader and the lack of confidence in one position and trading plan. The price of reentry if stopped out by far outweight the potential cost of not having one. Like driven without car insurance because you are F1 pro driver....a joke and not realistic for any aspiring trader.

sisse
I dont disagree for newbie yes. but i am infront of my screens at all times and have the discipline to close positions if my analysis is wrong yes i have a max downside i will accept but that is always taken into account before i enter a trade. also i have the advantage i only trade 2 pairs so never have anything else open.
  • #403,982
  • Mar 10, 2011 5:39am Mar 10, 2011 5:39am
Quoting jezek5
And me being bullish on Fiber?
did i point that towards you??? no some one else was talking about a bullish cluster.
  • #403,983
  • Mar 10, 2011 5:40am Mar 10, 2011 5:40am
Quoting monkeyj
I dont disagree for newbie yes. but i am infront of my screens at all times and have the discipline to close positions if my analysis is wrong yes i have a max downside i will accept but that is always taken into account before i enter a trade. also i have the advantage i only trade 2 pairs so never have anything else open.

Flash crashes mean nothing to you do they,
i thought you said you worked for a bank,
risk is the first thing they teach.
You can remain irrational longer than you can remain solvent.
  • #403,984
  • Mar 10, 2011 5:42am Mar 10, 2011 5:42am
Quoting sisse
IMHO, trading without a stop loss is the worse advice to follow in FF. Trading without any stops just show how poor and inefficient is a trader and the lack of confidence in one position and trading plan. The price of reentry if stopped out by far outweight the potential cost of not having one. Like driven without car insurance because you are F1 pro driver....a joke and not realistic for any aspiring trader.

sisse

I for one don't use any, only use stops to lock in profits on scaled in trades. Price is fluid so should the point where you are getting out of your trade be. I agree with you though, an aspiring trader should not trade without stops.

BTW, slowly getting to my 120 pips we were talking about yesterday.
  • #403,985
  • Mar 10, 2011 5:42am Mar 10, 2011 5:42am
Quoting monkeyj
I dont disagree for newbie yes. but i am infront of my screens at all times and have the discipline to close positions if my analysis is wrong yes i have a max downside i will accept but that is always taken into account before i enter a trade. also i have the advantage i only trade 2 pairs so never have anything else open.
Sure mate, I guess you know what you are doing so .... just watch out if you are holding GU as interest rate hike will put out of business even the faster mouse clicker in the world if you are in the wrong side.... good luck in your trading.

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #403,986
  • Mar 10, 2011 5:43am Mar 10, 2011 5:43am
Quoting monkeyj
I dont disagree for newbie yes. but i am infront of my screens at all times and have the discipline to close positions if my analysis is wrong yes i have a max downside i will accept but that is always taken into account before i enter a trade. also i have the advantage i only trade 2 pairs so never have anything else open.
power cut, loss of internet connection, unexpected news announcement, the list goes on...

a better debate would be tight or loose sl...
  • #403,987
  • Mar 10, 2011 5:44am Mar 10, 2011 5:44am
sadly my plan doesnt let me hold trades over news have to be out at least 15 minutes before.
  • #403,988
  • Mar 10, 2011 5:44am Mar 10, 2011 5:44am
Quoting jezek5
Flash crashes mean nothing to you do they,
i thought you said you worked for a bank,
risk is the first thing they teach.

Can't wait for another one, made an absolute killing on last year's DOW F-up
  • #403,989
  • Mar 10, 2011 5:45am Mar 10, 2011 5:45am
Quoting FibbinArchie
power cut, loss of internet connection, unexpected news announcement, the list goes on...
generator, lease line ... no chance of happening.
  • #403,990
  • Mar 10, 2011 5:45am Mar 10, 2011 5:45am
Bears r waiting for news.
Attached Image
  • #403,991
  • Mar 10, 2011 5:46am Mar 10, 2011 5:46am
Quoting FibbinArchie
power cut, loss of internet connection, unexpected news announcement, the list goes on...

Rack of UPS's, 3 seperate leased lines, countertrend the news flash if appropriate and fade the top.

I had a long conversation yesterday with a poster here regarding his stop, as his entry was so poorly. The biggest problem 99% of posters here have is not having a clue where to put them in the first place.
  • #403,992
  • Mar 10, 2011 5:47am Mar 10, 2011 5:47am
Quoting jezek5
Flash crashes mean nothing to you do they,
i thought you said you worked for a bank,
risk is the first thing they teach.
lets say i took a short on EUR at 40 well technically i would have an imaginary stop at 55 ie manual close on that level but to take into account slippage and interbank movements stop is actuall physically placed 15 points higher not by me but an exposure program... so mentally i am exposing myself to 0.5% risk and the system will allow 1% total drawdown on a trade then it will be closed.. make sense.
  • #403,993
  • Mar 10, 2011 5:48am Mar 10, 2011 5:48am
Quoting monkeyj
generator, lease line ... no chance of happening.
famous last words... rather you than me...
  • #403,994
  • Mar 10, 2011 5:51am Mar 10, 2011 5:51am
Quoting monkeyj
sadly my plan doesnt let me hold trades over news have to be out at least 15 minutes before.
What about externalities...today Spain downgrade, ECB "slips" last week, and the list is endless ...so you are glue to the screen and news feed all day...

If you can do it is fine not judging your trading system but just saying it's not a good advice for newcomers on FF..

Is pointless for the thread to continue the discussion on that line so lets leave there and let see if any surprises in the UK

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #403,995
  • Mar 10, 2011 5:51am Mar 10, 2011 5:51am
Quoting cloggie
Rack of UPS's, 3 seperate leased lines, countertrend the news flash if appropriate and fade the top.

I had a long conversation yesterday with a poster here regarding his stop, as his entry was so poorly. The biggest problem 99% of posters here have is not having a clue where to put them in the first place.
narcolepsy, lol...

if he left it about 10 or so above yesterday's dpp he should be laughing now...
  • #403,996
  • Mar 10, 2011 5:52am Mar 10, 2011 5:52am
Quoting FibbinArchie
famous last words... rather you than me...

The question really should be, do you use WTF stops or stops above next SR as most retailers do. Using the next SR is just asking to get your stops hit, using a WTF stop is something not many retailers think of. If you have redundant systems then WTF stops can be easily handled manually and the SR stop can be eyeballed to see if that is a point where one should get out of a trade.

The problem in general is that most retailers are so undercapitalised that they have to use tight stops to keep their risk exposure to a minimum.
  • #403,997
  • Mar 10, 2011 5:53am Mar 10, 2011 5:53am
Quoting FibbinArchie
narcolepsy, lol...

if he left it about 10 or so above yesterday's dpp he should be laughing now...

I tried really hard to help the kid out, hope he listened to it. I eventually got him to move his stop to 3930 so unless he chickened out he should be fine.

I am still waiting for my target I posted yesterday.
  • #403,998
  • Mar 10, 2011 5:54am Mar 10, 2011 5:54am
new low close on the hourly if we close below 3830...bbl
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Look Sharp/Trade Tight
  • #403,999
  • Mar 10, 2011 5:54am Mar 10, 2011 5:54am
hi guys.
  • #404,000
  • Mar 10, 2011 5:56am Mar 10, 2011 5:56am
"Sell the Yen day"...

Completely off topic but man dig this.


Guy goes into my backyard, steals the lower unit from my outboard (with prop/ 200HP Evinrude) puts his broken' lower unit on as if nothing happened and has the gall to have an attitude both with the cops and my people. And the fuker has it on his boat in the water!

....why'd I have to be 1,200 Miles away

I am-gonna take a bat to his skull on sight no questions asked. The nerve of some people.
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