DislikedI agree but if it was easy to make millions, everyone will be doing it.
Your job is to sift though the BS and find what works for you. Sorry, no other wayIgnored
To improve is to change. To perfect, is to change often.
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DislikedI agree but if it was easy to make millions, everyone will be doing it.
Your job is to sift though the BS and find what works for you. Sorry, no other wayIgnored
DislikedI wasn't speaking about myself, or if I was, it was my self from several years ago. What I was really trying to get at, is that with so many differing opinions, many of which are polar opposites of each other in fact, some of them almost have to be intentionally misleading. One guy says he KNOWS that stops are unneccessary to trading, and the next guys says he KNOWS that they are. Is the one guy just plain wrong, or is he trying to mislead on purpose? That was where my comment was directed.Ignored
Disliked... One guy says he KNOWS that stops are unneccessary to trading, and the next guys says he KNOWS that they are. Is the one guy just plain wrong, or is he trying to mislead on purpose? .....Ignored
DislikedApparently you trade with stop loss and it is working for you. 95% of other traders who also trade with a stop loss are not making it. Do you think something is wrong?
I started trading with tight stops. As can be imagined it ended disastrously. Subsequently I gave more room and the results improved. And so on. Presently I have widened the stop loss to infinity. I have become positive since then.
Do you suggest I should rejoin those my 95 friends and start using a stop loss again?
King.Ignored
Dislikedpersonally
i can remain objective enough that even if price moves against my position i can interactively manage it.
and if im not day trading and price moves against me, the first question to ask is , is it a directional change or is it in tune with volatility.
stop losses although propagated as a money management tool is not the be all to end all.
one can
press
hold
liquidate
scale in
scale out
average down
its how you manage your trade, that makes you profit. and its the ability to recognize the changing market condition that dictates...Ignored
DislikedI have been trading for a good number of years and the myth that SL's are hunted is rubbish. Yes there are areas of the market were there will be a greater number of orders/SLs and limits and there will always be the person who refuses to use a SL because they constantly find there SL's hit to the pip before the market moves away. SL's are a definition of risk. They are there to protect your account should something go terribly wrong. I would rather see my SL hit 10 times in a row to the pip before moving away, at least there I know my greater judgement...Ignored
DislikedI have been trading for a good number of years and the myth that SL's are hunted is rubbish. Yes there are areas of the market were there will be a greater number of orders/SLs and limits and there will always be the person who refuses to use a SL because they constantly find there SL's hit to the pip before the market moves away. SL's are a definition of risk. They are there to protect your account should something go terribly wrong. I would rather see my SL hit 10 times in a row to the pip before moving away, at least there I know my greater judgement...Ignored
Dislikedi love the fact that there are so many stoploss haters. i know that over time you will grow more and more confident and your egos will swell. and then some fine day the sun will be shining so bright, the birds will be singing, and you will lose your account for one reason or another but mainly because you can't trade and have no concept of risk control and the inevitable has finally arrived to cash in on your ignorance and arrogance... and your tears will all taste so very sweet. i care not one bit for anyone's reply in defense of their 'elite no...Ignored
DislikedIf your sl is being hit, you r wrong on the trade; so move on to others.Ignored
Dislikedi love the fact that there are so many stoploss haters. i know that over time you will grow more and more confident and your egos will swell. and then some fine day the sun will be shining so bright, the birds will be singing, and you will lose your account for one reason or another but mainly because you can't trade and have no concept of risk control and the inevitable has finally arrived to cash in on your ignorance and arrogance...Ignored
DislikedIf you are long on the trade and the market become choatic, that is, in an unfovorable or unclear situation , you enter equal lot size short until market returns to familiar territory.Ignored
DislikedHeh, I hoped for something more sophisticated
Seems like you could just close the trade in the aforementioned situation and try to get back in at a better price or when PA settles down. This kind of hedging looks more like a psychological stunt than an actual tool giving an edge.Ignored
DislikedThis question has been doing my head in for a while ...
Let's say I'm in a chat room and I call out a price that I buy and I also state my stop loss.
I'm sure in theory that it's possible for another retail trader (or a group) with good liquidity to gun for my stop loss.
What I like to ask if this is a highly probable scenario or am I being too paranoid?Ignored
DislikedThere is a slight (but significant) difference is our approches. In yours you have finished with the trade (and swallowed a full loss.) You need a new, fresh and strong signal to start a new trade.
In my approach , I have not finished with the trade, its still in progress. I only need a slightly better condition than before to continue managing the trade.Ignored
DislikedThank You, RT.
You gave all the good reasons for using a stop loss. Risk control.
However there are other risk control measures besides stop loss. Stop loss is the most expensive of them all. In fact, I consider stop loss a measure of desperation. You don't want your overleveraged position to made a severe dent on your account!
If you are sizing your trades to the point where you need a stop loss to manage your entire position should an unexpected news,temporary power outage or internet disconnection occur then you are definitely overleveraged...Ignored