Yes I get out when I get a valid signal or reason. That's what I do. That changes with price over time.
i agree with frost engine,about stops costing money,nodoji has learned where to place them ,how to use them,if you don;t know how to use them,it's death by a 1000 stops,i haven't had success with them either ,but a max loss to keep you solvent should not be ignored....jsspmk doesnt post on ET any more but he use to trade successfully off the macd,3 timeframes referenced against each other with stops ,latest were currencies,but a few years back he showed it in the es journal
i prob should have said what i said last night a little different. I use stops as a worst case scenario ( but still placed in correct areas), i never exit my losers on stops i am always out before based on discretion. In a worst case scenario it may get hit but 9 out 10 times i am out before that happens. Not that it really matters how i do things, as everyone will do it differently. and i agree on the leverage thing. time will tell
Getting a little concerned this may drop 10-15 pips in blink of an eye. Hanging on to my positions now but looking to reduce at first opportunity. Have a bad feeling about this here.
Trying to stay objective...Looking to reduce over 2900 hopefully 08 or 09 even if I take a small loss.
Using stops to a prevent catastrophic loss is a little different than using them as as tool in the course of ordinary trade management. You implied you used them in the latter but now you claim only the former. I'm confused...
Not sure why you are confused. The entire point of everything that i said is that you cannot just make a trade and be out of business as a result of that one decision. As i said earlier " Traders can always use stops effectively they just need to be placed in the correct areas". Basically meaning, if you need to put your stop in the incorrect area then your entry was dog shit to begin with.