It's not about not being able to keep stops from from earning swap interest on the danglers while taking slow and steady gains. That much is true that an unexpected large move outside of historical volatility, if that has been the criteria for trade size selection, will wipe the whole thing out. And the only way to exit that is to do it on the absolute top. Even worse with a two way grid, two tops. It all seems good until you remember that interest rates change.
*yawn* ... it's too early to post here. I'm a big believer in using stop losses. I just do not adhere to the theory of the following trade set-up (for example): Open a long EUR/USD @1.2600. TP at 1.2700. SL at @1.2525. End. I don't call that "trading." I call that being stupid. Opening a trade in a "dumb luck" structure. No knowledge or skill is involved whatsoever. The currency operator in this instance is simply casting his fate of profit to the wind. That's an amateur set-up and one that indicates that "trader" is lazy and has no interest in either sticking around long or advancing. The SLs I use are based on numerous factors and when I utilize one there are a multitude of components brought to bear. These are based on trade progression and knowledge and overall trade set-up. And they are NOT done according to the example given at the top. EVER. Those who say I do not use SLs are morons and dreamers and have no idea how I trade, or how to trade in the least. Anyone who enters the ForEx and does NOT have a profitable and aggressive SL structure in place does not belong in the trading environment. The market eats participants like them. It's just a fluctuation, dRawdOwN
If this is true, then I commend you on changing your style - finally. In December of 2004, when the Euro hit 1.36, you stated - very clearly - how you were holding on your 1.20ish Euro short. Where was the stop for that? 1.10? I can go find the links I suppose if you want.
Can Hedging be used instead of a stop loss? Can it be used to tame UPL during the wait? would interest differential play a part in the decision to use a Hedge, verses the finality of a SL? Archy
Here, Skalpz/Coinz/Whateverz... http://www.elitetrader.com/vb/showthread.php?s=&postid=749928&highlight=stop+loss#post749928 This is the post that is particularly pecante: 1600 points you took. And you claim you use stop losses? That must be a recent development. You wasted 8 months of trading waiting for your trade to come back. That's not trading. THAT is a gamble, just like you're arguing against in this thread. Incidently, the thread is a perfect read if you really want to understand the type of trader Drawdown actually is (played by the part of Skalpz).
Sorry to pop your defamation bubble, Ivansky, but you'll need to "link" posts only associated with this ID --> DrawDown. Wish I could help ya on the other side of that.... Post what you want but consider this... I'm still around, no matter how you try to say I trade. Think it over. DD
This guy has to be one of the stupidest guys ever to visit this site. Maybe followed closely by prolific poster ES. This really baffles me. One would have to think it's a joke.
You're quoting the great Coinz? And you have anything to say against HIM, let alone me? 1. Learn how to trade first. 2. Then try to post something coherent. 3. Forget ever scaling the heights of skills, trading ability, advancement and knowledge of Coinz, you don't have anything close to the raw materials to work with to do that. Better you hang out with your cyberbuddies and play make believe trading/posting games on ET. Not one of you have any idea whatsoever how Coinz trades nor how I trade. The DrawDown
wow, NTB...Thanks...was that called for? Its a good thing I do not take you seriously... maybe I mis-understood...am I next to stupid?...or do I follow Drawdown and he is my guru..? because if you meant I followed Drawdown as my Guru, That hurts! as far as being stupid ...I know. Please people do not defend me here, I am trying to lose credibility and I can do it by myself...you too Drawdown... Michael B.