are your trading losses hard Stops or mental Stops ?

Discussion in 'Trading' started by Wallace, Sep 6, 2011.

  1. intraday trading I use mental stops
    an overnight only trade has to have a hard Stop otherwise it means waking up
    every couple of hours to check the trade
    third type is B&H trades, the Stop only stays on for a couple of days

    what do you use ?
  2. -------------

    holy molly, are you crazy.

    Especially in DAYTRADING you NEED HARD STOPS, so hard as my Cock when i see my wifes hot ass. Understand.

    Otherwhise you will get killed, beliefe me.

    For Swingtrading you can trade with your mental stops.

    Whats up with you, what are you doing ???
  3. sorry i didnt want to be unfriendly.

    i always use hard and mental stopps.

    The hard stops are just for an emergency situation - the worst case scenario.
    When i see that i am wrong, i exit manuelly thats my mental stopp, its no price, its my experience that i know when i am wrong, and that is always before my hard stop.

    Ah, by the way, i prefer to trader winners. :D :D :D
  4. That`s how hard they should be! :D

    I always use a hard stop myself. Would never trade without one. Trading the ES, I may enter an initial 3 point stop (my max stop) as I enter the trade just to make sure I`m protected against a sudden adverse movement or loss of internet connection. As soon as I`m filled, I may adjust my stop to the uncle point which is the point where I have to admit the trade is wrong. I prefer nothing more than 2 points as a stop.

    I`ve had the market move so quickly both against me and with me, that I know the dangers of not using a stop, even if it`s only for a short period of time while fetching coffee or going to the toilet or whatever.
  5. Visaria


    Always use hard stops.

    Mental stops are only for those who are trading in v large size, which i don't believe means anyone here.
  6. ---------

    Hello Visaria,

    of course you are right.
    But i for myself use also mental stops, how i wrote in my posts before. So, when i see that the market does not that what i thought i am out manually, isnt that a mental stopp. I do not wait, than until my Stop Loss Order will be hit, that would be very stupid.

    So not only the big players trade with mental stops.

    But of course the traders with institutional trading volumes, cant use hard stops anyway, because i think very often, they just cant go out at one time, with such huge positions, the only edge this guys have is to be right and minimize the volume in profit step by step, and also if they are loosing its only working than step by step. Thats a lot harder, than for trader without billions over billions for trading.

    Thanks and good trading.:) :) :)
  7. of the 120 views only 3 viewers admit - indirectly to having trading losses

    from what I've read the use of Stops is a very debated question since there's no
    consensus that comes down on one side or the other

    this also gets into the concept that your trading system 'doesn't work' if you keep
    getting Stopped out, hard or mental

    personally I wouldn't be happy using a 3 or 2 point Stop in ES or any other contract
    I'm more at the 1 tick, 2 at the most in part because I'm a top/bottom picker, but
    everyone has the problem of reversal formations that may or may not occur where
    the second leg up/down may be higher/lower than the first

    and that's funny, if anyone were to use hard Stops I'd have thought it would be the
    'very large size, big players'; and it would be interesting to know what their Stop
    amount was either in ticks, points or percentage
  8. Greetings Wallace,

    well, every trader have trading losses, boy, thats part of the game.

    The number is important, how often you have losses VS winners.
    Who cares about a loss if you make 10 Winners for that, just by saying on every trade you risk 1 and get 1 - for example.

    What i have read in different books about the VERRRRRRRRRYYYYY
    LAAAAAAAAARRRRGGGGEEEEE players, they can not use hard stops, because in the market is not the volume for their orders.
    how i said before, they must enter and exit their huge positions step by step, otherwhise they couldnt take on so huge positions, they have to wait for volume, and build up and down their positions size by time with volume.

    Every trader use his own exit Emergency strategy.
    Find your own and be happy about that.
    But i would really recommend to you that you use hard stops, because every time you are in the markets, EVERYTHING can happen, and the market blow you out of the water AND when you have NO hard stop in that situation, you will loose MUCH MUCH MUCH more, than you ever have thought could be possible, ESPECIALLY for INTRADAYTRADING.

    Good luck
  9. BSAM


    Hard stops.
  10. When I'm trading the futures, I'll almost always use a bracket order and give myself a hard stop and limit order for taking profits. It's true that sometimes I leave money on the table and sometimes I don't get filled, but with hard, fast rules and boundaries, it has made me so much more consistent and profitable. When I trade with options, I typically use spreads because a spread will dictate your max losses and gains and you can look at the "worst-case scenarios" before you ever pull the trigger. It's a comforting feeling, and then I can go golf without worrying what possible disasters are knocking at my door.
    #10     Sep 6, 2011