%% Congrats ,Java,on paid for real estate/silver; 100% of foreclosures are caused by debt.........................................................
All depends on your risk tolerance and setup. The stop imo is just for emergencies. I like to set it at the max loss in comfortable with. I would obviously try to close before my stop is hit. Just how I use stops. Different than you apparently.
The range on Friday was over 30 points. Like I said I use the stop as an emergency so I have some kind of risk protection. Usually will set it with my max loss im comfortable with (3-5 points) in case things get really ugly somehow. I don't use it as an exit strategy. If my setup doesn't work I'm out way before my stop. I rarely get stopped out. Now you focus on ur own strategy .
Anyone here trading DOM on ES with TWS? Out of morbid curiosity I've been trying to get either BookTrader or Market Depth Trader working. I believe I have the market permissions set up correctly but I can't see the bid/ask sizes at the different levels on BookTrader (blank).
Don't think this is the proper forum to discuss that as to why what one would reasonably expect re your range qs., cos of momentum/trend from a longer time frame view to a shorter one and where the instrument is from those perspectives and what is really is support/resistance since R/S ON THE LONGER TIME FRAME has been found. Again, this is not the proper forum to fully cover this topic.
for what it is worth.... on ES I used to run big wide stops like 5-7 points or more... and was always looking for profit targets that were not realistic. Of course, I blew up my account... 7 points is $350, I trade $3000 per contract so that is just too much. Now I run a tight stop at 2 points, and 3 point profit target. last year when volatility was higher I went for 4 and 5 points on upside. It works for me...
Hi all, like to agree with Jdesey. stop at 2 points, and 3 point profit target is my choice too. Have a nice we !