QFE. He is so profound though. All this just goads him into posting more. He has decided the world is against. Depressing to think about it.
Garcia is the boyfriend/girlfriend of one of the moderators...they take turns as both are confused NiN
you never hear goldman sachs got stopped out in a fakeout. while tons of traders do.. i think goldman sachs doesnt use stops at all!
Daytrading index futures (ES), I don't trade with stops except occasionally for entries. Stop losses, very rarely; only when I have to step away from the computer while in a trade. I know what all the books and educators say, so let the flaming begin.
If you have the discipline, you don't need them. If you've traded since you registered on this board and still have money to trade, you must have the discipline.
It isn't MANDATORY to have placed hard stops. But at some point, you have to "cry uncle" when it looks like your play is wrong... which can be done with hard stops or market stops when it's gone against you "far enough".
There are plenty of successful day traders, all be it very few on this site. Nevertheless, I traded with plenty of successful day traders, who grew their net worth and account to.graduate towards hedge fund status. My advice to.you, stay in school or get a desk job.