Do you use stop-loss orders at all?

Hi.
Do you use stop-loss orders at all?

Feel free to cast your vote!
(Explain you choice in the post if you see the need)

Thank you very much for your participation!

PS: A similar poll is created too, named What stop-loss strategies do you use?

 

I use mental stops only, never physical ones (for intraday trading only).

 

always, always, always.

but my stop loss depends on different things for different stocks. it could be a straight price point; it could be an intraday moving avg being broken...could be a time frame (ie. has to move in the next hour or i'm out), could be a level 2 participant (if X gets taken out, i'm out).

but i always, always, always - as a daytrader - have a point where i say "trade didn't work, take the loss, on to the next trade"

 

Why do you use mental stops, as opposed to physical stops?

Thank you.

 

Because physical stops are too easily triggered by the specialist/other traders. Plus I trust my own judgement as to what I should do on a discretionary basis rather than to let a trade "fulfill its own prophecy" when it's not going to work and I know it!

Basically I just prefer to enter and exit under my own power.

 

If you have discipline to follow your discretion and time to watch the price second by second, it's a good strategy.

 

I do, I trade full time so its easy for me to not have to use physical stops.

 

I set price alert brackets. Never use actual stop orders....once an alert is triggered off to market I go...

 

I only use trailing stops...

 

Quite many people don't use stop-loss at all, be it physical or mental.

I'm interested to know why.