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Funny Piesce on Stop Loss

Discussion in 'Strategy Building' started by dima777, Jul 21, 2008.

dima777
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Hi,
Just thought I should share an excerpt from the Dynamic Trading book on the stop-losses that I found funny:

Every open trade has an open protective stop-loss. If you ever have a
trade position without an open protective stop-loss order in place with the
broker, you are not a trader. You're an idiot. If there is a time in your life
when you will be hit by a truck, have a heart attack or fall into a coma, it
will he when you have an open position. What if the market moves
relentlessly against your position as you are resisting going down that oneway
tunnel toward the tight? Do you want the first words you hear when
you return to consciousness to be "honey, what's a margin call?''
More...

Cheers!

Dima

#1 Jul 21, 2008

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