How do you fight with this?

Discussion in 'Trading' started by trader1974, Feb 17, 2022.

  1. wmwmw

    wmwmw

    No,no.
    This is very important issue that many people ignore.
    Do you set a stop? If you don't, then even you have 90% win rate, you could lose money because the 10% you lose could cost your entire account.
    If you set stop, then those trades which go down before they go up have good chance hitting your stop and you are out even they go up later.
     
    #31     Feb 17, 2022
  2. For which to you argue... set stop or "no"?
     
    #32     Feb 17, 2022
  3. wmwmw

    wmwmw

    Of course one needs to set stop. But that makes most people hard to make money, I mean consistently.

    For example, if there is a chart pattern which has a 85% chance going up. Then after you set stop, the chance that you win is reduced to 50%.
     
    Last edited: Feb 17, 2022
    #33     Feb 17, 2022
    trader1974 likes this.
  4. I guess the best solution I can think of, is to consult Nancy Pelosi's crystal ball.
     
    #34     Feb 17, 2022
    trader1974 likes this.
  5. trader1974

    trader1974

    Perhaps what Maxinger says is the key.
    Don't anticipate what the market will do.
    First see what it does, then react.
    If you have a full candle, you have a point where you can put a tight stop.
     
    #35     Feb 17, 2022
  6. trader1974

    trader1974

    Of course if you don't put a stop in the short term you won't be able to be a profitable trader.
     
    #36     Feb 17, 2022
  7. trader1974

    trader1974

    Also what bad_badness says may help.
    Buy high sell high, this means overcoming a resistance before firing
     
    #37     Feb 17, 2022
  8. is this really your approach... if so I suggest you don't look at the market for 3 hours after entering your trades.
     
    #38     Feb 17, 2022
    trader1974 likes this.
  9. tomkat22

    tomkat22

    That's pretty much what Kullamaggi does. He "stalks" a stock that has a set-up he likes then waits for a nice up day that possibly signals a break out then he hops in. He harps on DONT ANTICIPATE...wait for that first big up day. I have noticed his stops seem to be tighter in this choppy,uncertain market. He seems to be just treading water like the rest of us.
     
    #39     Feb 17, 2022
    trader1974 likes this.
  10. trader1974

    trader1974

    Hi Nooby, well... sometimes you win, you raise the stop to the buy price and you end up empty handed.
     
    #40     Feb 18, 2022