I trade ES with a 1/2 point stop loss, you?

Discussion in 'Index Futures' started by stock777, Aug 17, 2007.

  1. I trade while being gang probed by aliens, with a 1.25 stop loss.
     
    #11     Aug 19, 2007
  2. I trade with a 5 to 20 pt. stop and wait for the cows to come home.
     
    #12     Aug 19, 2007
  3. bighog

    bighog Guest

    There is someone in here that claims never a loser, triple the range daily, always in. Forgot the name of the chap, last i heard he was buying an island for 6 million dollars.

    O, yes, he can "SEE" the future.
     
    #13     Aug 19, 2007
  4. Instead of using arbitrary stops, you should be using logical stops, i.e. stops that are adapted to the market volatility.

    for exemple, if you are going long on some instrument, and the last low was 15 tics away from your entry, placing your stop at or below the last low (so minimum of 15 tics) is a logical stop. Yes 15 tics might seem big *and it can be lot bigger sometimes*, but you will only get stopped out only if the market reverses and changes direction, Else the market will wiggle and eventually head your way.

    If you are scared and insist on using arbitrarly set small stops, you will get stopped out often of trades that eventually go your way, wich is extremely frustrating, more frustrating than getting stopped of a trade that is a legitimate loser (i.e. the market completely changes direction)
     
    #14     Aug 20, 2007
  5. Assuming he places limit orders right at support and resistance, this is very much possible. Just need to be an expert at S/R with killer precision and exceptional patience with the right time frame.

    Your accuracy won't be the best but a good run far outweights that.

    The hardest part imho is not finding the play, is actually getting the fill, gotta be quick and think ahead to get a good place in the queue.

    Attached some logical plays based on break of support/resistance and/or double bottoms, triple bottoms etc that require no more than 2 tick stops.

    I did not hand pick this, this is a live ES chart.

    Anek

    PS: Correction, the one that says 2 tick, that's a typo, it was also 1 tick.
     
    #15     Aug 20, 2007
  6. gnome

    gnome

    For those who don't know, that'd be at 5:00pm.
     
    #16     Aug 20, 2007