got to move fast, think fast. one man's stop is anther man's entry i can't pick the arbitrary stop 15 or 30 mins, or 24hrs away, i am not that good and i doubt you are too
I agree, I can't either. My stops are tight. The stop for my trade that I mentioned was 4-ticks (had I been a little more patient I could have managed a 2-tick stop). Can't imagine trading with a greater than 5-pt stop in ES. Hence my curiosity and my initial question. Will let you get back to trading. Thanks for your response. All the best. Regards, Monoid.
I apologize for not being clear. What I meant to say was that I enter based on a level holding. If that level does not hold, then the premise for my trade is invalid. So, I try to enter as close to that level as possible. Believe me, if I can get a fill at the level I expect price to hold I will more than gladly take the 1-tick risk trades day-in and day-out (a little bit of exaggeration, I would still want to give a tick leeway ... so make it 2-tick risk)! But, in my experience, I have gotten such fill only twice. So, no reason for wishful thinking. If my risk is more than 6-ticks, I let the trade go (won't chase it). Regards, Monoid.
at this price point, i let those that like to buy tops ans those that like sell them hash it out. i'll pick up the pieces