Millenium-Traders Really Use a $1 Stop?

Discussion in 'Trading' started by version77, Dec 5, 2001.

  1. gary


    these jokers used to recommend a 3 pt. stop. $20.00 or $200.00 stocks it didn't matter. It was kinda fun spotting all the holes in their bucket. But sad to talk with some of the people blowing up their accounts. Did they fluff their posts? I think yes.

    Gary McDowell
    #21     Dec 7, 2001
  2. I believe I took my trial when they were using three point stops. I never used the three point stop, I thought that to be a bit wide. When I asked them about this, they simply stated use whatever stop you wish but three points is what they like to use. I have to admit this puzzles me. But they recently changed to the one point stop at the request of their members, this is what they said. i recall their trial period where the point stop was implemented, they wanted to see if it worked well. Apparently it did, as they now use it. One other thing has just occurred to me, perhaps the great runs we used to see in stocks during the "bubble days" with wide intraday ranges had something to do with their use of a large three point stop? You know what I mean, stock goes red....with wide swings just wait till it chops back.

    What kind of stops do you guys use for daytrading? A "mechanical" fixed point loss? Or certain indicator(s)? What?

    Enjoy the weekend guys & gals!

    #22     Dec 8, 2001