I trade with a continous forecast rather than discrete positions with a stop loss. That means I would automatically reverse the trade when the signal goes from long to short. GAT
Geez you get thumbs up for saying something I've been ridiculed about for years. Stop losses are for suckers.
Technically reversing a position is putting a stop on a existing position and entering the opposite. You on the other hand believe in no stops and just hold till profit or just go bust.
Yes never do I ever use stops. I mean in crypto where the market is 24/7 and they actually work (as long as the exchange doesn't crash) then maybe, but with stocks they only work intraday...and if someone exits all positions intraday then they have even bigger problems than stop losses. Even with crypto though my stop loss is built in ..it's called the liquidation level.
%% Amen; find a bigger + better goal than ''to get back a loss'' WHILE you + any do want new account highs; get back in business + some investments /which may make up for trading losses[expences]..................................... I seldom go buy the metals dealer early monday about 5% or 7.77%of the time he opens late. but since a bank is nearby sometimes do anyway [Edit or in some cases like the J Schwager top trader noted ''DONT give UP your day job'']
Meanwhile, other folks (90%) make a single forecast, then update sporadically, not at all, or when emotions warrants it.
i wonder how someone has gathered such factual insights without perhaps? actually having experience the exact details of which were described... this is not a Coincidence.
Having too close of a stoploss or at a bad place is one of the reason most lose money. Matter of fact, most of the losing trade will turn a profit if you wait it out. However, you still have to take stop everytime it hit in case in case market made a complete turn around and your losses turn into a much much bigger lost. In your case, I assume your liquidation level is wider than ATR. You can have high winrate, but occasionally taking huge lost that needs weeks to recover. If you are fine with that style, then I think it's good for you as long as you produce profit in the long term.
I understand this is not an advisable strategy for trader since it takes experience to identify a reversal from chop. Also reversing at your stop often mean you are buying high sell low, any suggestion when it's the best time to do it, and what are some of the rules?