romik, you're right. Because it has to come down to the individual trader as to what he is comfortable with. I think, it is those who are a little more risk averse that prefer to have a hard stop. I think, if you really want to swing for the fences, I think you need to have a system that is durable and not restricted/constrained by the noise.
probability factors increase secondary to short term memory formation of pain/pleasure principle in the participants. It can be used on a intraday timeframe, unless new participants enter towards the close. The new participants don't have the pain/pleasure registered and are trading on a longer term timeframe.
man..who are you? I agree with most every post you make on this board... Thanks for the education...your posts are appreciated... ElectricSavant
the reason forex is so hard to trade is because new participants keep entering as the timezones change since its a 24 hr market. The pain/pleasure hasnt conditioned them, and thats why the sessions are broken down into Asian/Europe/New York. But New York has more price sentiment stability and trading dynamics are more predictable.
I would love to maybe someday. I just love everything about trading. And thats what drives me. I would honestly spend more time then what I do now, if it werent for other considerations. And its not the money aspect of it. regards, Chris
This statement, by itself, is false. I agree with this statement only with the following added: 1. If your stop size does not match you time frame. 2. You're entries are poorly selected. 3. You have the experience and mental horse power to get out of any given trade at any time, period. Otherwise, pre-set stops are not put in place to "protect" your trade.... they are put in place to protect you from yourself.
Hey.. I agree with your disagree. But, I disagree with your claim as to why it is false. I would say it depends on your experience, and the robustness of your system. I wouldn't recommend trading without a stop to a novice, nor someone that is marginally breakeven.
Trading without a stop is suicide. Of course the stop should be a reasonable distance from ATR otherwise you are inviting the greedy market makers to take you out. They are good at "fishing"! http://lauristonletter.blogspot.com/