Regarding the example in the linked post: If ya holdin overnight and not factoring those 'gaps' down, ya gets what ya play for. Hell, It closed below the fitty on a downhill drag. Whatsa trader want, an eviction notice? The next morning, the intrepid day-trader rised and shined and got back in the game, no worse for wear after a Good Night's Sleep. How? - well maybe lika dis - Trading the T-line - cut to the chase ... Stephen Bigalow https://elitetrader.com/et/threads/...t-right-here-baby.335635/page-15#post-5162295 Investors? For you it comes with the territory, and given all the air displayed on that chart, that is an investor, and as such should not have a stop above that green ma at the closest esp after blowing out the fitty. imho. How to set stops trading - https://www.dogpile.com/serp?q=how+to+set+stops+trading&sc=brboyfJVm23410 Don't wanna use stops. Fine by me... https://www.elitetrader.com/et/threads/stop-orders.365261/#post-5550786
Neither of these two charts need stops >1%. Stop reading trading books and figure it out for yourselves. With regards to the first chart, and with the full benefit of hindsight: why stay long after a failed breakout followed by the short term trend turning down? Also get rid of the moving average lines they are of no use.
I stayed long because that was my plan. I actually considered that trade a success because I followed my plan. MA's may be of no use to you but I use them. And yup I make money year after year.