Stop to BE then what?

Discussion in 'Risk Management' started by listedguru, Jun 30, 2009.

  1. I am having a heck of a time staying in my winners. Once I get my stop to BE then I get confused (LOL). Basically I'm talking about daytrading stocks and want to capture as much of the trend as possible. What is the best method for doing this after getting the stop to BE?

    Is a trailing stop (mental) the best way? What about a hard target (and selling when it hits that target)? Maybe something else? I'm just looking for ideas to finally get over this mental block I have...

  2. JamesJ


    sell just a part when you would normally take the whole profit,
    this way you feel much more comfortable, and you should be able to let the rest run with a pretty far trailing stop or stop at entry.
  3. Learn some methods on how to trail stops.

    I know, check youtube. :)
  4. Nexen


    Then you continue to trail the stop as you hope to catch a good winner.
  5. So it sounds like everyone here is advocating using a trailing stop. Any other suggestions? How wide of a trailing stop are you using for daytrading?

  6. We use structure to trail stops. For example once we've gotten our 1st, 2nd and 3rd target and we're looking for a runner we look at market structure.

    If you need any help, contact me, I'd be more then happy to help you.
  7. Nexen


    Very wide and based on S/R not percentage or dollars or any of that nonsense.
  8. can you expand on this?
  9. DrEvil


    Keep your position as long as it is correct. You need to decide yourself how you would define when a position is correct. Whenever you find that your postion is not correct move your stop in tight.

    Thanks POP.