Stop Using Stop Losses

Probably due to the fact every time I thought I was smarter, or found some sort of short cut – the mkt bitched slapped me back into reality

not really uptight… but definitely dogmatic and anal retentive


RN

 

thanks Joe, actually, I only exit when profits exceed losses by a fixed dollar amount. When I close it out the staetment looks like I am a book following trader.

I just got tired of taking hundereds of small losses and decided I was willing to take the one big loss that so many dread. It comes out about the same.

But I digress, the point of the article and the point of the post was to be cautious, because IMHO the days of getting away with it are coming to an end, due to nothing more than my observation that the book traders are now even talking about trading without stops, and that can't be good for those of us that regularly do it.

 

And lest we overlook always in

=======================================


Some of us (specifically me) ain’t smart enough to program…. soooo

I do the best with what the good Lord gave me


My stops are where the trade failed… not some arbitrary % of the net account

And reversing is always an option, just a matter of it being the next prudent coarse of action

A stop by any other name...., smells just as........

RN

 

How is that defined or evidenced, the way you trade, if not by failure of the entry decision?

 

Defined by what price is doing

RN

 

yes, and as soon as I get my profit, I can hardly wait to take the other side, my downside was I got opinionated on the AUD, if I ever get out of that one alive, I will never be afraid to take the other side ever again.

 

and how is that any different than making a change based on account value?

 

say hi to your dad, he cracks me up, always enjoy his charts

 

Not sure where this question/ comparison came from, but here’s my take


Your statement / question carries the connotation of trading one’s account…., instead of price


Notwithstanding the fact there exists too much opportunity for anxiety, and impulse to get in the way..

You are not trading price…

==================================================================


I do agree however, that after the day is through, one’s PnL is the best indicator for how you traded that day

RN

 

speaking of Bluegill (or as you call them Bream) it's a little hot for that right now, we'll get them again in the fall

My grand daughter is from Africa, and she loves catching them, and no matter how small they are she takes them back to her dad, and he cleans them, because they don't let anything go to waste