Children, quit worrying about who can "SEE" your STOPS. You guys need to quit blaming others for your trading failures. STOPS are part and parcel in this game, DEAL with it or else go drive a truck (preferably one with brakes for stopping). I think specialists, pit traders care less about any INDIVIDUAL traders stop. ...........now play YOUR game and quit worrying about theirs. ...
If it was true that the market was always "gunning" for the stops you put in, then use them to get great entries going the other way. Want to buy 5 lots of X at 100 while it's trading at 101? Put a sell stop for 1 lot at 99.90 and bid 100 for 6.
If that were the case all of the retail investors would be making a killing and the institutions would be getting slaughtered. I think you will find the opposite to be true. I am playing my own game. I am only stating my reasons why I play the game the WAY I do. I have statistics that at least prove to myself that mental stops are the better way to go. For those that are not sure I suggest they do their own test, but I am extremely satisfied.
Has anyone here tried using standard deviation in placing their stops? In other words, rather than choosing a random number (like a dime) below support, has anyone tried placing stops at say, support - (1.5XSD) ? I have no means to backtest this and not having a lick of programing knowledge I wouldn't even know how, but I may start making it a rule. I think it might reduce the number of "shakeout" stops.