The hard road to consistency

Discussion in 'Journals' started by calmeurotrader, Oct 1, 2012.

  1. ok, you do it your way, I'll do it my way. Calm uses very tight stops, tighter than what I would be comfortable with. All I'm saying is when you are getting stopped out all the time, which he is, the very worst thing you can do is widen the stops. Better to tighten them up, since you are probably going to get stopped out anyway.
     
    #271     Nov 29, 2012
  2. it's all math, and the only thing for certain right now is, you put it on, you get stopped out, so why not bet on that?

    And the best way to improve on that bet is to tighten the stop.

    And you might as well increase a little size just in case you are wrong.
     
    #272     Nov 29, 2012
  3. OK oldtime... humor me:

    Why do you suppose he is getting stopped out all the time? What are some reasonable explanations?
     
    #273     Nov 29, 2012
  4. I will buy that for a dollar.
     
    #274     Nov 29, 2012
  5. there are times when the market isn't going anywhere until every stop is hit, wide, medium narrow or tight. It will just bounce around until it hits every trader who has a stop in. Doesn't matter where that stop is. The winner of the losers is the guy with the tightest stop.

    After that stops really hurt you.
     
    #275     Nov 29, 2012
  6. yesterday P/L: 288$
     
    #276     Nov 30, 2012
  7. long 70K 29995 stop 895 target 3125
     
    #277     Nov 30, 2012
  8. stop moved to 2998, target unchanged
     
    #278     Nov 30, 2012
  9. Oldtime,
    Let's say you have a long position and you didn't put a hard stop in place. Euro drops 300 pips in a day due to a very bad news from Greece or Portugal. If you decide to close the position it means that you have just executed a mental stop to protect your capital. If you don't close...well it might not come back for months...
    Maybe you prefer to adjust your position somehow ?
     
    #279     Nov 30, 2012
  10. Thanks. This is what I am trying to do. Risk management above all . Simple but not so easy...
     
    #280     Nov 30, 2012