Trading circuit breakers ..what dollar amount do you get down and stop trading

Discussion in 'Trading' started by gimp570, Dec 4, 2007.

What dollar amount when you are negative do you quit trading for the day?

  1. $500

    0 vote(s)
    0.0%
  2. $1000

    3 vote(s)
    37.5%
  3. $2000

    1 vote(s)
    12.5%
  4. $3000

    0 vote(s)
    0.0%
  5. $4000

    1 vote(s)
    12.5%
  6. I never stop for the day..just keep trading

    3 vote(s)
    37.5%
  1. gimp570

    gimp570

    What dollar amount do you get down before you stop trading for the day?
     
  2. Until you stop dealing in dollar figures, you're not going to find any answer worth a damn.

    The sign of inexperience in a trader/investor, dealing in absolute dollar figures.

    You need to switch your thinking over to percentages, risk/reward profiles, entry/exits, and overall realized movement v. anticipated movement.

    Until you can work daily and consistently without having to look at your P/L, you will not really get anywhere.


    Good Luck!

    P.S.
    Putting daily goals on your account (like I'll stop when I'm up $X) is only going to handicap yourself in the end.
     
  3. zangari3

    zangari3

    keeping these "stops" for the day has been key for me before I started doing this trading was much harder