Using % P&L for Mental Stop Loss

Discussion in 'Strategy Development' started by Max9, Jul 9, 2010.

  1. Max9

    Max9

    Hi,
    I've only been scalping stocks for the past 8 months. I am accustomed to using a % P&L on the individual trade, and when my stop loss reaches a certain % I get out of the trade.

    Does most scalpers use a % P&L for their mental stop loss?

    I'm asking this because I'm checking out LightSpeed Trader, and I"m really surprised they don't have a % P&L on their Position window... they have what they call a 'Open P&L', showing the dollar gain or loss, but not a '% gain or loss'.

    Please let me know what you think... Thanks, Max