what is your stop loss? on a sour trade, how much do you allow yourself to lose before you sell your position?... 1/5 ? 1/8? ... what? thx for your posts
I never use stp losses: when I am in a position that's going against me I try get a grasp at the range and wait patiently for the best price possible (under the circumstances) to get out; this way many trades that would have ended as losers with a fixed stop are instead closed with a very small loss and sometimes at breakeven if not with 1-2 cents gain. And as a rule of thumb I try not to take a loss bigger than 2% of my account.