True. You never use stops? A focus in this thread have been low risk entries and taking small losses, so it's a bit odd that you don't use stops. Of course, there's many ways to trade, but that's not the impression I had from the trading style espoused in this thread. Personally, my trading improved greatly after I allowed for more inexactitude and used wider stops. Not wide for the sake of it, but wide enough that I'm not stopped out on meaningless countermoves. Right now, my conviction to the long side isn't strong enough that I'm interested in taking on a large stop anyway. I'm taking a tick here. Might be stopped out on noise, but when the conviction isn't that strong, why bother.
If you’re willing to accept a 10k drawdown on an account (presumes a larger account), why even trade the micro MES instead of ES? You expect to average in (at worse than initial trade prices), which assumes your initial trade may be wrong/ early (calling a top etc), so why even take the initial trade? Or why not use ES?
the mes allows you more flexibility..i can close some if i want..but the main thing is that it is easier on your mind..and making money trading is all about your mind !
I locked in a tick after that last push higher. No need to marry a trade. Well, it's my birthday today. So, I was hoping I was lucky enough to get 4350 before I left the building. But 1 tick profit is better than a loss.