%% Good; I use tight stops with SPY+ related stuff........................................................................... Some times even wide profit stops stops get hit, they reverse split FNGD @ $2.22 to $44/LOL
%% I see your points; + can be profits more than problems. But my comments dont apply to crypto , or bitcon...... The profits can come 'cause a turtle or cheetah can never out size an elephant or less a herd of elephants. NOT a prediction, not get rich quick..............................................................
Seems like you may "want" to read up on Money management and volatility based position sizing. If you are more technically inclined,you could sub technical levels for vol/atr..
Have you ever watched someone trade breakouts? There may be people on this forum who trade breakouts LIVE and have traders "Look Over Their Shoulder" as they do it. Do they do that for free? Would you? lol. You know more about trading breakouts than you give yourself credit for. Ask around, see if you can find a trader willing to let you follow along as they trade. Will you trade the same way. Hell no. No two traders trade the same way. Never gonna happen. Can you pick up some vital tips from a cat that's been doing breakout trades since moses was a pup? People will happily say hell no save your money dont do it etc. It's easy to say no. For a mere pittance something tells me there is the possibility to watch a cat trade breakouts Live during morning sessions. Axe around if you are ready to pay to play. It ain't me by the way. I like working the pullbacks after a breakout. Do I miss numerous breakouts. Yep, those runaway mofos, but they usually pullback sooner or later, and that's where the ratchet sets its teeth and ... Pullback after a Breakout ...
Thank you to all for your helpful tips on scaling in, and wide and tight stops. I will also consider watching premium live trading as suggested. Having considered this issue some more, in addition to these helpful tips, perhaps the ultimate solution is price action and volume analysis. In other words, when we have reason to believe that we are in an uptrend, or that an uptrend is about to begin, then we should learn to trust our judgment and use a wider stop. In such cases, perhaps the purpose of the stop is simply to prevent a sudden and unexpected drop in price (as happens from time to time). As long as our judgment is correct, there is really no wrong place to buy. It is possible that our judgment is wrong, but such is life. Conversely, when we are in a trading range, when we are in a downtrend, or when we are simply not sure where price is going, then it is necessary to use a tight stop.