MoneyTec Traders Community Forum - View Single Post

Fire580 · 03-11-2003, 19:26

I have always felt that traders placing stops at 20 - 30 - 40 pips with no technical reasoning was a mistake. I always check everything within range of such an entry for the most significant "stop" area..... fibs.previous market structure highs lows as well as trend lines are im my opinion the most important.
In reality I do this BEFORE entering the trade - sometimes have to let an otherwise good entry go by due to a realistic stop being too far away. That's the name of the game in my opinion entering at the right level with a reasonal stop - you'd be surprised how many of the big chart traders have much more reasonable stops then the little guys think (because they enter at the right time)

03-11-2003, 19:26	#2
Fire580 Determined Member Join Date: Jun 2002 Posts: 188 Downloads: 0 Uploads: 0 Rep Power: 0	Stops I have always felt that traders placing stops at 20 - 30 - 40 pips with no technical reasoning was a mistake. I always check everything within range of such an entry for the most significant "stop" area..... fibs.previous market structure highs lows as well as trend lines are im my opinion the most important. In reality I do this BEFORE entering the trade - sometimes have to let an otherwise good entry go by due to a realistic stop being too far away. That's the name of the game in my opinion entering at the right level with a reasonal stop - you'd be surprised how many of the big chart traders have much more reasonable stops then the little guys think (because they enter at the right time) __________________ Respectfully Fire580 Learn Your Mistakes Last edited by Fire580 : 03-11-2003 at 19:28.