Stop Loss poll

[NeilM2007]

What size stop loss do you prefer to usually have on your trades?

[socrates]

Neil, you shouldn't use a stop based on some random number. It must be related to the chart you using and within a percentage factor of sound MM.

Therefore some trades won't be tradable if a trader sticks to the rules.

[bearprofits]

That makes too much sense for these forums.

Well said, but not what the masses want to hear.

bear

[TRADE]

i dont use stop losses, the market tells me when to get out when it is time go the other way,

[smitht7993]

So what happens if your PC dies or you loose your connection!

Always use a stop loss!

[TRADE]

Originally Posted by smitht7993

So what happens if your PC dies or you loose your connection!

Always use a stop loss!

I will get out my screwdriver, open her up and diagnose the problem, drive to a friends and order more parts using his internet connection and PC(cheaper to buy off the net), when they arrive I will install and get her working again. If the internet connection has also failed, I call my ISP and get them to send over an engineer or fix the problem remotely. I wont even bother checking my positions at my friends.

when the problem is sorted I will initialise my trading platform and find out what orders have been filled and which ones have been closed, how much I have made or what my unrealised loss/profit currently stands at, what my exposure is and ultimately place more orders in anticipation for various market outcomes and improve my position given my current position in the market.

stop losses are only a necessity if you plan on being over leveraged and trading too huge a position size too close to the markets action.

why would you need a stop loss if you have accounted for a 1000pip price deviation in your risk model??? it could be executed manuall as and when the time arrived to exit. you are not at the whim of every pip being bid or offered by a few traders.

always do your own thinking and always do your own homework..not what others are telling you you should be doing or what they have read you should be doing.....because if it hasnt come from inside your head in the first place, it probably wont work as it was intended to.

[zonsb]

Unanticipated incapacitation in the hospital for days, weeks or months. The market can move well past a 1000 points. Using you 1000pip qualifier you set so no rationalization about your incapacity negating the fact that the market may move more than 1000 pips while you're incapacitated.

Always have alternate plans for the unexpected.

[TRADE]

Originally Posted by zonsb

Unanticipated incapacitation in the hospital for days, weeks or months. The market can move well past a 1000 points. Using you 1000pip qualifier you set so no rationalization about your incapacity negating the fact that the market may move more than 1000 pips while you're incapacitated.

Always have alternate plans for the unexpected.

thanks for your advice, I will take it onboard. although without knowing my strategy or exit criteria, I think you are not informed enough to comment.

who do I need to rationalise my 1000 pip qualifier to??, I dont need to rationalise it with anyone here, fortunately for me, otherwise I would get the thumbs down by the majority of losers who trade very public domain methods and mainstream tactics......and probably lose in the process but come here and try and convince others they are profitable.

the unexpected has been accounted for and more importantly the probabilities for such events mentioned have also been identified,

I dont care where the market goes, because I manage my risk, nothing more nothing less, trading is all about the reallocation of risk from one trader to another and there is more than 1 way to skin a cat......

good luck in your trading,