↑↓TriXx↓↑
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I fly by the seat of my pants. I don't use stops.
If my entry level receives a closing price above/below then it's food for thought and I have a decision to make. But unless that happens its all good imo.
Don't like nor use text book stops.
↑↓TriXx↓↑
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Well everyone has a stop one way or the other , and if you dont use one your stop is the margin call ...
Nice nickname BTW
12 years trading and probably 4-5 of them full time. Never had a margin call in all that time my friend.
I have my strategy, I know my risk tolerance and it works for me perfectly well.
itspossible
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Morning gentlemen-jesus that dax is up again-the TOP is out there
hereward the wake
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↑↓TriXx↓↑;2422232 said:
P
postman
↑↓TriXx↓↑;2422260 said:
Let me get 2 comments in before darktone.
1. feeling and regret .... psyche. Your 'head' messing with your 'system'.
2. Well done any profit is a good profit.
hereward the wake
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That's 10 years experience for ya
darktone
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↑↓TriXx↓↑;2422232 said:
And then there were two.
I dont use stops either. I like to scale in via limit, manage size as the market allows. Scale out/all out for profit/loss via limit. Trading with the bigger trend, fading the smaller trend.
Are you all in all out?
If you could define your dislike of a 'stop' in a few words?
cheers
d
↑↓TriXx↓↑
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To clear something up here before I start getting more posts about my "risk".
I'm fully aware of my risk at all times, I do not get margin calls nor do I risk all of my account. I have a risk tolerance level and I follow that as part of my strategy.
I do not use stops because every stop that is placed is seen on the order books and if there's a lot of stops there (blocks) then those will be targeted most of the time. Not only that, but having a stop imo leads to perfectly good trades being run out of town early or premature by either stop runs, sentiment measurements or volatility.
I tend to use a 60pt manual buffer which I base my risk on. Every time I enter a trade I risk 1.5% based on that manual 60pt buffer. If price moves against me by 40-50pts its not a problem as I'm inside my comfort zone, if price moves against me by 60pts which is my buffer size then I have a decision to make, its not a straightforward exit. I have to decide if I think the S&R next to my 60pt buffer is strong enough to hold and cause a bounce, I have to decide about the price action, it it looking like its going to blow my 60pt buffer out the water or is it looking primed for a bounce.
These are questions I ask if I allow price to move past my entry price in the first place which isn't all that often. Most of the time I tend just to make an exit when price prints a strong close on the other side of my entry level, but there has to be other technical reasons as well, not just a close. So this is very often well and truely inside my comfort zone of the 60pt buffer. I have no stress with trading as my risk is 1.5% and I have at least a 60pt space to factor in volatility, stop runs and premature stop outs.
I'm fully aware that people like to set stops and set their risk based on that, they may risk 20pt on one trade and then 35pts on another trade and then maybe 15pts on another, thats all fine and dandy if thats what they like to do and more importantly works for them.
But risk is defined and has a tolerance level and I have a strategy which works for me very well.
I should also mention that I'm a effect trader rather than a cause trader...
I enter trades at strong levels without confirmation which often allows me to profit from the effect while most other traders wait for a cause to enter.
Perfect example of this would be me entering bang on a support level at say 9,000 and then 15 minutes later the cause traders enter at 9,035 because of a pin-bar.
Their stop will likely be placed at 8,990ish around 40pts, and imo is at high risk of a premature stop out on a re-test/overshot of the support. But my 60pt manual buffer zone would allow for a risk tolerance of 8,940 and more based on my analysis if reached as I entered at the level as I attempt to trade the 'effect' and not the 'cause'.
Hope this all makes sense to you, it works for me but might not work for others. Each to their own as they say.
I'm fully aware of my risk at all times, I do not get margin calls nor do I risk all of my account. I have a risk tolerance level and I follow that as part of my strategy.
I do not use stops because every stop that is placed is seen on the order books and if there's a lot of stops there (blocks) then those will be targeted most of the time. Not only that, but having a stop imo leads to perfectly good trades being run out of town early or premature by either stop runs, sentiment measurements or volatility.
I tend to use a 60pt manual buffer which I base my risk on. Every time I enter a trade I risk 1.5% based on that manual 60pt buffer. If price moves against me by 40-50pts its not a problem as I'm inside my comfort zone, if price moves against me by 60pts which is my buffer size then I have a decision to make, its not a straightforward exit. I have to decide if I think the S&R next to my 60pt buffer is strong enough to hold and cause a bounce, I have to decide about the price action, it it looking like its going to blow my 60pt buffer out the water or is it looking primed for a bounce.
These are questions I ask if I allow price to move past my entry price in the first place which isn't all that often. Most of the time I tend just to make an exit when price prints a strong close on the other side of my entry level, but there has to be other technical reasons as well, not just a close. So this is very often well and truely inside my comfort zone of the 60pt buffer. I have no stress with trading as my risk is 1.5% and I have at least a 60pt space to factor in volatility, stop runs and premature stop outs.
I'm fully aware that people like to set stops and set their risk based on that, they may risk 20pt on one trade and then 35pts on another trade and then maybe 15pts on another, thats all fine and dandy if thats what they like to do and more importantly works for them.
But risk is defined and has a tolerance level and I have a strategy which works for me very well.
I should also mention that I'm a effect trader rather than a cause trader...
I enter trades at strong levels without confirmation which often allows me to profit from the effect while most other traders wait for a cause to enter.
Perfect example of this would be me entering bang on a support level at say 9,000 and then 15 minutes later the cause traders enter at 9,035 because of a pin-bar.
Their stop will likely be placed at 8,990ish around 40pts, and imo is at high risk of a premature stop out on a re-test/overshot of the support. But my 60pt manual buffer zone would allow for a risk tolerance of 8,940 and more based on my analysis if reached as I entered at the level as I attempt to trade the 'effect' and not the 'cause'.
Hope this all makes sense to you, it works for me but might not work for others. Each to their own as they say.
Last edited:
darktone
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Well everyone has a stop one way or the other , and if you dont use one your stop is the margin call ...
Nice nickname BTW
You sure about that?
10k account running 5% marg buys dax 9139 @ 1ppp. This will be the only position open.
Costs aside, at what level would margin call occur?
hereward the wake
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bollies getting tight
hereward the wake
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it's these trousers
P
postman
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P
postman
Dow still marching higher. Its dragging the dax up with it rather than Dax wanting to go up with fundamentals.
