Boring

[anley]

One of the most important points about using a stop is that it forces you to look at the potential risk of a position, and how much you will lose if your view turns out to be incorrect.

And remember, this is a game of risk FIRST and profit second. For those of you that don't appreciate this, then do yourself a favour and get out now while you've still got some money left.

The other critical point about using a stop is that its level is normally decided BEFORE the trade is put on, therefore it's an objective level rather than your judgement being clouded in the heat of the battle (when a position is running) - for example 'oh ****, this trade is clearly wrong, where shall I get out?'

But for those that don't like them then realise this - Your days as a trader are numbered with a probability of about .95 as the market IS coming to get you at some stage, perhaps today, maybe next Tuesday or maybe not until 2016, but that day is coming...........

Now, there are always exceptions to the rule but not many.

PS. There's also a good quote about trading, I don't know who said it but it goes like this -

"More money has been lost in the markets by people NOT using stops than all the other reasons put together".

 

[Bint_Crusher]

One of the most important points about using a stop is that it forces you to look at the potential risk of a position, and how much you will lose if your view turns out to be incorrect.

And remember, this is a game of risk FIRST and profit second. For those of you that don't appreciate this, then do yourself a favour and get out now while you've still got some money left.

The other critical point about using a stop is that its level is normally decided BEFORE the trade is put on, therefore it's an objective level rather than your judgement being clouded in the heat of the battle (when a position is running) - for example 'oh ****, this trade is clearly wrong, where shall I get out?'

But for those that don't like them then realise this - Your days as a trader are numbered with a probability of about .95 as the market IS coming to get you at some stage, perhaps today, maybe next Tuesday or maybe not until 2016, but that day is coming...........

Now, there are always exceptions to the rule but not many.

PS. There's also a good quote about trading, I don't know who said it but it goes like this -

"More money has been lost in the markets by people NOT using stops than all the other reasons put together".

Anley, you mean that on every single trade you asses yor risk, define your profit taking level, have a plan and stick to it?

 

[Pazienza]

Anley, you mean that on every single trade you asses yor risk, define your profit taking level, have a plan and stick to it?

Yes.

 

[tomorton]

Anley, you mean that on every single trade you asses yor risk, define your profit taking level, have a plan and stick to it?

Yes.

 

[Bint_Crusher]

Well fork me with a big black broomstick. I learn something new everyday. Thankyou you wonderful people.:clap::clap::clap::clap::clap::clap::clap::clap::clover::clover::idea::idea::idea::idea:

 

[Pazienza]

Well fork me with a big black broomstick. I learn something new everyday. Thankyou you wonderful people.:clap::clap::clap::clap::clap::clap::clap::clap::clover::clover::idea::idea::idea::idea:

Is a broomstick thick enough for you? I would have thought you'd want more girth.

And length.

Do you not plan your trades and go in with a defined stop area?

 

[Bint_Crusher]

Nah mate, stops are for girls and queers.

 

[Pazienza]

Nah mate, stops are for girls and queers.

 

[wardtom084]

rob hoffman did that, 18 months of winning trades with no stops, then dropped 300k in one trade (60% of his account;day trade)

i.e. he had too big of a lot it he lost that much at one time

 

[Pazienza]

i.e. he had too big of a lot it he lost that much at one time

Sort of. He was trading TF and the dumb motherf***er kept buying all the way down. He started with 1 car and ended up with 850 cars before his broker pulled the plug (I'm not making this sh1t up, the whole saga is over on ET if you want to check it out).

 

[Bint_Crusher]

Oh Paz give me a break with the forkin Jargon. Talk about points and contracts.. Nobody is going to lay you on this site.

 

[Pazienza]

Oh Paz give me a break with the forkin Jargon. Talk about points and contracts.. Nobody is going to lay you on this site.

I tell your mother the same thing. She always goes on about "hookin", "turning a trick", "of all my Johns, you've got the biggest c0ck". I sometimes wish she would just drop the jargon of her profession and talk like a normal person.

 

[Bint_Crusher]

You are confusing me with Rathcoole_Exile. He lives in North out of town Belfast I live in the Eastern region.