At first I was losing ...

[Yankee_Trader]

I started out with a $1000 acct at Tradovate and did terribly. Closed the acct. Then I did some thinking about how it works.

I think it's all about risk management. Let the winners run and limit the losses with a stop that is never adjusted to give the trade more breathing room. That stop is only adjusted to preserve profits.

I'm now trading at Ameritrade with a lot more capital to back my positions. I'm doing better than I ever hoped.

 

[mikeriley]

You never adjust your stop loss?
Not even for volatility and/or different market conditions?

I always adjust mine for losses. It's an ole school method
but still works. For a loss I adjust stoploss to 1/2 of
current risk.

Example: If I'm trading 2% risk per trade,
after a loss I change it to 1%

If I lose again, I follow the same procedure.

This method keeps my risk tight for
the inevitable losing streaks that we
all experience.

Risk protocol stays there until I return to break-even.

It's a grind, but worth protecting the most
important element.🙂

 

[jmhurst_blessed]

I started out with a $1000 acct at Tradovate and did terribly. Closed the acct. Then I did some thinking about how it works.

I think it's all about risk management. Let the winners run and limit the losses with a stop that is never adjusted to give the trade more breathing room. That stop is only adjusted to preserve profits.

I'm now trading at Ameritrade with a lot more capital to back my positions. I'm doing better than I ever hoped.

Are you placing stops on 15 minutes charts? What time frame are you trading? I dont think it is advisable to place stops on 15 minutes charts as you would be easily stopped out. Trades on 15 minutes charts "need to be monitored with silent stops". What do you think?

 

[jmhurst_blessed]

You never adjust your stop loss?
Not even for volatility and/or different market conditions?

I always adjust mine for losses. It's an ole school method
but still works. For a loss I adjust stoploss to 1/2 of
current risk.

Example: If I'm trading 2% risk per trade,
after a loss I change it to 1%

If I lose again, I follow the same procedure.

This method keeps my risk tight for
the inevitable losing streaks that we
all experience.

Risk protocol stays there until I return to break-even.

It's a grind, but worth protecting the most
important element.🙂

Do you think it is advisable to place stops on 15 minutes charts? I dont think it is based on my comment above. Would appreciate your perspective.

 

[MoxinFutures]

You never adjust your stop loss?
Not even for volatility and/or different market conditions?

I always adjust mine for losses. It's an ole school method
but still works. For a loss I adjust stoploss to 1/2 of
current risk.

Example: If I'm trading 2% risk per trade,
after a loss I change it to 1%

If I lose again, I follow the same procedure.

This method keeps my risk tight for
the inevitable losing streaks that we
all experience.

Risk protocol stays there until I return to break-even.

It's a grind, but worth protecting the most
important element.🙂

I only really move my stop-loss if I'm moving it to break even

I feel like if you're widening your stops it can be easy to keep widening them until your over risking on your trade

 

[Larisa]

I started out with a $1000 acct at Tradovate and did terribly. Closed the acct. Then I did some thinking about how it works.

I think it's all about risk management. Let the winners run and limit the losses with a stop that is never adjusted to give the trade more breathing room. That stop is only adjusted to preserve profits.

I'm now trading at Ameritrade with a lot more capital to back my positions. I'm doing better than I ever hoped.

Nice work turning things around 🙂