The hard learned Stop Loss lesson

[Claudia123]

Of course that's not true. I'm well aware of other ways but I choose to trade a way that plays to my strengths, away from my weaknesses and more importantly allows me to lead the kind of life I want to lead.

Surprised you rose to the bait so easy !!! Anyway be more constructive as you normally are - thoughts for cable next week ?

 

[trader_dante]

Surprised you rose to the bait so easy !!! Anyway be more constructive as you normally are - thoughts for cable next week ?

I have an idea of what I think will happen but it makes no real sense to post it Claudia as I trade what I see not what I think. I have no real bias going into the week and will most likely remain on the sidelines until we get a test of 1.5530 area.

 

[new_trader]

How tight on for example a currency pair?

I don't trade forex, I only trade the ES. Around 2 years ago I was trading with a 1.75 point STOP and now I trade with a 1.25 point STOP and I am happy with that.

 

[new_trader]

I have an idea of what I think will happen but it makes no real sense to post it Claudia as I trade what I see not what I think. I have no real bias going into the week and will most likely remain on the sidelines until we get a test of 1.5530 area.

I thought I should clarify that the rep was not an endorsement of the trade call! I have highlighted in red what the rep was for!

 

[trader_dante]

I thought I should clarify that the rep was not an endorsement of the trade call! I have highlighted in red what the rep was for!

LOL - that's got to be the first time I have been repped for admitting there is no sense in me giving my opinion.

Well, my rep to you was because if your stop is getting tighter, then you are becoming more proficient at picking your entries. Good trading to you.

 

[N Rothschild]

new_trader i take it with your god like market skills you never ever get whipsawed and stop hunted like every other trader on the planet with your super tight stops?

 

[new_trader]

LOL - that's got to be the first time I have been repped for admitting there is no sense in me giving my opinion.

Well, my rep to you was because if your stop is getting tighter, then you are becoming more proficient at picking your entries. Good trading to you.

LOL!

Thanks TD. I didn't know how to word my post to make it sound good, I just didn't want people to think I agreed with your call because I don't trade forex. That is what I should have written. I absolutely agree with what you said about not taking a guess or shot in the dark unless you are sure. I also agree with not turning this into another thread full of colourful charts riddled with pretty coloured lines explaining peoples thoughts for cable next week!

 

[new_trader]

new_trader i take it with your god like market skills you never ever get whipsawed and stop hunted like every other trader on the planet with your super tight stops?

Why don't you try listening and learning instead of polluting threads with your idiotic comments? You really make me reluctant to give answers with this moronic attitude of yours. For your information, I very, very, very rarely get 'whipsawed'. Morons get whipsawed because they are impatient and stupid and ignorant and thick and use wide stops and take guesses and do many things that the ill-informed public does. Does that answer your question?

 

[N Rothschild]

learn what? all i see is you thinking its hilarious that some peoples trades arnt instantly profitable.

and accusing me of polluting threads is rich coming from you with your condescending attitude and pink font

 

[cpngtw]

Why don't you try listening and learning instead of polluting threads with your idiotic comments? You really make me reluctant to give answers with this moronic attitude of yours.

Dude, that's EXACTLY what I wanted to tell you

Don't you know that time stop is just a trade's parameter, be it 5 tick bars, 5 minute bars, 15 minute bars or 30, whatever. The whole point is you have a time window to know your trade is not right and then you should get out of the trade instead of waiting for the stop lost get hit.

How long your time window is depends on what your style is. If you have 5min or 15 min chart as your main chart then it's should be much smaller than someone trading on daily chart.

Remember your style is not THE ONE STYLE that everyone has to follow

And by the way, how a newbie comes here asking about stop lost having the "deadly accuracy" (assume you have one) that you have and don't need a longer time window to know if he is wrong & get out?

Get it dude?

 

[new_trader]

Dude, that's EXACTLY what I wanted to tell you

Don't you know that time stop is just a trade's parameter, be it 5 tick bars, 5 minute bars, 15 minute bars or 30, whatever. The whole point is you have a time window to know your trade is not right and then you should get out of the trade instead of waiting for the stop lost get hit.

How long your time window is depends on what your style is. If you have 5min or 15 min chart as your main chart then it's should be much smaller than someone trading on daily chart.

Remember your style is not THE ONE STYLE that everyone has to follow

And by the way, how a newbie comes here asking about stop lost having the "deadly accuracy" (assume you have one) that you have and don't need a longer time window to know if he is wrong & get out?

Get it dude?

I tend to ignore people who start their sentences with 'dude'. If I want to know whether I should buy an XBOX360 or Playstation 3 I will ask for your advice, dude.

 

[cpngtw]

I don't trade forex, I only trade the ES. Around 2 years ago I was trading with a 1.75 point STOP and now I trade with a 1.25 point STOP and I am happy with that.

Wonder how long did it take you 2 years or 3-4 years ago when you just started to trade Don't say you knew exactly where and when to place the entry

 

[cpngtw]

I tend to ignore people who start their sentences with 'dude'. If I want to know whether I should buy an XBOX360 or Playstation 3 I will ask for your advice, dude.

Ah now come the ignore part My apology, Sir

 

[new_trader]

learn what? all i see is you thinking its hilarious that some peoples trades arnt instantly profitable.

and accusing me of polluting threads is rich coming from you with your condescending attitude and pink font

All you see is the end result like the size of my stop and make an ignorant comment. You don't consider the weeks, months and years I have spent working on my methodology do you? Of course not!

What I think is hilarious is that people talk about R/R ratio, Support and Resistance, Pretty coloured lines and magic formulas and yet those very same people will throw all that out of the window if the trade doesn't work out within 30 minutes...That is hilarious. You know why? Because reality dawns on them when it is too late and irrevocable. These wide stop pundits have had 30 minutes to sit and regret their entry and contemplate the full impact of the loss and they don't want it. See? A loss that they happily accepted and calculated to 5 decimal places with their magic formulas before they committed to a trade is suddenly useless when their trade has been drifting in negative territory for a while. I find that hilarious. All the bravado about letting the market 'breathe' and other nonsense spouted in this forum is useless after 30 minutes or more in a trade. Do you see or not see?

And for your info, it is purple not pink.

 

[Windowsill]

Dude, that's EXACTLY what I wanted to tell you

Don't you know that time stop is just a trade's parameter, be it 5 tick bars, 5 minute bars, 15 minute bars or 30, whatever. The whole point is you have a time window to know your trade is not right and then you should get out of the trade instead of waiting for the stop lost get hit.

How long your time window is depends on what your style is. If you have 5min or 15 min chart as your main chart then it's should be much smaller than someone trading on daily chart.

Remember your style is not THE ONE STYLE that everyone has to follow

And by the way, how a newbie comes here asking about stop lost having the "deadly accuracy" (assume you have one) that you have and don't need a longer time window to know if he is wrong & get out?

Get it dude?

Oh right.so a trade which may last all day has to start with a stop thats massive...forgive me if I dont agree. You don't have to think in terms time frames you know. If you have a screen that 6 feet wide .....what time frame would you then use!!

 

[cpngtw]

All you see is the end result like the size of my stop and make an ignorant comment. You don't consider the weeks, months and years I have spent working on my methodology do you? Of course not!

What I think is hilarious is that people talk about R/R ratio, Support and Resistance, Pretty coloured lines and magic formulas and yet those very same people will throw all that out of the window if the trade doesn't work out within 30 minutes...That is hilarious. You know why? Because reality dawns on them when it is too late and irrevocable. These wide stop pundits have had 30 minutes to sit and regret their entry and contemplate the full impact of the loss and they don't want it. See? A loss that they happily accepted and calculated to 5 decimal places with their magic formulas before they committed to a trade is suddenly useless when their trade has been drifting in negative territory for a while. I find that hilarious. All the bravado about letting the market 'breathe' and other nonsense spouted in this forum is useless after 30 minutes or more in a trade. Do you see or not see?

And for your info, it is purple not pink.

poor soul

 

[N Rothschild]

i love how you tar everyone with the same brush..except yourself.

 

[HaloTrader]

If I want to know whether I should buy an XBOX360 or Playstation 3 I will ask for your advice, dude.

... Not me?

 

[cpngtw]

Oh right.so a trade which may last all day has to start with a stop thats massive...forgive me if I dont agree. You don't have to think in terms time frames you know. If you have a screen that 6 feet wide .....what time frame would you then use!!

You have the right to disagree, because there are unlimited ways to trade, there is not ONE that everyone has to follow, as I said earlier. Does that address your concern?

And btw, time is just a parameter, it's not ALL.

 

[rawrschach]

So, n_t, if I were long ES at 700 on 10/3 and it didn't make it up to 900 in the first few seconds I should admit that I'm wrong and take my loss?