four
5,087 posts
msg #103148
- Ignore four
modified |
10/29/2011 12:23:15 PM
Scenario 1:
No stop loss on the day of trade.
-- OR --
Scenario 2:
Immediately place a stop loss on the day of trade.
Thanks for your responses.
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gmg733
788 posts
msg #103149
- Ignore gmg733 |
10/29/2011 1:39:33 PM
Depends on trade plan and methodology. But you knew that.
Place stop at the same time of your order. Several ways to set stops. Since I look for swing points I set stop below swing point low (or high for a short). This was my method. I trade options almost exclusively and there are other ways of controlling risk with options. So no stops for me anymore.
The only thing a stop loss guarentees is a loss. :)
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miketranz
978 posts
msg #103153
- Ignore miketranz |
10/29/2011 5:34:09 PM
Let's put it like this,how much money do you want to lose?
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jimvin
179 posts
msg #103154
- Ignore jimvin |
10/29/2011 7:44:40 PM
My trading style is not very refined: in on Monday at open buying at market price, out on Friday at 3:30; 10 stocks total using a base investment of 100K.
That being given as a qualifier, I use a trailing loss stop of 5% for each stock which I set at about 9:45 Monday morning when my buys have gone through.
It doesn't kick in often, but it's saved me a lot of money in rough markets, especially wihen taking a chance on OTCBB picks...
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