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Fearless, if I was to answer your question in 1 sentence then I would say this, a stop protects capital, it's not there to make you a cup of tea :) Some people think that having hard tight stop somehow resolves the above, no it doesn't ImPO, it just stops you out when conditions may still be...

ImPO it's to do with lack of commitment

10m histo triple D, this could result in double top from yesterday & today

TY! I am sorry to bring this up, but 9/11 took place pre-RTH & we certainly don't know what the future holds. I recall you leaving a long position over the long weekend & removed stops, perhaps you did have emergency stops though, it just sounded as if you had no stops at all.

Give yourselves a pat on the back chaps, because of you I've missed out on a trade. Joking :)

It's to do with money management, I think I've answered that already. I don't know where Volente has gone, you don't win a fight by not answering a simple question. Volente's rule of stopping trading for a day after 1 single trade goes -3 is typical example why I can afford to have a soft...

So if you can withstand 30 handle move against your position based on whatever event that MAY take place & by saying that justifying canceling your initial hard stops, then why would you question my usage of soft stops? Maybe I haven't made myself clear, like most rational people I do subscribe...

1. My soft stop would range from 1.5-3 points down; 2. If I run a total of -10 points for any given day consisting of multiple losing trades then why can't you assume that that total loss can't be equal to another trader's loss in 1 single trade? 3. Please re-read Lawrence Chan's post, it is...

I don't do sarcasm. You were questioning usage of soft stops that are within a certain zone & I simply said that I would answer your question after you explain how you can afford to remove stops from your trades whilst you're questioning soft stops at the same time?

When I used to call an area where I would be getting out I have never ever in any single post on ET have allowed price to "blow through" that area to later come back victorious, I don't know what you are talking about. Just read what Lawrence Chan has posted.

which you would miss out on if you stop trading after you are down -3 points on a trade ImPO it would be better to have a daily stop of -9 & reducing your position size by /3, otherwise you will be missing out, especially so considering your rules of 10,20,30 which can all take place on 1 day.

TY again! You've put it beautifully

TY! Exactisimo

So if you start a day with a trade that puts you @ -3 points you do not trade again that day?

Before I answer that, could you please explain how you remove stops for overnight trades, TY! :)

What's the difference between a soft stop which ranges from -1 to say -3 and you using a hard stop of -3 and having the same daily performance of -9? Of course hypothetical example. I think you're missing the point Vol

i am flat over here

that sounds more as an excuse, rather than en explanation

I still say that it doesn't matter how wide or how tight an average stop is, it's what YOU can do with it. Vertigo was spot on with his suggestion that one can post a hard stop of -500 points, but that's not what Buy1Sell2 would like to see in this journal. The whole issue is not to do with...

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