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If I set fixed target let's say .20c and stop at $1 I can hit 90% win rate. But this is such an opposite from "cut your losses short and let your winners ride". So what am I missing?

Lescor, Several people said that posting their p/l on ET actually hurts their performance. Why do you think it is? Is your trading any better or worse since you started this journal?

Lescor, are those horizontal lines or diagonal? Or a little bit of both?

Thanks Dustin for replying, I thought I’m the only one that feels like not much going on now, seems like it’s a great investors market.

What about now? How are you doing in this market Dustin?

Lescor, What is your average winning trade in $ and ave. losing trade? Also if you don't mind sharing, what would be your biggest winning and losing trade this year in $. Thank you

Are we as day traders competing with each other? Run each other stops, step in front of support/resistance levels? Or MM and specialist are trying to take money from us, day traders? We as a group obviously ahead of some ave Joe who buys stocks on news, but is he our competition? Any thoughts?

Oh boy, this is way over my head :D So why do channels work in simple terms guys?

Can you explain this in math terms?

I disagree, as a discretionary trader I need to know why it works.

Can somebody explain to me why channels work? Is it because we believe in them? What is the reason, besides some math numbers, why it works?

If you trade a lot of shares you either go quick in and out with smaller size or scale in and build bigger position in several stocks in my opinion. If you build bigger position and it doesn't work how do you close it if you have 5000 shares? In that case tight stop could hurt, right?

But is this normal? How long can it last?

As been told here on ET 0.05 per share is pretty good average. So with 50K shares that's about $2,500. Does this sound right? Even 50K shares is a lot I would think. Do you think it is possible to use tight stops like 10c when trading volume like this ?

I guess that would be same as trading 300K+ shares of stocks, right?

Was reading old p/l threads and numbers that lescor, Red Ink, Dustin, etc. posted daily on ET. What do they all have in common? They trade hundreds of thousands shares per day. Is this really necessary? Does anybody here on ET make $2K-$3K per day and trade less than 100K shares?

Thank you coolweb, I guess this is why pro traders don't use stops, can't place 10K stop order at the market :-)

But again if I enter stop order with routing to Smart at IB can anybody see this stop? I'm not talking about 3 ticks above the high and stuff, let's say my stop is not something common, what I'm trying to find out is can my stop being seen by anybody? And if so, how in the world can they see...

Thank you for interesting suggestion When you say "never leave your stops on the actual market" what do you mean? I enter stop order with routing to Smart at IB. It's a "stop market" order, is this wrong? What would be better?

Why is it counter-productive if nobody can see my stop? I'm trying to figure out if it's visible to anyone.