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Price moves up or down and stochastics reach an overbought or oversold condition. If there's still power in the move at that point, the stochastics just wiggle around in that area. So if you're trying to pick a top or a bottom based on stochastics, you'd better have a) very tight risk...

Hi Boosh! Someone emailed me the same idea. Thing is, I was very comfortable shorting it @ 25.00, but once the market opened and it had pulled back well below 20.00, it was no longer appealing to me in either direction, because I had no idea what to expect.

I just read this post after posting mine above. I will start recording this as well. Then I will find out if my winning percentage is so high because I grab smaller profits early, which is likely the case. I may find that by leaving original stops in place and giving the trade room to move, I...

Actually, my win percentage has been very strong this year, I believe over 80%. I think I need to start keeping detailed track of alternate scenarios on my trades (if I'd left the original stop in place, if I'd taken profits on half and moved stop to b/e, if I'd held overnight for a larger move...

No. Never thought about that possibility. Never crossed my mind. Been in regular contact with several very successful traders and they all like me and want me to be very successful; ergo, they would've revealed the fundamental truth to me if it existed. (Don't even say it. I already...

I invite input from experienced profitable traders on stop management. When I put on a trade, I place an initial stop at a price that, if reached, would invalidate the original setup. My profit target varies with each trade based on the overall setup. I normally have a profit target setup...

Hi BP, I have gladly joined the stop loss cult and if you read through this journal from January through yesterday, you'll see that making an exception to using stops just 5% or less of the time can result in serious setbacks. I began to learn about technical analysis in the late spring of...

QT, stick with me, as I'm going to master this stop thing! I realize that there are times when my intuition tells me to exit and it's probably correct, but it SEEMS that more frequently leaving the initial stop in place and letting the trade play out to an intended target setup is the optimal...

- $84 Went to short DNDN pre-market @ 25.00. I hit the order key with a big grin on my face, when suddenly my vision of taking the rest of the day off and enjoying a delightful hike in the mountains was dashed against the rocks by NO SHARES AVAILABLE TO SHORT! This had to be the gap-up of...

- $84 Went to short DNDN pre-market @ 25.00. I hit the order key with a big grin on my face, when suddenly my vision of taking the rest of the day off and enjoying a delightful hike in the mountains was dashed against the rocks by NO SHARES AVAILABLE TO SHORT! I put on several excellent...

Hermit! I really missed you yesterday! I'm afraid to click on links since my PC crash, so you'll have to tell me YOUR COMMENT!

I encourage any aspiring traders to learn from my mistakes and my successes: http://www.elitetrader.com/vb/showthread.php?s=&threadid=132626&perpage=6&pagenumber=1

Geez, trust me, it was very tempting to resolve the whole loss thing by simply viewing my P/L in a different light (see attached) :D

Thanks to everyone for your kind words. Mad, my large losses this year are not a result of fading a trend or averaging in or taking on bad setups; they are strictly the result of getting so comfortable with a stock that I decide there's no need for a stop. It's letting down one's guard and...

Three notes walk into a bar... A ‘C’, an ‘E-flat’, and a ‘G’ go into a bar. The bartender says, "Sorry, we don't serve minors." So the E-flat leaves, and the C and the G have an open fifth between them. After a few drinks, the fifth is diminished and the G is out flat. An...

- $8039 Spent the weekend thinking hard about holding losers, decided to draw my lines in the sand today; took all the hits, still standing, and much stronger now. NFLX calls stopped out for a $1267 loss. This was $400 profitable a couple days ago and I thought I had a GTC order to lock in...

- $8039 Had to clear the table of mistakes held too long; trust me I could never manage this in a single day unless I was in a trading halt :eek: :eek: :eek:

Not totally sure on this, but I think Neke's doing this while working a regular day job.

To BigHog: Got it! Thank you, thank, thank you! Absolutely awesome, and I don't know what else to say :) (You need to PM and give me email, phone or something so I have some other way to communicate with you!)

Shortie, I am very close to wiping out 30% of my YTD profits based on this kind of thinking. I am the first to admit that is a result of very poor risk management, but it the thinking you outline above that put me in a state of mind to allow the poor risk management. With that said, perhaps my...