?????
Crude Newbie
- Thread starter SteveA
- Start date
His style limits gains, but allows losses to mount.
This was in response to the OP's posts. "thankx for the input.... I am just watching live market and applying my method. I am a big fan of not just stops, but preset target for profit. CL makes these $.10-15 moves alot during the day."
So Buy1Sell2 not sure what your "??????" meant. Perhaps it was regarding not using stops or that support and resistance are quite reliable -- or was it the word "Targets" that you were questioning? Glad to provide answers to your ????? but please tell me what you want? Thanks BuyISell2
The purpose of stops, for most, is to limit their risk of a loss based on their risk/reward parameters. So for example when trading the ES they may say that they will risk 1 point to gain 3 points. If that works for you, then, I congratulate you and of course, use stops. For me, stops are really "evil". Often you choose the right direction and then before you profit you are stopped out, only to see the market go in your original entry. I trade Hedged so that gives me "staying power" and that replaces my need for stops. I also can "scalp" or swing trade using the same method. Also, stops can be gapped over, turning into unwelcomed market fills. But I do agree most use stops -- to fix their loss.
Robert Morse
Sponsor
If you are looking to scalp. I think CL is worth a look.
With respect, when correctly understanding what I do, it does not limit gains while allowing losses to mount. Perhaps, you will explain how you arrived at that explanation of my "style". No offense, not looking for an argument ala E.T. -- but please, tell me how you came to that conclusion.
Absolutely ! And Mr. Morse would certainly know that. Just check his experience and background -- a real pro and a great asset to E.T.