What significance is that stop level though?
ES Journal - 2021/2022
- Thread starter Buy1Sell2
- Start date
You HAVE to give the markets a wide berth! Stop with the 8 point stops! It is good to see you now have a 14 point stop, but that is still not enough! If you had a wide stop to begin with you would be in profit again without taking that first loss, instead of chasing! Ug!
If the Euro PMIs come out stronger than expected, you should be able to nail 30 points of profit!
None whatsoever.
I was essentially fading a down trend...no need to risk too much.Dude, what's the point? It's much better to get out with a small loss and then flip the trade or enter later at a better price.
Or just give the market a wider range, which it has been doing for the past few years, and follow the mood of the market?
In my opinion it all depends on the ATR at the time, position size and the time frame that is being traded.
Schizo trades short time frames so a tight SL makes perfect sense.
I suspect you trade longer time frames so a wider SL makes perfect sense too.
Personally I prefer to trade without a SL and use position size to manage my risk almost entirely upon entry.
Different styles.
Initial downside target 3923 tagged.
Makes me cautious shorting more from here, although this does look heavy at the moment.
Makes me cautious shorting more from here, although this does look heavy at the moment.
DX breaking through resistance too
Headed lower, though. Maybe 3900 next.
Ya shouldn't be complaining. There's volatility for both bulls and bears alike, as well as greedy pigs.
I'm not sure I'm complaining. Heightened volatility is great if you can trade it succeessfully.
Personally, I haven't had the best read on the market this week. 3 green days so far, though. Red so far today...
Multiple "small" losses add up. I'd say 5 points can be considered a small loss in this environment.
5 losses in a row and you need a big 25 point winner just to break even.
Using a "big" stop like Overnight suggests might not be the answer either. Unless you take home some really big winners with that big stop.
No easy answers in this game.