Quote from saliva:
My motto is "any good stop is only as good as your entry." That is, if your timing is good, then your stop is useless; if your timing is bad, it's still useless. That's really the whole gist of PMT: timing, timing, timing!
Traders get too hung up on stops and neglect the other side of the equation: entry. For me, a good entry is the main ingredient of success. Remeber, stop is merely an insurance. While it's a good practice to have insurance, that alone isn't enough to make you money.
Needless to say, good trading y'all!
A bad entry can be compensated with the right stop.
The exit is where the money is made.
