High probability price action by Dr Cornelius

Tight stop increase the probabilities of getting stopped out of big winners.

Some of Dr Cornelius's stops are above 40 pips , these ensure we remain in trades /trends which can be choppy.

An example of being stopped out of a trade in attached.There are disadvantages of tight stops.
 

Attachments

Quote from oilfxpro:

And Dr Cornelius shows how one has been taken out of another profitable trade for being tight fisted.
More...

serves him right , he missed a 60 pip trend by skimming on stop losses .He charges $2,500 to teach these tight stop trading.:D
 

Attachments

Quote from oilfxpro:

serves him right , he missed a 60 pip trend by skimming on stop losses .He charges $2,500 to teach these tight stop trading.:D
More...

He actually missed a 120 pip trend by skimming and placing tight stops in choppy markets.

Here is a 4 pip stop trade when market is in very strong trend
 

Attachments

You fail to comprehend that tight stops only have disadvantage, when your entry is flawed from the start and is not optimal. Poor entry = wide stop = high risk.

Improve your entries and you will laugh at your own words about the need for wide stop.
 
Quote from cornixforex:

You fail to comprehend that tight stops only have disadvantage, when your entry is flawed from the start and is not optimal. Poor entry = wide stop = high risk.

Improve your entries and you will laugh at your own words about the need for wide stop.
More...

I will explain the context behind the trade.The price had several reversals from the 1.2950 , the previous resistance at 1.3052 had been broken ,trend was strong and price had made a very big move .The price had moved higher and retraced to support on 1 min , as the price bounced off the support at 1.3062 ,buy order was placed at market and bought at 67 with stop 4.5 pips.The previous major sellers at 1.3052 had dissipated with losses on stops and shorts ,many bears were covering their shorts and had to buy back higher.Prior to that we had six bottoms to 8 bottoms and several attempts to go higher .

The entry was as prefect as it can get.
 

Attachments

Whatever your reasoning was, if you can't trade with tight stops it's the problem of your entries and nothing else. :)
 
Quote from cornixforex:

Whatever your reasoning was, if you can't trade with tight stops it's the problem of your entries and nothing else. :)
More...

It would not have made any difference if I place stops 100 pips away, cause we keep an eye ....there is no benefit IMHO.I listen to you guys , and one or two tips from Ammo and No Doji and others have helped , but I still enjoy the argument.

Here is something I learned from three people , it helped in this set up.

Thanks Guys.

This is why I give to the community , I am being grateful.
 

Attachments

You must log in or register to reply here.
Back
Top