Making my use of stops more methodical and effective

Quote from jack hershey:

four trades so far....

No adverse excursions either.....
More...

Good boy! That's a good doggie!!! Now, bring the stick to daddy!...

dogwithstick.jpg
 
Quote from hmcp:

Improvingstops

I was told early in my trading never lose more than x amount then I learned every setup is different in more volitile mkts adjust stops and reduce size.wider stops may give you a little breathing room to let you trades play out without getting stopped 2 or 3 times then wathing the mkt move after you throw in the towel. My biggest problem was (is) moving my stops to early and getting out of trades with little or no profit trying to avoid a loss.

Phil
More...

Phil, I'm struggling with the same thing as the OP and your comment above encapsulates a (still) major problem for me. My psychology is improving by the day thanks to a lot practice in my sim account. It all comes down to experience, screen time and confidence. And you really do have to draw a firm line in the sand, because earlier this year when I became TOO confident I failed to do that.

TraderZones, I don't believe I've ever put in a negative comment about a particular person on ET, but you are so incredibly negative and your negative posts suffocate anything of value you offer here, which you do occasionally offer.

Jack Hershey has provided incredible educational material on ET for anyone willing to put in the time to "grok" it.

Just because you are unwilling to put in that time is no reason to diss a very valuable contributor to this site.
 
Quote from TraderZones:

AS usual, proud he can predict the past...
More...

Yes, that's all he can do, and all an entire 2000+ page thread is about. People drawing lines saying where they <i>should have bought.</i>
 
Quote from NoDoji:



Jack Hershey has provided incredible educational material on ET for anyone willing to put in the time to "grok" it.
More...

You give Jack Hershey far too much credit. He's an old loon, that happened to find a younger lad to build his system in tradestation only to find it doesn't work in that platform.
 
I vote for fixed stops.... you can always get back in? A discretionary stop WILL get you sooner or later. If the $120 stop looks that much better, simply use it.. and don't look back.. perfection will never happen... Also cap daily loss $$$
 
Quote from NoDoji:



Jack Hershey has provided incredible educational material on ET for anyone willing to put in the time to "grok" it.

Just because you are unwilling to put in that time is no reason to diss a very valuable contributor to this site.
More...

Not a single person that has studied the "material" has ever provided a proven track record or even proof that they've actually traded the (and I use the word loosely) system.

They all seem to revel in paper trading but fail when money is on the line, including Jack himself.

As the old saying goes the proof of the pudding is in the trading.. and these people seem to be starving.
 
Quote from improvingstops:

Hi, I'm a futures trader-I have some money longer term in stocks, but just spare a little for futures. Intra-day trading.

I am trading reasonably well, getting many profits, but am hopeless with stops and get the regular large loss that limits my success. I'm trying to eliminate this pattern of holding on to bad trades, then when I get consistency will scale up to 10-20 contracts a time.

I am looking for help to work through my methodology when placing trades, and using stops. If indeed I have developed a bad psychological approach as a result of these losses, then I still can fix it easily by the correct actions each time.

Here's a graph showing my last two weeks.

Any help would be appreciated.

Thanks.
More...


The best way to improve "stops" is not using them, actually. But, instead, finding alternative ways to hedging.


____________________
Tom
My <a href="http://www.datatime.eu/public/gbot/2009_11_03_Tue_Wed_Overnight/default.htm" target="_blank">futures autotrading</a> journal
 
Quote from NoDoji:

TraderZones, I don't believe I've ever put in a negative comment about a particular person on ET, but you are so incredibly negative and your negative posts suffocate anything of value you offer here, which you do occasionally offer.

Jack Hershey has provided incredible educational material on ET for anyone willing to put in the time to "grok" it.

Just because you are unwilling to put in that time is no reason to diss a very valuable contributor to this site.
More...

It is amazing how the clueless condemn themselves. But the others already covered above. Hershey lovers dwell in the 13 Darkest Level of Newbie Trader Hades.

Have you not read the 1,000s of negative posts about the Desperate Guru Wannabe (Hershey)?
 
You must log in or register to reply here.
Back
Top