running stops

[syswizard]

Quote from austinp:


Frank, if your method = approach is any good for the ER, it will give you a reversal signal going the same direction even after your stops are "gunned". In other words, if you are stopped out while short, your method should give you another short signal near or at original mark for second try.

Exactly....tight stops can work, but expect them to get hit and don't let that "get to you". In many cases, my buy stop was the "top tick" of an afternoon swoon and I didn't put in another sell order I was so pissed-off. An hour later, I was kicking myself. All I had to do is put in another order !
You definitely must "keep your head in the game" with ER, as there are so many good pros trading it. No question, it'll cost you more in commissions because of these numerous stops, but again, prudence will win out over valor in the long run because of the fast moves that ER can make against your position.