Stop Losses are for Losers

Using a stop loss reduces the chance of sceonf thinking
I was in a trade and i thought it would come back and it didnt
If i had a stop loss it would have got me out of the position and saved me a lot of money.:(
Human beig have no cotrol over their brain
Some time you could be planning something and your decision could change in a split second.
sometime the marekt could just fall YM 30 point in a second and you did not expect it and it may come back 5 point and go 30 points lower
A stop loos could save you
When you put a trade on you know why you went long or short and if the market is proving you wrong get the fuck out and look for a another trade
Stop loss help,s you maintain your account with a small loss then blowing it thiking it will come back
How many traders have been in a posotion thinking it will come back and in futures stock they usually come back, and the day they dont you are either praying for it to come back or trying to make your self happy :(
 
Quote from chewbacca:

using stops is completely ILLOGICAL

if you're not completely comfortable or confident in a poistion then admit you're wrong and GET OUT NOW......don't hold and hope that the market won't stop you out at the worst price
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Quote from chewbacca:

Consistancy is for Looosers
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Are you only referring to times when a trader enters a position, but then something happens, and they know the trade is not going to work out… but instead of just exiting then, at a better price, they just sit there and wait for their stop to get hit? If so, then yes, that is sort of illogical.

However, even if you are confident in a position, you should still select an underlying technical level that, once breached, proves you wrong regardless of your thoughts or emotions, and provides ample reason to “GET OUT NOW”.

Seriously, if stops are illogical, then what is logical? Allowing a position to move indefinitely against you? Praying it will comeback? Allowing a trade from a two minute chart turn into a long term retirement investment?

Anyway, thanks for your advice, in this thread an others… I’m sure everyone can’t wait to give your Inconsistency + No Stops method a try.
 
Let's hush about this thread already it's so stupid. If the guy think's he's better than all of us because we use stop then more power to him. There is a thing called hedge too but I guess he's too good for that either. For him he just can't make a mistake as long as he follows the trend (that simple) and there is no such thing as trend change just simply add to the position. If that's what he wants to do then more power to him. Again, it's not our money but he's so who cares.
 
Quote from chewbacca:

using stops is completely ILLOGICAL

the only time to BUY is to (1) get long in an uptrend (2) add long as uptrend holds or strenghtends (3) take profits as uptrend or long opportunity completes itself.....and vice versa for SELL decisions

if you're not completely comfortable or confident in a poistion then admit you're wrong and GET OUT NOW......don't hold and hope that the market won't stop you out at the worst price......that kind of trading (using stops) only increases fear and stress........and great trading is about only taking and holding trades when 100% confident or not at all.

using catastrophic stops is okay like for days when you know economic data is coming out or an intermeeting cut is likely.
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Ok, I'm going to give you the benefit of the doubt and assume you're talking about two different things.

HOWEVER, to say that stops are for losers and they're illogical shows you really have no idea what you're doing.

If you THINK you do.....you seriously need to reassess your strategy.

Many people can't trade discretionary like you state.
 
if you are positioned sized properly, there is no need for hard stops.

hard stops make no sense given the fluid nature of the market.

how many times have you been stopped out, only to see price rebound near or at your stop in your direction? savvy traders, who understand the game, know these facts and that position sizing and money management is key NOT broker/churn shop promoted stop losses.


if you trade FX with dealers hard stops are SUICIDAL.


surf
 
Yes! Stop losses are for losers! Why? It is because when you get stoped out for a loss it is a losing trade. Thats why they were created. Thanks for giving us a dictionary lesson. This makes Stop loss order the greatest of all losing trades.
 
You are forgetting an absolute stop loss, I agree that stops have to be a tad discretionary/mental, though we all can get carried away once in a while, hence a point of no return has to be marked for our own good :)

I love you Surf :)

Not :)
 
Quote from marketsurfer:

if you are positioned sized properly, there is no need for hard stops.

hard stops make no sense given the fluid nature of the market.

how many times have you been stopped out, only to see price rebound near or at your stop in your direction? savvy traders, who understand the game, know these facts and that position sizing and money management is key NOT broker/churn shop promoted stop losses.


if you trade FX with dealers hard stops are SUICIDAL.


surf
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Surf..We're talking daytrading correct? I mean seriously. I've put a stop (and trailed them) on nearly every trade I made for the past 3 months (never used to be the case) and I've never looking back. I know EXACTLY where I want out and i'm not going to sit there and watch the damn position. I usually spend my time looking for other opportunities on my scans and/or watching the overall market/sectors. (Before I used to do it all at once, and it just became way too damn much.) I then use a manual OCO when/if my targets been reached.

To say that you have enough time to do this and keep an eye on your positions is fuckin stupid.

As for FX...if you're daytrading, you NEED stops in FX. I don't care if they're gonna get run to the moon (which can happen). If that market moves against me, I want out...I don't care what price because the majority of the time, if i'm in a position that's been murdered i'm not in the mental state to trade. If the price becomes so shitty, that it burys my account, that's my fault for using too much leverage as well.
 
Quote from Compulsive:

I think is LOSER and not LOOSER

loose /lus/ Pronunciation Key - Show Spelled Pronunciation[loos] Pronunciation Key - Show IPA Pronunciation adjective, loos·er, loos·est, adverb, verb loosed, loos·ing.
–adjective 1. free or released from fastening or attachment: a loose end.
2. free from anything that binds or restrains; unfettered: loose cats prowling around in alleyways at night.
3. uncombined, as a chemical element.
4. not bound together: to wear one's hair loose.
5. not put up in a package or other container: loose mushrooms.
6. available for disposal; unused; unappropriated: loose funds.
7. lacking in reticence or power of restraint: a loose tongue.
8. lax, as the bowels.
9. lacking moral restraint or integrity; notorious for his loose character.


los·er /ˈluzər/ Pronunciation Key - Show Spelled Pronunciation[loo-zer] Pronunciation Key - Show IPA Pronunciation
–noun 1. a person, team, nation, etc., that loses: The visiting team was the loser in the series.
2. Informal. a. a person who has been convicted of a misdemeanor or, esp., a felony: a two-time loser.
b. a person who has failed at a particular activity: a loser at marriage.
c. someone or something that is marked by consistently or thoroughly bad quality, performance, etc.: Don't bother to see that film, it's a real loser.

3. Slang. a misfit, esp. someone who has never or seldom been successful at a job, personal relationship, etc


:confused: :confused: :confused:
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sense of humor

noun
the trait of appreciating (and being able to express) the humorous; "she didn't appreciate my humor"; "you can't survive in the army without a sense of humor" [syn: humor]
 
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