Hope to get some experienced responses to this:
I've done swing trading since 2000. Finally caught on early 2002. Figured if I can make some $ in this market, can't wait til a new long term uptrend starts. Enjoy trading so much I am trying daytrading because, a chart is a chart and a timeframe is a timeframe, right ? (work fulltime USA east coast so trying European futures) Well, the stops I use in Swing, which are fairly wide, usually placed just under where you'd typically place a stop just under a pivot, aren't working in daytrading European futures. Being that there is just one contract trading, you either get out or keep going. No partials. This is putting the win/loss ratio too high on the losses being that the stops are so wide. I took a $4k account to $5100 in two weeks and thought that I had found a new career. Then, the stop losses came in and it only took a few, being that they are larger than the winners, and now I'm at $3800 1 and 1/12 months from starting this venture. Maybe I'm answering my own question, I should let the winners run ? Any advice on stops, when to take profits using 1 contract at a time would be great.
I've done swing trading since 2000. Finally caught on early 2002. Figured if I can make some $ in this market, can't wait til a new long term uptrend starts. Enjoy trading so much I am trying daytrading because, a chart is a chart and a timeframe is a timeframe, right ? (work fulltime USA east coast so trying European futures) Well, the stops I use in Swing, which are fairly wide, usually placed just under where you'd typically place a stop just under a pivot, aren't working in daytrading European futures. Being that there is just one contract trading, you either get out or keep going. No partials. This is putting the win/loss ratio too high on the losses being that the stops are so wide. I took a $4k account to $5100 in two weeks and thought that I had found a new career. Then, the stop losses came in and it only took a few, being that they are larger than the winners, and now I'm at $3800 1 and 1/12 months from starting this venture. Maybe I'm answering my own question, I should let the winners run ? Any advice on stops, when to take profits using 1 contract at a time would be great.