Tips for Taking Smaller Stops -- What works?

Unless your a computer :D

Like you said....for MOST traders :)

peace

axeman


Quote from ArchAngel:
For most traders, the complexity of trading increases exponentially with the number of simultaneous positions they have to deal with.
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cetain platforms allow you to do really cool things when it comes to stops.

the best one I have seen allows you to configure "thresholds" which are rules that say only place a stop after X amount of contracts have traded and only trail if Y amount of contracts trade at a new price.
Obviously there is more to it, but it is what I call "intelligent stops" vs. simply throwing an OCO order in.
 
Quote from Lady's Man:

cetain platforms allow you to do really cool things when it comes to stops.

the best one I have seen allows you to configure "thresholds" which are rules that say only place a stop after X amount of contracts have traded and only trail if Y amount of contracts trade at a new price.
Obviously there is more to it, but it is what I call "intelligent stops" vs. simply throwing an OCO order in.
More...

Same thing here.
 
I'd like to see more 'intelligent stop' software out there... for example I use a lot of indicators such as "minimum 8 trades at or beyond a given price", not just a single market print, which would cause a stop on most platforms .. eg using the patter of the tape, and perhaps other market internal type indicators, eg

'trail stop 37.3- from entry 37.5+ if (a+b+c)" vs just a single at-market print, causing the stop to trigger..

that's a request for broker software folks.. have configurable multivariable stop software... (do institutional traders have this?)..

ken
 
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