Trading with a Stop Loss in the Futures Market is for Losers

Quote from athlonmank8:

Yup. Surprisingly the only broker i've noticed questionable trades occur is Interactive Brokers.

I've ranted about it on here, but when i'm using 4-5 pip stops on Oanda, it's 4-5 pip stops. However, at IB one of my biggest pet peeves is that 4-5 pips turns into 6-7. Whatever their setup is it needs to be fixed or get rid of their commission structure. I tried stop limits and they get run. :confused: Considering the liquidity they're supposed to have it's frustrating.
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Yeah, IMO it has something to do with IDEALPRO's liquidity stuff and the nature of IB's stop orders. It slips on me too as opposed to "suspicious" dealer-type broker Oanda, which almost always gives me guaranteed fills (with rare and not significant exceptions).

So my choice now is IB for options, stocks etc. and Oanda for my scalping forex fun (aka reincarnation of Intraday FX Player thread you've mentioned here). :)
 
Quote from cornixforex:


So my choice now is IB for options, stocks etc. and Oanda for my scalping forex fun (aka reincarnation of Intraday FX Player thread you've mentioned here). :)
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yup. Your journal needed to be mentioned too in my post! That is an excellent journal as well. I tried one, but it was just too much work lol.
 
Quote from athlonmank8:

yup. Your journal needed to be mentioned too in my post! That is an excellent journal as well. I tried one, but it was just too much work lol.
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Stopped it for the same reason. Trading, twitting and keeping a few journals in different places was way too much.

To keep myself objective (journals help it a lot, because it feels very different, when people watch your trades) I find twitting and having a journal @ my own site to be enough (and even that only, when no other distractions occur).
 
Quote from logic_man:

Hey, asshole, you've been saying for about 3 days now that you "don't use stops" and "stops are for losers", well WTF is this:

"I go short march 6. I get stopped out."

"Next day it tells me to short. I go short. I stopped out."

Are you a fucking retard or are you deliberately trying to waste my time with bullshit?
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wow, seems I hit a nerve. You know im right. :cool:

If a system says you to short every day for 2 years, the same system with daily stops will perform the same or worse than the same system without stops.

i love how common sense eludes many.:p
 
Quote from cornixforex:

As for quants, history proves, that, unfortunately they often control risk only to a certain degree and are almost naked and unprotected in the face of 4 sigma events. I witnessed such sad cases personally in 2008/9 and those quants were smart, extremely smart, way smarter than I am. :)
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jesse livermore used stops and bankrupted 4 times....

people think stops protect against 4-sigma events, bankruptcy, w/e

it doesn't.

not in the long run.
 
Quote from failed_trad3r:

jesse livermore used stops and bankrupted 4 times....

people think stops protect against 4-sigma events, bankruptcy, w/e

it doesn't.

not in the long run.
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Livermore blew up when he didn't follow his own rules, not when he did. :)

Stops may not be the absolute defence, but they perform their function very well (again, for me, probably not for everyone).
 
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