what if i said the typical stop on the ES prior the recent volatility since covid-19 was 10 points..and now it must be more!!!!
Depending on how much more than 10 points I'd say I'm a bit puzzled as that's not exactly what I'd call a low risk entry and also seems to contradict your statement about how a trade should go in your favour very quickly after getting filled.
Of course - it's possible that your stops are simply disaster stops and that if you're early now and then you'll trade like a 'market maker' building up some inventory as your experience tells you with high probability that you'll at least get out for a scratch. Something you're able to do because your initial risk on every trade is very low anyhow.
If you know what you're doing and have some discipline - the market maker way of trading can work well, but it is of course not entirely without risk as one of those days you'll get caught on the wrong side of the market when it actually tanks. Unless you can actually take that loss.
i think that stop placements are detrimental to making money trading!!
Quite possible!
I have wondered if a simple solution for myself would be to simply allow for more inexactitude in my trading. Tight stops are great if your entries are consistently great. If not - it's a quick way to add up small losses which requires a big winner just to get even. Hell, you could even reverse engineer that for multiple small profits all day long which does add up.
But if I reduced position size and traded with less precision, but still skillfully and with knowledge, I should be able to do well. Maybe not excellent, but well at least.
PS: I generally use 10 point stops on day trade entries these days, but try to limit my losses around 5 points at most.
