YM Traders

Quote from steve46:

Hello traders.

If your stops are getting hit ("to the tick") it generally means a couple of things as follows:

1. You are placing your stops in obvious places and the big players (and noise) are taking you out.

2. You arent calculating your stops correctly (you havent adjusted for daily variation in volatility)

3. You are trying to "get by" with stops that are too small for your system. Check your risk/reward. Compare against the profit you make on a per trade basis. If you aren't hitting at least 3:1 with a ratio of 70+% you are a net loser, because you cant oversome expenses.

Thats about it. Get it right and try again.
Of course the time to get it right would have been during your research phase. But hey thats just one mans opinion. I realize that is it more important for some of you to be chatting here with friends. :D

Steve
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you forgot option 4,

You are entering the trade to soon and not following your rules therefore you are not getting in when the move is nearly exhausted.
 
Quote from volente_00:

you forgot option 4,

You are entering the trade to soon and not following your rules therefore you are not getting in when the move is nearly exhausted.
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Yes, without a doubt, late entry is a big problem. When you see the signal (if you did your homework) you need to believe it, and then act on it. "he who hesitates is lost" is the old saying.

Steve
 
Quote from volente_00:

back for more pain

shorted at 11006
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You're alot braver then me... breakout near 75-86 is keeping me long ( from 942 fwiw)... stop @84 as of 12:28 MST

good luck
 
Quote from steve46:

Yes, without a doubt, late entry is a big problem. When you see the signal (if you did your homework) you need to believe it, and then act on it. "he who hesitates is lost" is the old saying.

Steve
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I said nothing of late entry, early entry is the enemy.
 
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