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Manning ,
>Don't you think it makes more sense to determine where the market
should not
>go, determine the dollar risk if it does go there and then deciding
whether you
>can afford to do the trade?
>This makes a lot more sense then arbitrarily picking a dollar stop.
This makes great sense to me. I have been doing it "the other way" by
setting my stops based on a percentage. Of course, as you may have
guessed, the market thumbs it's nose at my percentages by often coming
down (or up) to activate my stop-loss, out I go at the worse price of
the day only to see the market heading to make me profit if I just
hadn't been stopped out!
I, for one, would enjoy a more detailed discussion on stop management. I
realize that there are many schools of thought on how to do this, it
would be interesting to read what different approaches the different
traders on this list take (without giving away too many secrets, of
course ;)
Another question to the group. I am currently using SuperCharts. Am I
basically just beating my head against a brick wall trying to write
viable systems with SC and should I just bite the bullet and purchase
TradeStation?
Regards,
Joe Balsamo
San Diego, California
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