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<The day traders I know who are successful don't have more than a 2
point stop loss and when in doubt they get out at 1 or .50 at best.>
Most of them are like you say, but I have a friend who is a
swing/daytrader that held short for a 20 pt loss of $354,000 on a
few large contracts before he folded last summer. He still had an up
week, but that took a bit of a bite out of it. One time he held for
a 60 pt loss on a few contracts. It took him several months to
recover. He usualy saves a lot of money on stop losses. He almost
always can get out break even, but as you see, not always. LOL
Bob
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