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Kate,
If your stop loss and profit target(s) are
known at the time of entry, do you gain anything by watching the market? My
experience has been that the less I watch the market, the better I do at
managing my trades.
With all the great technology at our
disposal these days, once your entry and exit points are known, there’s
really no need to watch every tick. For example, with Interactive Brokers you can
place an entry order (Stop, Stop Limit or Limit) and simultaneously attach a
bracket order, where one side is your protective stop and the other side is
your (profit target) limit order.
Hope this helps,
Jeff
<span
>-----Original Message-----
From: ketayun
[mailto:ketayun@xxxxxxxxxxxxx]
Sent: Thursday, May
01, 2003 <span
>7:14 PM<font size=2
face=Tahoma>
To: realtraders@xxxxxxxxxxxxxxx
Subject: Re: [RT] Actually trading
the analysis
<span
>
<span
>Hi Arthur,
Of course I could put a stop loss and an exit price but there have been days
when the internet connection would cease or data lag or, or...... and severe
losses resulted while I waited for a sound alert, so walking away is not an
option any more.
The fear of losing is always there but I think even worse is equating it with
being a loser:).
However after today's posts from yourself and others, I believe that better
trades are in the making.
Good Trading,
Kate
Arthur Marcus wrote:
Hi
Kate, you say that you would enter on your first signal. Does your system
give you a protective stop once you enter. If it does, then why not hold
your position until price hits your target or until it hits your stop. Is
there a reason for going flat other than fear? Has something changed in
your analysis to make you go flat? Or, if your system doesn't provide a
stop, maybe you might work on that end of it. Since we all deal with the
fear of losing, I've found that most of the time, the best thing to do is put
in your protective stop and your target price and walk away from the
screen. Good Trading.
<span
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