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Thread: Moving stops to BE

  1. #21
    Quote Originally Posted by ;
    Fine. But tell me , are you still limiting your trade possible by using a timed stop? ie. As you decided not to use a profit goal like a given pip amount to increase profit possible what is the difference if you use an end of day discontinue (the price could still keep on going in your direction) .
    You sure are limiting your trade possible at any given point when you decide to shut the trade... that is something we can't really control. That's why it really depends upon how you like to trade.
    The main reason I choose the timed exits is because I like to let the trade run without needing to be guessing about where the right exit should be. I see it not on the being correct but on taking what the market gives me at that specific moment.

  2. #22
    Ok. I will see that and raise you...

    Why not use a trailing stop to'let the market decide what it want to provide you'?

    Let's say on day the market proceeds 100pips on your favor. In case your TP is 100pips your rockin for certain... but your out.

    Next day that the market proceeds ANOTHER 100pips on your favor. Well if you had a solid TP of 100pips OR in case you'd a timed exit of 1 day you will miss out! But you could be more than twice your original goal!

    Next day that the market goes Still another 100 or maybe even 200 or more pips on your favor. . If you were trailing the market by 100pips (just for example) or maybe trailing the market by swing highs or lows, you may just capture much more of this market.

    I'm open to debate...

  3. #23
    As you can see, the market could be traded in many different ways. What may appear to work for us may not be profitable for the next trader... there is no right or wrong answer.

  4. #24
    I agree and I'm happy you've found what works for you!

    Just Searching for healthy debate.

  5. #25
    Quote Originally Posted by ;
    should you move your stops to BE too fast, you're investing to NOT LOSE, rather than trading to win.

    Just thought I'd pass that on.
    Some would say that trading to NOT LOSE is the way to go.... Nevertheless, I'd certainly acknowledge that moving my stop to breakeven also soon was one of my main weaknesses as a trader. Taking the MAX trading course past month has helped immeasurably in this regard.

  6. #26
    Quote Originally Posted by ;
    Everybody is hardwired a little different, finding your best trading level is key, that helps keep the emotions in check, stepping outside your comfort zone can make a flood of emotional stimulus that's usually bad for trading. It doesn't matter what size your account is, even if you truly feel undue stress trading 1 lot, then drop down to mini's or micro's and gradually work up increasing your risk appetite.

    Detect that MM, dimensions amount, that works profitably for you then examine your weaknesses and work to gradually correct them, like that frog at the...
    Yes, I am trading big (never greater than 2%) but for my account that's in fact a lot. And hopefully it'll be
    I could never trade that amount without statistical results...

  7. #27
    Interesting points of view mentioned here. Notice I wrote too quickly in my announcement. I think at some point you should go to BE, just in the event of it is judging that moment that's vital.

    I brought this up since I'm very good at not losing. However, a review of my transactions shows that I've been taken out a lot of times by being too quick to move my cease to BE and I've neglected to re-enter from the original direction.

    Many programs are basically breakout systems also it is important to remember that price likes to come back to test the level it just broke from. After another significant level was attained and/or breached, then it is time to proceed to BE, but not before.

  8. #28
    It's a bit of a http://www.merriam-webster.com/dictionary/dichotomy, this stop business. The initial positioning is obviously crucial and guides one's initial risk per trade in terms of lots traded.

    I am gradually coming to the conclusion that time has to become a factor in how one manages the trade from the point of entrance. I'm beginning to find that part of the craft of successful trading isn't just having a very clear cut manner of entering a trade, and a set goal for exit, but how you handle those situations where price does not make a very clear and decisive movement in the expected direction.

    Historically, I have tended to place my stop and wait for it to be hit or to get price to reach my goal (or near enough not to matter). I normally trail by loing the next area of S/R that I can hide behind.

    The toughest decision for me is to take this price -ie the market - hasn't made it's mind this time I'm correct and that, possibly, I must move my original stop in a little closer and so reduce my risk from 1 percent to.5% or .75%. This still leaves some wriggle room for price to confirm my trade or, in the event that I'm incorrect, take me outside at a reduced loss.

    We read all of the time the entrance is key or the exit is key but this pre-supposes we only have winning transactions. I feel we can take this discussion to the area of damage limitation for potentially losing transactions.

    I will experiment a little on basing my original stop standing to be be decreased by 10% for each and every 4-hourly bar that closes after entrance at which price hasn't made a sufficiently () strong enough move to confirm the market's direction. This is going to be no matter whether I'm in profit or drawdown. To make this clearer let's presume a 100-pip stop. If after the end of the 2nd 4-hour bar after entrance the market is still in consolidation I would reduce my stop by 10 pips and so on....

    Any thoughts on this would be fascinating, so let's hear what others do.

  9. #29
    BE is a plogical to some technical, or statistical, threshold. Unless there's technical justifiion supporting any commerce direction egy, it adds no real edge.

    Moving SL to BE more rapidly will enhance your win%, however not your yearly bottom line (if a large enough number of trades that have stopped out at BE will have gone on to be big winners).

    Moving SL out of (say) -15 to -10, from -5 to BE, or by 10 to 15 all lock in 5 pips of profit, and will consequently have an identical effect on eventual bottom line, even if the plogical impact of each differs.

  10. #30
    Quote Originally Posted by ;
    I think at some stage you should go to BE, just in the event of it is judging that moment that's critical.

    It's important to keep in mind that price enjoys to return to test the level it just broke from. After another substantial level has been reached and/or breached, then it is time to move to BE, but not before.
    1

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