StockFetcher Forums · General Discussion · Stop Loss Question<< >>Post Follow-up
four
5,087 posts
msg #103148
Ignore four
modified
10/29/2011 12:23:15 PM

Scenario 1:

  No stop loss on the day of trade.

-- OR --

Scenario 2:

  Immediately place a stop loss on the day of trade.

Thanks for your responses.

gmg733
788 posts
msg #103149
Ignore gmg733
10/29/2011 1:39:33 PM

Depends on trade plan and methodology. But you knew that.

Place stop at the same time of your order. Several ways to set stops. Since I look for swing points I set stop below swing point low (or high for a short). This was my method. I trade options almost exclusively and there are other ways of controlling risk with options. So no stops for me anymore.

The only thing a stop loss guarentees is a loss. :)

miketranz
961 posts
msg #103153
Ignore miketranz
10/29/2011 5:34:09 PM

Let's put it like this,how much money do you want to lose?

jimvin
173 posts
msg #103154
Ignore jimvin
10/29/2011 7:44:40 PM

My trading style is not very refined: in on Monday at open buying at market price, out on Friday at 3:30; 10 stocks total using a base investment of 100K.

That being given as a qualifier, I use a trailing loss stop of 5% for each stock which I set at about 9:45 Monday morning when my buys have gone through.

It doesn't kick in often, but it's saved me a lot of money in rough markets, especially wihen taking a chance on OTCBB picks...

StockFetcher Forums · General Discussion · Stop Loss Question<< >>Post Follow-up

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