IgazI wrote:prochargedmopar wrote:As you can see I started out with the intention of using stops.
Then after closing 1/2 with small loss and the other half getting hit.
F that! Let's lose the WHOLE thing kicked in. hahahahahahha
How many times do you use a stop, it gets hit, and then the market recovers 30-40%? but you never remember that, you just remember the times when using a stop was best in retrospect.
The only time it makes sense to use a stop is if you do not have time to sit and watch the market when you are alerted to the possibility that things might not be working in your favor.
Market orders are an act of desperation.
As for risking your "whole account", you should never risk the margin required for your max trade size; everything else is risk:
Margin is the building, risk is the business.
I've done SL and I've done no SL. The red string between them is nailing the bias correctly. On no SL, I tend to be very, very selective and chose only the highest grade of them. Also, I play it differently when I do no SL in terms of the management.
