Are stops really a good idea?

[richi rich]

naaaaaaahh

actully come to think of it myself, if i was at such a level where burning 100k was minor, like buying a Rolex....then id just be in the caribean.

FORGET THIS!!!

 

[UKtradergirl]

koolblue- it won't let me rep you anymore- but that is hilarious- and so true!

 

[MrGecko]

Trading without a stop, is like sex without a condom! You only have to be wrong once to get knocked up!

YouTube - swisscoffee

 

[koolblue]

AN amusing aside... at another website we had a paper trader who proudly proclaimed to be long 45 es contracts at es 905!(no stop, he was going for $ 250,000!) well the market proceeded to tank to 825 or so rebounding some time later as he just as proudly proclaimed he was covering at breakeven! Only problem is he wou;d have had to put up a $180,000 margin call in the meantime to make ZERO! LOL .. The defense rests!

 

[koolblue]

And id be happy to take the other side of that trade anytime!

 

[richi rich]

what are u chattin bout mate lol

if you have a look at my example on the first page and read carefully, you know you cant go wrong .
although it cleary is visible that for it to happen one needs to be willing to lose £100,000,
but that can only happen the DOW goes to 0

 

[MrGecko]

what are u chattin bout mate lol

if you have a look at my example on the first page and read carefully, you know you cant go wrong .
although it cleary is visible that for it to happen one needs to be willing to lose £100,000,
but that can only happen the DOW goes to 0

:cheesy::cheesy::cheesy::cheesy::cheesy:

I think I've made myself clear.

 

[new_trader]

:cheesy::cheesy::cheesy::cheesy::cheesy:

I think I've made myself clear.

Yes. Always wear a condom.

 

[trader_dante]

naaaaaaahh

actully come to think of it myself, if i was at such a level where burning 100k was minor, like buying a Rolex....then id just be in the caribean.

FORGET THIS!!!

No offence mate but your attitude means you will probably never make it in this game.

The biggest and best traders I know trade for the love of it.

I've said this time and time again. It has to be the love because they have tens of millions in their account and still they are back in the office at 7am to play again.

If it's a make a fortune and then retire mentality that you have, you will never have the patience, the perseverance and the love of the game that you need to succeed at it.

 

[richi rich]

relax
i will always be on the other end of the trade.

and Gecko lol

 

[koolblue]

well, whoever started this question gets my vote for' most insane 'thread on that t2w awards thing!

 

[KillPhil08]

Guys, what are you playing at. The pink panther is on channel 5. Jeez...

 

[new_trader]

Guys, what are you playing at. The pink panther is on channel 5. Jeez...

We are talking about sex..

 

[koolblue]

Joking aside, most hedge funds have positions too large for stops, right? And there only in hock a couple billion or so! Pisses off their shareholders tho!

 

[KillPhil08]

I thought most hedge funds were harvard grads who like to gamble?

But seriously, steve martin. Need i say more.

 

[trader_dante]

Hey, have you considered actually making some trades with real money WITHOUT STOPS as opposed to asking a bunch of people on a bulletin board what they think about it?

P.S I'm long Oil, without a stop and a plan to average aggressively (without a stop).

I can afford to do this because I have a lot of reputation points.

But it's not very clever.

At any rate, I'll let you know how it goes.

 

[trader_dante]

...just as an addition to the comment above. There is a huge monthly pivot point at $40 which goes right back since the contract inception and its a HUGE, HUGE level.

But the main reason that got me in the trade was I was on the IG INDEX homepage and they are running an ad campaign with the strapline: "If you are thinking of selling oil, get trading..."

This is a very reliable sign that the bottom has been put in. Or is very near.

For the conservative amongst you, the all time low is $9.75. You might try that as your uncle point.

 

[porph]

Sex is much more fun without a condom!

 

[KillPhil08]

Sex is much more fun without a condom!

Depends how much you trust the girl (trade)

 

[MrGecko]

Condoms are no bl00dy use, they never work when you need 'em to.

Thats what my Dad says, anyway.