Thanks for viewing my initial post!
I've been casually paper trading and back trading the Emini S&P for over a year now, and recently got into simulated trading on a more full-time basis. I've had very good success entering the market and as I'm not a gambler, my conservative approach to taking profits has been very successful as well. My strategy is to trade 5 contracts and exit quickly, which has worked. Averaging around .75 to 1.25 each breakout, which I'm cool with. I'm sure this is a Newbie question and an experience thing, but I have no idea where to place my stops. Any kick-a$$ advice on that, or is it just an individual preference, like everything else? I've done well on the trailing stops, but I know I've missed much more profit by getting stopped wayyyyy too quickly.
Again, thanks for the assistance.
I've been casually paper trading and back trading the Emini S&P for over a year now, and recently got into simulated trading on a more full-time basis. I've had very good success entering the market and as I'm not a gambler, my conservative approach to taking profits has been very successful as well. My strategy is to trade 5 contracts and exit quickly, which has worked. Averaging around .75 to 1.25 each breakout, which I'm cool with. I'm sure this is a Newbie question and an experience thing, but I have no idea where to place my stops. Any kick-a$$ advice on that, or is it just an individual preference, like everything else? I've done well on the trailing stops, but I know I've missed much more profit by getting stopped wayyyyy too quickly.
Again, thanks for the assistance.
