robster970
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I couldn't trade without stops. Stop loss orders are what keeps me disciplined. I sometimes exit before stop is hit but without the stop I usually get stupid and end upholding on to a losing position for longer than I should have. Kudos to traders that can trade without them and still keep their discipline!
Peter
I was like that for a while. I found that removing the safety net forced me (a) take responsibility for all aspects of the trade and (b) forced me to evaluate when the trade was going against me. Watching your money evaporate on hope was what I needed and it had a profound effect on my performance. It was the thing that turned my daytrading from loss making to mildly profitable.
I still have flaws in execution, in fact on Tuesday I let one run way too far for me (well, 1.25pts to be precise) but the cumulative improvement over say another 10 losers which now come out about 1-2pt's better off means I can take a failure like this every now and again.