posted
Just wanted to know how others determine their stop/loss price for their positions... i used to have my stop/losses about .15 to .25 below the purchase price and later the current price.. I've since changed that to having my stop/loss at 7% below of the purchase price (on the day of purchase) and current price as it rises if going into a uptrend.... what about you? ...
dodo
posted
As soon as I clear out my current positions I'm moving to choicetrade so I have that opportunity with pennies.
cbrf2
posted
mach,
yah, i use to never have it, lol, just hopes and wishes. Someone told me to use a 7 percent, which ive been using since. Well, mostly, lol. Think about it like this, if u drops 7, u walk out with 93 percent of ur money!
Machiavelli
posted
thats the way i look at it... if a stock drops 7% or more then its not worth being in that trade... some of them will bounce back but most of them wont.. better to take your losses and find a better stock... for the ones who want to take more of a risk and give the stocks more room to maybe bounce back.. try a 10% stop/loss then... if you can handle the losses if things go bad..
George
posted
You guys must no be playing the pennies... A 7% drop or rise is nothing. I have had ones that drop 20-30% in a day and then go up 50% to HOD. If you set a stop loss at 7% the MM's will eat it up.
Machiavelli
posted
it all depends on the volume, float, outstanding shares etc... not all stocks behave the same way.. some stocks move alot based on those factors and others don't.. i will never put a stop/loss at 20% to 30% .. that is gambling.. and i'm trying to take the gamble out of the game...
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