| Can't agree with you there, LG, though if it works for you, great... I think you've been at this longer than me, so I suspect your personal discipline and reflexes are quicker... for me, puts too much of a limit on number of trades I can manage at once, overweights emotions and panic responses... trailing stops let me accept decent profits, stick to trading rules (like never move a stop against the direction of the trade)... like right now I expect the lunchtime drop-off to gun one stop I probably set too close, but if I moved it down, then the next time, or the next time, or the next time I'll find myself moving it away like a matador swinging his cape away... and the dying bull'll catch me... in other words, have avoided major losses with that rule... maybe when I switch over to direct access (decided need it for THIS market after all), I'll try automatic orders in software... best of both worlds? |
