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Strategies & Market Trends : The Final Frontier - Online Remote Trading
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To: Cash who wrote (2975)2/16/1998 10:09:00 AM
From: David  Read Replies (3) of 12617
 
I would like to respond to your input concerning the trading site dynamicdaytrader.com. I am affiliated with the site (I am not the trader however). With reference to the stops that he places, you will notice that they always fall within the days trading range which is part of his stop strategy. You will also notice that the stops are always less than 2% of the trade equity. And this is where one must really look when considering stop values. Generally accepted stop loss theory says that the stop should not be more than 2% of the trade value or conversely put, one should not risk more than 2% in any trade. So for a $50 stock that would give a 1 point range for the stop. For a $100 stock the stop could range up to 2 points lower. One must look at the percentage and not just absolute dollar value. The trader on this site makes his gains with 1/4's 1/2's and sometimes larger gains. The reasoning that if you are looking for 1/4's and 1/2's you should place 1/4's and 1/2's for stops is faulty. You must analyze the trading range for the stock for that day. With such fractional stops and not taking size of stock value into consideration one would get stopped out too often to make any money. The performance of the site speaks for itself. It would be nice if the other trading sites, ones listed at various times in this thread, would post their performance year to date on their home page. They just let you go through the logs and figure it out yourself. But they list buy point on stocks ( and far too many for one person to trade in a day without a huge trading account) and then high for day. Who says you could have gotten the high for the day. A good trading site for traders that want direction should tell them when to buy and at what point to sell and actually do it and be accountable. But maybe some of these other sites are for more advanced traders. The more trading sites on the web the better--it only adds numbers to our profession and gives us a stronger lobby, not too mention better developed trading technology.
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