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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures

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To: Jimsy who wrote (23292)	5/14/1999 5:08:00 PM
From: SE	Read Replies (1) of 44573

Yes, I am online. I set physical stops for two reasons, both which I learned the hard way. First, since I am working a day job as well as scalping the minis, I am sometimes unexpectedly called away and cannot watch as closely as I would like. With a stop in, it is not the end of the world in situations like that. I always place the stop at the time I place the original market order and then set up a cancellation order so that when I want to exit I can cancel and do a market order exit at the same time. It gets a bit crazy if I want to cancel and replace the stop a couple times, but with practice I am getting better at that. The second reason I put a physical on the books is that I find if I don't I am prone to the "it will come back" disease. It is easy to lose a lot more than one originally imagined when that disease takes over. A physical stop keeps me honest.....

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