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Strategies & Market Trends : Book: Hit And Run Trading by Jeff Cooper -- Ignore unavailable to you. Want to Upgrade?

To: Darth Trader who wrote (105)	1/29/1998 10:23:00 AM
From: Steve G.	Respond to of 438

Exactly! The big dogs need a longer leash. I calculate avg daily range and use that as a gauge for stops. Steve

To: Darth Trader who wrote (105)	1/29/1998 10:26:00 AM
From: rocklobster	Read Replies (2) \| Respond to of 438

Darth, I don't understand how one can stop out with a 1/4 loss when most of the stocks I'm following have at least a 1/4 point spread. I'm not saying I doubt you. I am new to trading in the last few months and have been getting into the bad habit of hoping my stocks will bounce back when they start going against me. I have been trading volatile stocks like FGII and JBIL and when they start moving you can lose a point in a matter of minutes. I Have tried to cut losses by placing sell limit orders only to watch the MM's run right by them and then I am chasing the stock down. Usually my mistake has been to stop chasing it and hope for a bounce. I would really appreciate your advice on how you limit losses to 1/4 Do you have Level II to help you or what tools or strategies do you use that help you cut losses? Anyone else out there have any strategies or tools that help them to trade more effectively. Please share with a new trader who is eagere to learn. Thanks In Advance. Richard EOM