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Strategies & Market Trends : Technical Analysis - Beginners -- Ignore unavailable to you. Want to Upgrade?

To: Richard Estes who wrote (9504)	2/20/1999 12:06:00 PM
From: bob wallace	Read Replies (1) \| Respond to of 12039

do you have a particular theory or method of setting stops I run into problems of mm's and specialists running stops all the time this may well be because I trade opening range breakouts, along with [apparently] many others. everyone seems to use the open + "x amount" as a stop I try to use a mental stop, but still get frightened into untimely exits by the pure power of these moves when the price reverses back through the open my latest thought is to set my mental stop at the open +$1 (which by experience would seem to encompass most of the stop running situations) - with my entries that would set me up for an average loss potential of $1.50 to $2.00 plus slippage - my target gain is $3 to $5 points - over 2 to 3 days any comments - especially on the stops?