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Strategies & Market Trends : LastShadow's Position Trading -- Ignore unavailable to you. Want to Upgrade?

To: just bearly who wrote (9566)	3/3/1999 7:31:00 PM
From: Jay Lyons	Read Replies (1) \| Respond to of 43080

>My goal ideally(and logically) is to always make more on my winners than I lose on my losers.< Appears logical, yet Gary Smith, who position trades using congestion breakouts, and writes a trice weekly column on The Street.com, uses a 6% stop loss, and a 5% sell stop. He maintains that tested historically, this is optimum for his system, which produces (as I recall) about 73% winners. He also wrote once that backtesting showed that 5% winners and 32% losers provided the greatest profit, but he wouldn't be able to sleep at night.