| FlyinIL22 - 2/16/2018 11:55
What I'm about to admit to is very politically incorrect concerning trading. I haven't used a stop in years. For example my wheat trade I would have been stopped out at a loss but I sold at a profit late last week. And my current soybean trade is very profitable but it would have been stopped out at a loss if I would have followed typical technical philosophy. I do a significant amount of analysis before entering any trade concerning the length of the position and after 27 years of trading I'm still naive enough to think I can play the odds. I'm usually long and short different trades at the same time which can help but not always.
Hi FLyin,
I might be politically incorrect, but you are in the majority. I understand the why's and why nots. I was taught by a money manager. In that game, massive drawn downs from being over leveraged or no stops, will not be tolerated by the client and can paralyze a portfolio. So, playing fast and loose won't work. After all, the stories of farms being lost that we all heard about, wasn't the guy that got stopped out and it went higher, it was the the guy that didn't get stopped.
Continued good fortunes.
Take care |
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