proactive investors lunch in Melbourne today, page-16

Bhutos, you seem quite savvy.
stops are BS unless you are a 100% mechanical system trader and have a tested system that is profitable (in my humble opinion!)
I have read literally hundreds of articles saying stops are necessary.
but they are not. Its a fallacy. And does not apply to all.
slippage
brokerage
false breaks
getting stopped out and not taking a new position
they will kill you
with oilers buy early, be patient, take the pain if it comes, but they will run at some stage before drilling.
I've traded oilers for many years with no stops and can assure you that you don't need a stop if you pick an oiler with a good drill target and is well funded. Stay for the ride.
Buy on weakness. Sell into strength. Take a punt if you want, but not with the whole stake.
not every trade is a profit but the success rate is good enough for me to be still here 20 years later and have been out fishing this morning instead of joining the masses to go to work.
Trade repetitive market behaviour, not a single good story.
Many people just do not want to see it.
There is nearly a 100% chance PVD will run. Its just a matter of when and by how far.
So why sell if it takes a short term dip? Its madness.

Cheers
Gosouth