tight stop losses being triggered, page-15

Oscar you need to understand that not all traders use the same stop loss theory. Yes you have pointed out one of many. Again I re iterate what works for one does not work fo the next..

For example, I purchased BUY when I thought to myself a tweezer bottom. Eg 2 Dojis after a short fall 14th & 15th sept; now i would have liked to have seen more volume kick in at that point however it didnt but still thought ok lets give it a go.

The third day is probably the day I should have exited as no response to the price. The fourth day naaa not gonna happen so exited.

My target was 100,000 shares .015 = .035c $3,500 profit if had of gone my way within a given time frame and not broken my stop loss. As can be seen do not have a high target so need to keep a very tight stop loss. My risk in this trade in the end was about $60 for brokers fees, if had of done as I had anticipated would have been $3,500 profit. Yes all hell could have broken loose overnight and taken a hit in the mornings trade but that is the risk. I would then have watched volume, is it a dump or just a light sell off and likely to pull back up for my exit?

Plan your trade and trade your plan what ever it is. The type of stop loss system you mentioned does not work for me. It seems that you get swung out on a big loss then goes back up. A tight stop loss using either momentum or potential works for me. If the momentum dies or the potential did not occur the safest is to exit. It is easy to re enter if proved wrong, but harder to exit once loosing too much money.

I do respect the way you operate, but there are many ways to trade or invest. One of the day traders in the traders forum makes money scalping as many do, and only looking for a fraction to profit. Either you are good at this or not, I hesitate too long usually so does not work for me.

However I take my hat off to those that are successful with it as they can do quite well for a few minutes work.