Hi 582 / CW, Yes, you certainly can't hold onto an opinion of trend direction. I am hedging my entries at my system generated Stop Levels. Only once the trade gets going do I cancel the hedge, and place Stop [break even to begin with] and Limit orders on the trade. That way if the trade reverses I have a relatively small UN-BOOKED LOSS. If the Hedge is triggered I am Long and Short at the same time , on almost no margin. I then scalp back the deficit to Zero Loss, and then close out the Long and Short positions. If I am absolutely certain of the trend direction, I may just close out either the Long or Short position. The relatively small [UNBOOKED LOSS] is very soon recovered. I am 100% against Stop Loss Orders, unless they are at my entry level or in profit. Otherwise they are a BOOKED LOSS ORDER. Booked Losses destroy capital [in my experience]. I would be very interested to know how others place their orders, and deal with these situations. Cheers, U2
