When you say 2% stop less do you mean 2% of SP, or 2% of your gain, ie gained 10%, less 2% therefore stop loss at 8% of gain. Clear as mud?
Trades cost me $20 each way (I'm with, ahem, eTrade), so it does play a part in my decisions. Take BJT and HFA and WCU - I could see the pattern this week and could have played BJT beautifully for a few ticks for several days, but my confidence to lay a decent enough wager on those to make it really worthwhile isn't there yet. But I think I've been thinking about stops the wrong way and now have it nailed. Was trying to have a trailing stop and with the eTrade system it only works on the price of the prvious close, so not great for daytrades. But, if like you say, I have the stop ready to hit the go button as soon as the order is filled then I won't have to be so scared of that happening. I reckon there's a whole bunch of money to be made while instos are playing games selling back.
