ACC: thanks very much for the BDay wishes....by the time my...

ACC: thanks very much for the BDay wishes....by the time my birthday comes around I am a bit over the party scene and generally welcome a quiet night at home.....and I have learnt that there is nothing worse than having to confront a big christmas lunch with a hangover!!!!


Loser:
Stops I find very difficult to know exactly where to place them. The market is so volatile that you can easily be whipsawed in and out. Gaps down, if you are long, are a big problem, as are gaps up, if you are short....

I am only trading BHP at the moment, no speccies, and I only try to leave 20% of my capital in the market overnight. I really don't care if the price drops because I am happy to hold long term if necessary.

I set an initial stop when I enter the trade just below the last support. The lower the entry the lower the risk. I won't risk more than 1% of my capital on the trade depending on the circumstances. I won't go long if I don't get a low entry...If the price suddenly tanks during the day my stop gets taken out then it's no big deal.....But it doesn't account for gaps down. That's why before I place an order I always anticipate having to hold the position. I don't use margin either