Can anyone please advise me on Stop Losses.
I have been advised to get a strategy in place in readiness for a downturn in the market and need to know some settings to utilise stop losses.
I have used them minimally in the past with some mining stocks but had the settings too fine and got stopped out the in no time and lost a few bucks when the stocks returned to higher prices the following day.
A guy once told me once when things get a bit iffy to take some profits and sell 50%, then ride the market with stops in place on the rest.
As there are many options and settings available what would be a general run of the mill type of setting.
i.e. would it be 6% on the previous day’s closing price??
Would the setting different for midcap and minor type stocks??
