pj - how the hell do you keep track of so many trades???
Re S/L - my contribution.
I reviewed the rules I made for myself a few years ago (anybody remeber them???) and damn if they aint as true today as then.
The problem I have without enforcing the tight s/l is that without it - without the discipline that this brings - your left to the "gut feeling" - is today my "lucky day" - "oh f#ck it, why not?" - approach to trading
Fine if that is what you wanna do and dont care if your still here in 5 years.
The problem of not sticking to the strategy is really a fundamental flaw in your trading strategy
You have to be willing to say quickly AND decisively that you made a mistake and move on!
If you buy a stock at $1 and it goes down to say 85c - when you bought surely you believed the action would be to the topside.
You were wrong! - What else were you wrong about? What did you not take into account?? Who knows but that aint the point!
This same codicile HAS to apply as the stops are moved up. Say the stox goes to 1.20 and then ticks off at 1.05 - Surely the same issue of what went wrong should apply
Anyway its a lottery either way - you decide the parameters of the gamble!
And always remember - there is ALWAYS - ALWAYS - another train about to leave the station!
