All this talk of stop losses has got me a little affraid. I only trade strictly blue chips such as BHP,WOW,CSL to name afew.There are only around 10-15 stocks I trade and they are all in the asx50,never used a stop loss.I do my best to pick the bottom on the charts and ride it up and sell.Pretter basic strategy and its worked very well for me so far.The question I have for fellow traders is this: If a super fund or just your typical "buy and hold" strategist purchase shares on any given day,they dont look at the charts to determine if a chart has topped out and retrace.The mentality is that they are there for the long haul and over time the share price will go up.This happens more then 90% of the time with the buy chips(of course theres a small chance it wont).So what difference is it for active traders that try to pick bottoms and the market falls away,they can just leave that capital tied up for weeks/months until it recovers?I know id rather just wait then take a loss.Just my opinion guys I'd be very interested what other people think of this strategy.
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