Palsaert,Stops are just a way of knowing when your wrong, don't...

Palsaert,

Stops are just a way of knowing when your wrong, don't get too involved as to where is best to place them. It is obvious where most people's stops are (give or take). Just use them and when they are hit move on. As a general rule I like to use slightly wider stops in volatile times than I would normally use. Stops are obviously just below or above a supp/resi line. No matter what you do never increase initial risk or a big decline will eventually come (assuming long) (vice versa) and just take your account out.

Been a great week although I would have liked to have gone a bit harder on my max no. of trades on a one time. Almost all the ones that I had lined up at the start of the week worked very well.

On candles, anyone can see friday was a buy. Now the question is just when it will turn again? (assuming this large downtrend has not ended) I would look to the fib decline levels and around 4500- 4400. Just manage the risk accordingly. As with trading this market could run straight up to 5400 or friday may have been a one day up and we see 4000 very soon? ?? ???

No trades on at the moment as I tightened up my shorts friday with a time adjusted stop to enable prices to gap over my stop early in the day and then trace up to my stops if the market decided to run like the other friday.