Who sees your stops

Thank you for your kind words and visions of many dojis

Quite often I only put in a VERY distant disaster stop that honors my max loss pertrade, but many of the setups I trade on are SO well confirmed that any invalidation of the expected price action means I want out of the trade immediately, hence a tight stop.

 

Whether seen or unseen the pros know where to go to hit them and they will do it just to confuse everyone even if they take small losses. Simple as that.

 

Hey NOD,

I use mental hard stops – and set them at a point where I know the reason I entered the trade has failed

If that point also happens to be at a logical point – then I will reduce my initial share size a bit and move the stop point out – I can always add to it later.. or accept the greater risk and see what happens (I should add – rarely do I exceed 1.5% risk on my base account, and never exceed 2.5%)

Btw – I do not recommend newer traders use mental stops as they are too easy to violate

However I know if I don’t honor them I will break my account – been there done that


Take Care Ma’am

RN

 

LOL

to all of the comments.

Market Makers can and will hit your stops.
They see and create a market.

The Smaller the Broker/Dealer the more often you are screwed.

Retail Forex= Joke Name them, I laugh-

Trade with the largest bank, under the radar and dont become a target.

 

NOD,

You bring up a great point here

We must always have an emergency back up plan, or two

I have the hard wired desktop running

I have the laptop running with a wireless connection

I have my emergency contact list within arms reach every day

And based on last year’s one failure (platform lock up) – I verify the contact list is accurate every quarter – I added that “to do” to my business plan


RN

 

it's typical of a newbie to write how his fx broker stole his money by 'manipulating the price'
to hit his Stop

regardless of who the broker is, ime ALL fx brokers' price data move virtually the same at
the same time including the Globex currencies, tho there may be a difference of up to 2pips
between their prices

however the price moves regardless whether or not stops exist and all the retail fx brokers
including Globex are only a small part of the daily $ volume of fx trading, so the 'Stops being
seen' idea is nebulous, however, as i was saying just last week:
"i don't analyse other instruments in such detail as the 6E/eurusd, but you probably
know that the euro has a tendancy of repeating, that is it doesn't run in a nice easy
1 2 3 4 5 abc continue as some other instruments do, it forms what i refer to as ABs -
Reversal formations, so an ABC can form for example AB A, B, AB, C then the next wave"

now Stops aside it's an interesting subject to try and understand the how and why of price
movement/trading since the better one understands it the greater one's profits
so i think Kicking has raised a valid and important question, more so if it also goes to my
broader question — 'what is the how and why of price movement'

 

Aye, have read your posts and know the tenet of move-in-the-direction-the-signal-indicated-NOW-or-seeya is your general MO I guess I was thinking in terms of MY somewhat discretionary trading where I will sometimes hold a position beyond where I would have a potential stop if something else has changed, like the whole market or industry the stock is in has turned and this one is lagging a bit, it is just a few more cents to a marble solid support/resistance line or even if it has languished in a sideways trend for so long that it is doing the tango with the 20 bar SMA. depends on the day, but half the time for me, that type of indecisive motion translates into scratching the trade.

so, am i answering the question as to who sees? no, but as i believe the redneck had pointed out, even the regular folks like you and me can give an educated guess as to where some stops are and especially with the less aqueous stocks, one can supposedly buy/short a block and push it through the support/resistance, let the triggering stops fuel the move out a few more cents as you unwind your then unwanted position and pick up/borrow the stock at a better price reaping the profit as it moves back into its range. of course, i have never done this but a friend of a friend of a friend has made some money with it, or so they said to my friend's friend

 

I once knew a guy who took pride in not using stops. One day, he was down by more than 20 handles trading ES. He told me he wasn't worried because deep down he "knew" it would come back up. Sure enough, within the next two hours it crept back up to just about where he got in. Well, let me cut to the chase and jump right to the final chapter. The dude is no longer around.

So when you blurt out "Placing a stop is akin to asking for a loss", I say think again. One of these days, you will wake up to realize that the market ain't coming back to give you another chance and, more sooner than later, you'll be on fast-track to the poorhouse.

 

conspiracy theories???? Of course stops are taken out and 'swept' for, this is part and parcel of the game, you should know this if you've been around for so long...