Use smart Money Management.
The biggest reason traders quit trading is from incurring huge losses due to poor money management. Use stops, they are there to help you.
There are several different stop loss strategies and they can all be quite effective. Take some time, do your research and see what type fits your trading style best.
Every success with MarketClub,
Adam Hewison
President, INO.com
Co-Creator, MarketClub
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you and the team are the greatest! re stops...the major exchanges are doing away with stop loss and stop limit loss orders, as well as good till cancelled orders effective feb 2016, no?
happy holidays and thanks for sharing all of your experiences and expertise for all of us small fry investors!
Thank you D.W.!
Yes, stops will no longer be accepted by the NYSE beginning on Feb. 26th 2016 - http://www.cnbc.com/2015/11/18/why-will-the-nyse-stop-accepting-stop-orders.html
However, up until then they are a great tool. It will be interesting to see how this plays out in the future.
Cheers,
Jeremy