Zenyatta wrote:Read what I said. Pre-race the maximum downside (in practice) is 15-20 ticks, because the prices rarely move further than that (although occasionally it does happen).
You advocated having no stoploss - I don't think I misread you.
Does anyone have any stats on how often markets move more than 15-20 ticks?
You didn't answer my question re. your upside - Do you aim for x ticks, or do you just let the market do its thing and close just before the off?
And how do you manage your staking?
Zenyatta wrote:I just dislike the stop-losses because I've been screwed over so many times. Inevitably the price eats through my stop-loss, only to come back again most of the time.. there is nothing more frustrating.
There is actually - I find it more frustrating for a small loss to become a huge loss!
A trader I know once came up with an analogy. If your car is rolling down a hill, do you apply the brakes or just hope it will stop rolling? If the trend is making me money, my foot will be going nowhere near the break pedal. But if I'm losing money, I'm not going to rely on gravity being kind to me!
And given the way trends self-perpetuate, that is a good metaphor.