Agree absolutely!LeTiss 4pm wrote:Blimey, 4 years ago
Things have changed significantly since then, but I stand by original disapproval of stop losses.
We have seen BA automation go to a new level since then, so a stop loss is obviously a key part of an automated trade. However, if you are watching a market, a good trader should be able to rescue a situation manually far better than an automated stop loss
Even on my set and forget daytime automation I have several green ups / hedge outs before the off, so that I don't actually need a prefixed stop loss, and on the overwhelming majority of cases, the profits outweigh the losses per event. The loss amounts are bigger when they occur but the wins are also far more frequent to balance this out.