Hello!!!
I've been trading for almost two years now and am trying to organize myself stoploss wise. I've been reading the book Trade your way to financial freedom - Van Tharp, which has got me thinking about stop loss strategies.
If you don't mind sharing your opinion about stop losses, I'm interested in hearing from different traders. I know there are many different ways, here are a few mentioned by Van Tharp:
- Daily ATR times 2 or 3
- Monetary S/L (What I currently use)
- Estimate MAE (Maximum Adverse Excursion: Analyzing Price Fluctuations for Trading Management (Wiley Trader's Exchange): John Sweeney: 9780471141525: Amazon.com: Books)
Also,
- Do you move up your s/l if the trade moves in your direction or do you just leave it where it is?
- Any other interesting thoughts about managing risk?
Appreciate any other resources or suggested readings!!!
sKratch1989