in day trading
stop loss is not to get out of the market,
it should be used
to reverse the trade direction,
but with a golden rule
not to switch direction more than 3 times at all!
when stop loss is used
as a reversal-switch
the trader is under pressure
(and rightly so)
to think thrice before
setting the stop loss
and triggering it spot on!
this is likely to force him/her
to learn indicators hard
and have a clean dependable method!
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