>He uses stop losses
What's the matter, are you scared?
>>1279432
Well, I heard that if you drop below $3.49, Robin Hood suspends your account.
>>1279432
I just think it's not always the best option.
For instance.
Bought HOV at $2.09 per share 6 months ago. Dropped to fucking $1.35 or some shit. Bought more shares to average my cost per share to $1.74
Sold everything yesterday for $1.90 per share.
>>1279432
Fucking pussies use stop losses!! I'm paid to have a position; not change my mind!!! I've still got $40,000 worth of Enron stock. It's not a loss until I take it!!
>>1279666
This guy is going places.
>>1279671
probably going to Belize with MGT
>>1279432
>tfw the turbo only has daily stoplosses and Im sure as hell not getting up at 9 every morning to set that shit.
>>1279432
>He has an emergency fund that just sits there and loses value with inflation.
Jesus, /biz/, get your shit together.
>>1279432
Long equities? No, never.
Short equities or futures trading? Make sure you have a stop.
>>1279432
>used stop losses
Sorry, new brother here but what's wrong with stop losses? Since I started using them to trail gains I've been much more successful. Mostly daytrading or holding a stock for 2 days, mobile trading while working labor so I can't watch live all day. Am I doing it wrong?
>>1280613
>what's wrong with stop losses?
Not really a wrong or right thing.
Some people find them invaluable for discipline, or other reasons.
Those that don't may find them unnecessary, or want to hide their intentions.
>>1280613
This thread is bait, there's absolutely nothing wrong with using stops. They give the ability to control risk and reward.
I think some people who are against stops are just sour grapes. A common mistake among people who use stops is putting stop loss too high, getting stopped and then price going up.
>not using a stop limit combination
>>1282776
>getting fucked when your order doesn't get filled
>>1279461
So robin hood kicks if your poor
>>1279461
Do you mean 3.49 in your portfolio or if you buy in to a stock at a certain price and the shares drop 3.49 from where you bought in? I have never heard of this
>>1279432
My mom uses the "buy high, sell low on a stop loss" method.
STOP BLOWING MY INHERITANCE, MOM REEEEEEEEEEEEE
>>1281636
>A common mistake among people who use stops is putting stop loss too high, getting stopped and then price going up.
That's my biggest fear with stop losses
Who here kicking themself for not stop lossing CERU yesterday?
>>1280613
you realize your losses by doing so
>>1281636
>be me last week
>stop loss UWTI @ -1%
>goes down 1.1%, then up 9%
>>1285938
>be me
>bought UWTI somewhere in jan
>no stop loss
>was down quite a bit
>now have doubled my money
That's what you get for realizing your losses. Never manage a loser, only manage winners.
>>1285859
You have three choices:
1.Not to use a stop at all.
Pros: Not getting shamefully stopped and losing profit after price hitting stop and going up.
Cons: Uncontrollable, undefined risk, if you lose you might lose big. You need to manually close possition, and you might not be able to do so, like some silly guys here didn't put stops on their MGT positions and they woke up a bit later in the morning and lost money, a stop does the closing for you once the price triggers it.
2. Being greedy and putting stop too high.
Pros: Completely defined risk.
Cons: Getting stopped and price going up immediately afterwards. Might cause a lot of butthurt.
3.Putting stop a little lower just to be sure.
Pros: Completely defined risk, not getting shamefully stopped and losing profit after price hitting stop. If you lose, you probably lose less than variant 1.
Cons: If you lose, most likely you lose more than in case 2.
>>1279432
You poorfags clearly lack a quantifiable strategy.
Here's what you need to do. Have a pre-defined upside and downside you're looking at, and know how often your strat produces winners, vs. losers.
Now, one option is to let the winners ride but you need to recognize the waves. Is it a short-term wave, short-term peak that's starting to fade and you're in it for that timespan? Get out. This is why trailing stops exist, ride the wave until it drops.
Suppose you're a retarded daytrader just looking for pennies.
If you know that 30% of the time, you'll stop out at 1.1% and 70% of the time you'll gain 0.8%, great. It'll win, you'll get your shitty profit margin. If you let just a single loss go from 1.1% to 2%, you need an even bigger average gain to win. Problem being, you don't know how to get a 1.4% gain consistently.
If you're willy nilly gambling, just play with a martingale simulator. 99% odds of winning and you look like hot shit until you don't. Better yet, sell deep OTM options in an LLC and if you lose big, the LLC can hit the BK. Taking bullshit gains and big losses, I posit that most of you robithood poors are just flipping coins hoping to make money. There's better (but still stupid) ways.
