Choosing the Right Stop Loss

I talk with traders all the time about their Stop loss strategies. The number one concern I hear is getting stopped out and then having the trade turn back in the direction of its original move.  This can be incredibly frustrating. In fact, some traders I talk with don t believe in using stops. Let me say right up front… this approach usually ends in disaster! These individuals get caught in the psychological trap of thinking “this trade does not make sense or the market just can’t go higher…” It is my opinion that trading is 90% risk management and 10% entry timing. Why, you may ask?  It’s because, at any moment in a trade, many people are involved… some going long and some taking shorts. Their long and short decisions are neither right nor wrong. In fact, both could be right depending on the time frame being used. In the long run, the difference between the losers and the winners will be how they manage their STOPS.   Bottom line… you simply CANNOT trade without
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