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Exactly...in this business there are many ways to get the job done. The money management I described works very well for
MY style of trading. I probably play much tighter than your standard active daytrader. When possible I like to save the gambling for the poker table
. The main purpose of my post was to show an example of a dynamic style that's different than what's normally taught. I do feel very strongly that one should have a thought out daily stop placed in advance. How much and if it's dynamic depends on your style. I will leave it at that before I start quoting Kenny Rogers song "The Gambler".
