[brownsfan019]

Originally Posted by TRex »

I thought I was very clear.

I trade with a hard stop and depending on the next entry, I may or may not take that stop. For example, if there is another entry exactly at the stopout point--let's say a very high probability setup--I will forgo the stop and and double my position by taking the next trade. My trading plan dictates whether or not I do that AND I'm always aware of the next couple of entries before I take any trade. This is known as trade management.

I hope that eliminates your confusion on the matter.

So what you are saying is that you will have a hard stop on your dom, assuming that's a market order, and if another signal is possibly forming, you'll pull that 'hard' stop in case another signal appears? What I am saying is that if your hard stop is at 1500 and price is approaching 1500, it could very well tip 1500 before another signal would appear.

Point being that calling something a 'hard' stop when it can be moved or overridden is not a hard stop. That's more of a fluffy, soft stop.

Originally Posted by brownsfan019 »

So what you are saying is that you will have a hard stop on your dom, assuming that's a market order, and if another signal is possibly forming, you'll pull that 'hard' stop in case another signal appears? What I am saying is that if your hard stop is at 1500 and price is approaching 1500, it could very well tip 1500 before another signal would appear.

Point being that calling something a 'hard' stop when it can be moved or overridden is not a hard stop. That's more of a fluffy, soft stop.

That's not what I'm saying at all. In the instance you described, there is no hard stop on the DOM. However, there is an order at the next entry price.

[brownsfan019]

Originally Posted by TRex »

That's not what I'm saying at all. In the instance you described, there is no hard stop on the DOM. However, there is an order at the next entry price.

OK, so we are back to the discussion of using a hard stop or not. Obviously, by this response, you do not use hard stops. Hard stops mean just that - they are hard and do not change. That's not to say it's wrong, but I was having a hard time understanding how a trader could say 'I use a hard stop' followed up with 'but sometimes that hard stop is moved or not even on the DOM'.

That's not a hard stop.

Correct, in this instance, I don't use a hard stop, which is consistent with my first post that you addressed.

Aside from this particular situation, I use hard stops. I hope that clears the matter up for you.

[Reaver]

Originally Posted by TRex »

Correct, in this instance, I don't use a hard stop, which is consistent with my first post that you addressed.

Aside from this particular situation, I use hard stops. I hope that clears the matter up for you.

Yes, very much so. I think we are pretty clear on how you trade.