Stop loss

[venice]

Anyone got some advice. I bought AMS on the bounce the other day and put a tightish stop loss below the low of the previous day. At 16h48 a random trade triggered my SL and kicked me out now 6,5% later I am pissed. How could I have done this different any ideas?

[asylum]

did you buy the share or a derivative?

[Copper]

Set a mental stop loss. But you need to keep a sharper eye out on the intraday movements and weekly chart movement. I dont use stop losses any more (very stupid idea as most here would agree) but constant triggering caused me to continously kick my cat Felix...who is now late from internal haemorrhaging (RIP). Fortunately i'm much wealthier without the stop loss but i'm sure some clever forumite has better advice..

[555]

Venice. Check Matrix ( MIX ) someone has two trades in just waiting for a stoploss to trigger thats setup to sell at any price. This also adds to the danger of an automated stoploss not setup properly.

[SKALA]

Copper, I agree with you. Price spikes with on logic and idiots trading a few shares have cost me dearly with stops on SHARES. Not talking about derivitaves, although I think stops dont work on installments. Set mental stops and keep to them; I tend to use resit and support lines and not % levels.

[venice]

I was trading SSF,s

[SimonPB]

venice, firslty no stop loss means you will go bust. That I promise. An yes this time it was a nasty expereince, but trust me this is a part of trading and will happen again. point is that there is no perfect stop loss system, they all have flaws and all fail sometimes in that you get stopped out just before the move you expected. The other side of the coin is the times when a stop losses saves the day, but we tend to forget about those and certainly nbody ever comes onto a forum raving about how great a stop loss is and how it saved the day.

[venice]

Thanks Simon needed to hear that. After a long string of loss it is upsetting to get kicked out of a profitable trade. Just needed a shoulder. Thanks