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ES Mini Stop Loss and Exit price input
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Created: by Jdesey Attachments:0

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ES Mini Stop Loss and Exit price input

  #11 (permalink)
Trading Apprentice
Oakville OntarioéCanada
Futures Experience: Advanced
Platform: tradestation
Favorite Futures: Futures
Posts: 2 since Aug 2015
Thanks: 0 given, 0 received

Jdesey View Post
I have searched for this and did not come up with a solid answer... I only trade ES Mini... I seem to struggle with my stops. I like trailing stops cause it is robotic, set it and let the trade take me out. But how wide? it seems to me lately the number is 2 points/8 ticks... one thing this forces me to do is keep losses manageable, but let my winners run... I have had a tendency to take profits too early...

anyone who trades the ES have input? what do you do for Stop loss and exit price

jdesey, your question of where to place a stop on the mini S&P contract is a very good one and one Ive been asked many times. First there is NO simple answer that applies every day. Some days when market volatility is low you can work a tight stop of a point or two depending on your entry point (ex if the make t is bumping up a previous resistance area). However on days like we had last week in the S&P you would get stop out quite often right away as the volatility was incredible. So to try to give you something to consider try to factor in the Implied Volatility of the at the money put and calls. When that number is high use a wider stop loss level. Also when the day starts check the overnight market and see what the high low was overnight. If it was fairly tight (ie 4 or 5 points) you could consider working tighter stops. With respect to stops, in order to to prevent getting stopped out too often try not to have positions on right before economic releases. The S&P will spike one way and then go the other purposely to take out the small stop orders. best of luck in your trading

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  #12 (permalink)
Elite Member
Sydney, NSW Australia
Futures Experience: Intermediate
Platform: Ninjatrader
Favorite Futures: ES, CL
Posts: 26 since May 2015
Thanks: 17 given, 19 received

Basically I use Mikes theory of setting your stop to the point that a trade would no longer be valid.

Additionally I use ATR measurements to try and make sure that I will not be taken out by market chop, and if I am likely to then the trade is invalid and will not be taken.

Last edited by TraderFish; August 23rd, 2015 at 08:13 PM.
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