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BrianS

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  1. BrianS

    Help! Losers way bigger than Winners!

    Many traders I have met seem to struggle with taking too big a loss on a trade. I have done it a few times, well actually more than a few times, myself. A few weeks ago, I even watched Andrew do it live in the chat room and it sparked a lot of great discussion. Your situation seems a bit different on the losses bigger than winners though. I think the typical experience on large losses is to keep moving your stop to the next technical level, maybe averaging down a bit because you just cannot be wrong this time, or something like that. Your strategy could be skewed to taking losses because you take profits so quickly. As a matter of preference, I would never take a trade that only had $.10 of first profit target unless it was a very low price stock, say under $1.50. If there isn't more volume and movement than that, then maybe the stock isn't really in play. This is just speculation on my part though. Have you considered looking at your winners where you took first scale out at $.10 or $.15 profit to see if those exits were at a good technical level like support/resistance, prior day close, or one of the moving averages or if you were just getting out to make sure you didn't lose? Also, on your winners how many losses would you have had if you would have played for a little more profit? The answers to these questions might point out whether you exit too quickly or aren't finding the right entry on a moving stock. Both good to know.
  2. Hi Dhat, I have also used TWS and will trade from it. I have a super beefy computer so I have not ever run into slow platform issues. I have also never configured any hot key entries but I think you can do it. My primary dislike with TWS is that I just don't like the charting. I don't like that you cannot see different shades between pre-market and regular trading. I find the scaling clunky and just find making separate windows a pain. I also don't like their drawing tools. All of these things could be overcome I am sure. As Peter mentioned above, they used to not have VWAP that was intraday which is what drove me from the platform but that does seem to be fixed now. One pro is that the symbol linking with Trade-Ideas always worked well for me where ThinkOrSwim would always break. If you are trading larger time frames, I think the order entry is just fine but a lot of people in the community seem to trade a little quicker than I currently do (or am able to) so they might need the faster execution of a platform like DAS or maybe multicharts. Lastly, I also had a little trouble getting data turned on and found that you could not do it through the app but have to go and log into the website. So Peter's last point seems spot on to me. I always feel Interactive Brokers takes pride in trying to confuse me
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