Here is Joe Ross's Seminar on "STOPS"
Joe Ross, an active professional trader, author, and educator, is president of Ross Trading International . He holds a degree in business administration from U.C.L.A. He is best known as the inventor of the Ross hook. He has written Trading by the Book, Trading by the Minutes, and Trading is a Business.
In the workbook below, Joe raises the question, "Where Do You Place The Stop?" You will learn which specific items are important to consider for stop placement. You will learn several techniques for placing protective, objective, entry and exit stops. You will learn to place stops based upon natural support and resistance and volatility. You will be taught about small profit objective stops and full profit objective stops. You will learn how to properly trail stops and how to increase the size or your protective stops using OPM. Joe shows you how to "curve fit" market volatility, and how and when to use Fibonacci expansions for objective stops.
- Mechanical Stops: As dictated by mechanized trading systems.
- Protective Stops: To protect against loss, or to protect profits.
- Entry Stops: To initiate a trade.
- Exit Stops: To terminate a trade.
Also Learn About Stops Considerations based around:
- The size of the margin account
- Margin requirements
- Individual psychological and emotional tolerance
- You economic tolerance for loss
- The number of existing open positions already held
- Market volatility
- The rate of trade
- The tick size
Read about this and more in Joe Ross's work book, "Stops- Where Do You Place The Stops?"
Follow Along In Workbook
"The point I'm trying to make here is that a lot of traders end up stopping themselves out of a market when there is no need." -Joe Ross