Ico, with all due respect, there is just one problem I have with stops. My significant trades are out of my IRA. Quite often, I am using funds that have not cleared. I'm allowed to buy, but not to sell without incurring a "Good Faith" violation. If I get three of those inside a year, I cannot trade with these funds at all until they clear for a period of 90 days. I try like hell to stay within the rules, but it would seem that I always have 2 violations. That is where I stand right now. A tight stop on anything I own would most likely put me over in this market. So unless I am trading during those few times I have cash that has sat around for 3 days, I almost always must enter a trade with great caution. I will probably have to hold onto it for at least a day or so. This has cost me money on both good and bad trades and I cannot tell you how frustrated I feel at times. Still, it is a part of trading I have learned to live with. If I buy something and it rises or drops "significantly," I will trade and take the punishment. This is not exactly a tight stop.
Regards,
Jay
