All right? So I'm here to answer another question about trading and the question today is Russ why don't you use trailing stops in your trading And the answer is twofold. So the first part is when I first got started trading I started as a scalp trainer breakout trainer, taking quick trades, getting in at four, getting out at 410 and you know I wasn't holding long enough. The trailing stop at that point even made sense I was just trying to catch my 5 10 15 cents a profit a day and get out all right. So for that strategy, it doesn't really make a lot of sense if you are trading a lot pre-market which I am Now my trailing stops don't work pre-market they work during regular hours, but not during pre-market so I can't use it at all I find myself really so focused in the trade on the level two and wanting to get out when I have profit.
The trailing stop just doesn't work for how fast I trade.
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For your momentum plays, do you use hard stop losses?
Yep, well explained
Thanks for covering this. I forget you trade a lot pre-market and that makes total sense.
now this is what I call good
How can I find a brokerage where I can trade in the premarket? TOS doesn't seem to have it available.
How the times have changed! I remember when Ross never traded pre-market because of a lack of volume. I think he changed during the 'gamestonk' days, and now I think he trades more premarket than after the open (who cares as long as you're green!)