Q: where do I set a stop loss on a day trade?

[@carriebailey4455]

In the last second, he stared off into space, as if to remember, a single trade where he spilled hot coffee on his lap and couldn't stop out as the worst trade of his life got away.

[@DaytradeWarrior]

lol

[@DaytradeWarrior]

You win best comment

[@joeygarza9550]

I know these 'YT shorts' are annoying for some creators, but this was actually a very useful reminder to a FAQ of trading that normally gets lost and forgotten in hour-long lectures.

[@DaytradeWarrior]

Thank you!

[@andrasszerencses]

Yep, the most important advice ever.

[@DaytradeWarrior]

Thank you!

[@urbanexplorer260]

My rule is 5% below my entry price, not willing to lose very much however if it does skyrocket I maximized my realized profits

[@harvezpierre1850]

U got stop to early. I use 6 % but I been stopped too early and the stop rip afterwards

[@urbanexplorer260]

@@harvezpierre1850 updated my SL to 8-10%

[@FatMan888]

Thank yo Ross your a great teacher you helped me so much ?

[@DaytradeWarrior]

Appreciate that, thanks!

[@cheemomugdoo799]

Yeah, just below support, then all the market makers spike it through support to clear the stops out and then take it higher.

[@DaytradeWarrior]

Unfortunately that sometimes happens, Break out or Bailout!

[@fortyyearfitness]

It always seems to go down and get my stops, then immediately race back up

[@boonwolf9266]

Sounds like me lol but I changed my lower stop to % rather than set limits. I miss some of the highs but also haven't had a red day in over a week

[@DaytradeWarrior]

It happens at times, just part of trading.

[@rougeknight8495]

its liquidity grab, try to enter a trade after liquidity grabs.

[@Eric-jk3oi]

Put ur stop at 0. If they're going to knock you out then they have to bankrupt the company. Take everyone down with you baby

[@deltalordtrading]

because the pros know all retails put their stop there.. wait for the liquidity grab first...

[@seavalleyjourney423]

Great short!

[@RNRPhHMC]

Thanks for sharing !

[@DaytradeWarrior]

Of course!

[@boonwolf9266]

Since I implemented trailing stop % on all my triads the beginning of the year I have only had 1 red day. That day was because the stock I played and the broker I used don't allow %TSL

[@not_enoughmana]

I've had some success using factors(2x or 3x) of ATR to calculate the TSL as well. Some folks will say you're leaving profit on the table when it comes time to cash out of the trend but I think it can be really beneficial to riding a trend all the way to the top too. You can always tighten the stop as the trend gets tired as well.

[@DaytradeWarrior]

Nice, keep it up!

[@not_enoughmana]

How do you feel about factoring ATR when calculating trailing stops to ride the trend as far as it will go?

[@boonwolf9266]

Myself I use trailing stops you miss out on huge runs with flash flushes but on the other hand you lock in gains in the event of mass flush without recovery

[@DaytradeWarrior]

It could be helpful, though it would be good to back test that idea for yourself.

[@blueninja2247]

Do you think that using a stop loss when scalping is a good idea?

[@DaytradeWarrior]

Yes definitely!

[@GiovanniBusiness]

Can Ross make a video devoted to micro pullbacks?

[@DaytradeWarrior]

If you search the channel, there's already a video on that!

[@Terrell-z1u]

Thank you!! 👍

[@DaytradeWarrior]

You're welcome!

[@gwailo27]

with a discretionary SL I guess you'd have to average out your losses over a set number of winning and losing trades to calculate what your average risk is?

[@DaytradeWarrior]

That's right!

[@frankdelbosque244]

Ross Is Da Boss!!!

[@DaytradeWarrior]

Thank you Frank!

[@Drunker3232]

thank you Ross

[@DaytradeWarrior]

You're welcome!

[@DigitalYojimbo]

as much as i respect ross, the best way to set a stop is contigent on stock volatility.

[@DaytradeWarrior]

Thank you!

[@tobiasornotobias]

With Intel I was more patient today once I was green and had a long 700 usd trade 👍 With large distance I moved SL up

[@DaytradeWarrior]

Nice, green is good!

[@joshs1709]

Is it true that when you set a stop it goes to an order book and it's visible to market makers for example?

[@kaejolie]

yes. They can see it and they will stop you out most of the time.

[@DaytradeWarrior]

Josh, yes, if it is a market side stop. When Ross enters a position he does not set automatic stops, although many traders do and that’s okay too! Instead he uses a “mental” stop of 10-20 cents, and will sell if the stock drops that amount by selling with an offset 5 cents below the current bid.

[@danielzpcsk85]

what about trailing stop loss?

[@DaytradeWarrior]

Ross does not use trailing stop losses, though it can be a useful tool for some strategies.

[@tonyomar7150]

hi ross, we miss your face buddy. good to see you again 😊

[@DaytradeWarrior]

Hey Tony, thanks!

[@jlrgmedia2418]

On what time frame???

[@DaytradeWarrior]

I focus on 1min chart, but this is valid on 5min time frames as well.

[@craigrowe3249]

Set your stop in the place where if it is hit it means your trade idea was wrong

[@DaytradeWarrior]

That’s the best place, but sometimes if I have high conviction in a breakout I’ll buy high and then use a tighter stop

[@ArtBuddy-bf1is]

Where is stop loss