Stop Losses with the Double Hit Stop Loss Method! 1️⃣ 👇

[@joeryan8262]

"Whats the worse that can happen in an hour" last words of the GME shorts lmao

[@joeryan8262]

My man is always teaching us about current market conditions without telling us lol

[@LukeEllisFX]

👍🏻. I personally trade based on a liquidity delivery perspective. Adapting to the weekly range. Took just over 2 years to become consistent. Well worth the grind I love the trading field 👍🏻 Good luck to everyone reading this.

[@TheCustomer]

The problem is some stocks once you get in will drop by 5 or 8%. So if I set my stop loss at 2-4% I will be out directly. Next day its +10%. Whenever I keep my stop loss on the wider side, it never bounces back lol.

[@yoxiee24]

Maybe set an auto reminder at 10% or first level and a hard stop at 20% or second level if not to far.

[@jimle8444]

What about the gamestop method?

[@petersmith2112]

I like this idea. With one broker I used you could have the stop triggered by a double hit of the buy or sell price (which ever one suited the trade). I will try out a price alert at the stop I would have used with a calamity stop in at higher level and then see where the trade takes me. I will use it in a demo account first though. Thanks for the great ideas and education Mark 👍👍

[@leowgl1472]

how to implement double hit in ibkr? thank you!

[@aliali-nl4cf]

Yes

[@jayrakmoola8137]

only time i might consider a stop is if im in a super volatile market and those uncertain times , or if im about to go to sleep but most of the times i wont even hold a position unless im aware and awake . I don't have much of a life other then this so if i did maybe i would use stop much more but I guess it just depends really on the situation, most times im just scalping or planning setups and then on to the next .

[@velituncercolak7041]

I prefer using 1 exact SL, if SL works it works. If market comes down then I am in once again. Otherwise, I may lose so much if the market goes rapidly.

[@blackpillbishop5016]

Honestly - this is a recipe for disaster

[@martinsvensson6884]

No its not. It another opportunity to get out... before it hits you real stop loss. Just another method.

[@jayrakmoola8137]

do opposite of what most retail traders do :]

[@ukspreadbetting]

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[@nazarik1488]

like