Got grilled by a day trader in Miami over my stop loss strategy

I was at a coffee shop in South Beach last month telling a buddy about my trades and this guy at the next table jumps in, tells me my stop loss was too tight and I was leaving money on the table every time. He pulled up his phone and showed me his own chart with a bunch of wild swings and said I need to give my positions more room to breathe. Has anyone else had a stranger call them out on their trading style like that?

2 comments

2 Comments

leog6818d ago

So this guy just happened to have his phone ready to show you how wrong you are? Sounds like a great sales pitch. Tight stops are what keep you in the game when the market decides to go on a bender.

avery_fox9318d ago

@leog68 you brought up "tight stops" which is fair but idk, that whole thing with the phone ready just made me wonder. like how often does someone actually have the perfect screenshot to prove their point? feels staged either way. but more than that, do you really think tight stops are the only way or just the safest way? because I've seen people blow up accounts from getting stopped out too early too, so maybe it's a trade off. what's your take on that balance?