At the VERY LEAST place a crash stop on your Trades!

Have you ever traded without your protective shell?  If you have placed a trade without stops then you’re certainly exposed.

While there are several thoughts about how and where to place a stop, at the very least every trade should have a crash stop in place.  This is a stop placed at a point where you know you are wrong about the markets move or trend.

One way to determine where to place your crash stop is to look at the next higher time period and place your stop above the last swing high for a short trade or below the last swing low for a long trade.  So if you’re trading the 15 min chart, use the 30 min chart to determine your crash stop for your trade.