i'm working on my stop methods at the moment and am thinking that with the market the way it is, it would be much better to play much tighter stops than usual.
my recent breakaways (UMC & PRC) have me wondering if a 2 or 3 day low would be more effective than a 6 day low stop loss because of the state of the market. we have years of ranging ahead so market volatility could really hurt profits if you let your winners run straight back into market madness.
i'm trading micro patterns (i subscribe to the chartist) so i generally hold for a short timeframe. i don't day trade, but i'd be interested to hear daytraders stop techniques as i've set a quick trade up on PRC filling the gap and have time to keep an eye on it.
does anyone else change their stop strategy according to market conditions? all opinions on stops welcome