Thats interesting, what kind of stop loss do u use then? U dont have any emergency stop loss?
I prefer an exit based on an indicator or price action rather than a line drawn in the sand that the market does not really care about. If you read my other thread about the testing of the SP500 strategy then you will see that I do like to check what the probability of my exit conditions not being met for a very long time are and then maybe use a time based exit if a trade has just been going on too long.
As for emergency stops….. I used to use them until the last big fall in the DAX where I took a £800 loss and then watched price almost immediately go back to where it came from! Usually when markets fall rapidly they bounce back almost as rapidly these days with all the algo trading going on out there.
