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I am trading currently with a $1,500 stop. However, in the event of some black swan where the market drops 1000 points, I could theoretically lose about $4,000 max on average...but even with a 1000 point drop (unless it occurred near the end of the trade's life), I would likely not be down that much.
On average though, my stop each month is $1,500 and my target profit is also $1,500. I've yet to hit my target profit (although I came very close one month), but I've also yet to be stopped out (although, if you've read this thread, you'll know I would have likely been stopped out during the big drop at the end of August, but technical difficulties and my own stupidity plus some dumb luck allowed me to escape that fate).
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