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I was at the Casino last night playing Black Jack and I know there are a lot of similarities between playing cards/gambling and trading. I often get out of trades as the worst time (skunk stops) and as I was watching other people play black jack it dawned on me that a skunk stop is just like taking a bad hit. Imagine taking a hit on your 14 when the dealer is showing a 6. You can't take that hit, taking that hit is just like a skunk stop and exiting at the wrong time.
Sometimes just seeing things different like this can make a big difference, getting out of a trade should only happen when your target is hit, your stop is hit, or when there is a buy/sell signal in the opposite direction of your trade.
Skunk stop is a swing trading concept. For scalps Al would exit far quicker at the slightest hint of trouble or disappointment, and not wait for a signal against him.
You'll frequently hear him say "get out scalp size away from any bar". In a swing trading context that would be a skunk stop. In a scalp context that's a valid exit because counter-trend scalpers shouldn't be making money in a strong trend.
