That I agree absolutely. Let profit run and cut loss sooner is almost impossible to do in real trading because you never know whether the profit is going to be there when you take it in the future and once you cut the loss, the loss might turn around and erase itself and become a winner instead.
...That's what makes trading so treacherous...but also...so beautiful and magical. -- it's Part science, part art. But don't over think things or take it too seriously. Enjoy, ...it will all come to you, sooner or later. the skills and lessons. -- it's the Journey that's sexy, they say...not the destination.
Actually its great advice, if you reduce your size and widen your stop you can get the same risk dollar amount wise. You have to adjust for volatility. If you had a 2 point stop yesterday you would of got pop out of a lot of good trades. But there's no one way to trade, everyones different. What works for you may not work for others.
Well said. All the brokers are wishing all their clients are day trade using TA, I hope all the ET can try to figure this out.
I suspect one problem you got is that your stop losses are too loose. You should have taken a lower loss in ES points if you had stops.
A very dumb approach, but for sure is better and profitable than 99% of the day trader dreamer outside there.
Nope - but say it again if it feels good btw - Thur / Friday were not volatile - it was momentum w/ follow through ================== Now.., what's a right way to trade volatility - for us chicken shit day traders Hint - find the mean / trade the extremes / exit back at the mean Enter when every thing inside screaming - Nooooo - price is going to keep going Risk a penny or two - and make 20 cents or more (depending on the instrument's movement) That's the way - uh.., huh.., huh - I like it - uh huh uh huh RN
Day traders have to go through the process of trying and failing. How else are we gonna find the 1% of day traders who succeed? It's like a continuous process of elimination. "Many are called, but few are chosen" - Matthew 22:14