daniel_m said: Of course there are more opportunities to catch 3% moves than 30% moves. To give you a daytrading example, take a $50 stock, of course there's many more opportunities to make 10cents than to make $1. It doesn't mean it's "easier" to do though. I absolutely agree with this. In my experience it is not easier.
Choosing to hear what we want to hear is human. Everyone has a different style; whatever works best for you. Posters could go on and on about expectancies, probabilities but I think the only way you will find out is to try it. Paper trade 2 accounts and decide for yourself what works best for you. Pick up this book : Tharp's Trade Your Way to Financial Freedom and see if the ideas make sense. It might help you with developing a system. It doesn't seem like you have one. p.s. Cut your losses and ride your winners? (unless of course in the time frame that you are trading in rarely produces anything over 3% then I suppose small targets are ok for you).
Ditch: What is your R:R? Is your risk smaller than your target? daniel_m: I'm not sure that the relationships are linear. ie, 1%stop/3% gain = 10%stop/30%gain. So much of that depends on the strategy you employ. I'm not sure, too. It was just an example. In my trading I am using the average true range instead of %.
I doubt any serious trader out there hasn't read that book. Here's an idea. Why don't regulators make reading and explaining that book the requirement to trade at a prop firm, instead of that freakin BS series 7 rubbish.
i shouldn't even be responding to that. i don't know about you, but i don't think discussing ideas is a bad thing.
Sorry, I meant it more as a joke. It sounded to me like all you were saying is, "geez, developing a positive expectancy style is hard work.." Of course it is! I agree. Discussing things is a great idea. Don't let my comments dissuade you.