In a casino, it's critical for winners to walk away from the table with their winnings; whether one believes he wins as a result of "lucky streaks" or just statistical anomoly (or expectancy, for those rare players who can maintain an edge), most good casino players heed the golden rule that the longer you stay, the more you lose. When it comes to trading, consistently profitable traders will cite their edge and consider themselves the "house"; meaning the longer they trade, the more they should make. Yet does anyone here (those who trade on short-term/intraday basis) set a stop-loss on their gains and, once triggered, "walk away from the table" and call it a day?
When you truly have an edge, ignoring signals after a predetermined $/point amount, solely for that reason, is simply foolish. peace axeman
...I walk away if the number of of winning days exceeds that of the historical backtest. See my BS poll today in Strategy: Are you Superstitious. Also I have a backtested profit target for every trade and take it if it's achieved. Best regards. - Mike