Your question indicated that one can only post in this thread if he himself has a trading journal. I didn't see such a requisite. But anyway, let's not get off topic.... I think Cornix is going for too small gains. With these kind of volatility like we had in the last few days, we could expect to have a bigger winner. So question to Cornix: How do you determine your exits? Time frame, profit target, signal, or what? It seems to me if you would let the winners run, you could bag much bigger profits. So far the largest was 3.25 pts...
Statistics applied to setups mostly tells me how much to risk and where to exit optimally. By the way, the largest profit was so far 7.25 points (trade made on Thursday this week). P. S. Profits are always relative to the risk taken. If you grab large profits, but have to risk more for that it doesn't allow the same leverage use in order to keep risk within limits of sanity as when you risk small. Having said all that, I do catch very nice profits occasionally, but only when there's still perfect timing and risk is very low.
Generally you want to enter where other large size orders are likely to be thrown into the market as well. To put it into simple words: we need friends to drive prices our way. Certain price action around certain levels is the key to catching moves of the most likely immediate follow through without the need to take any heat.
cornix, what is your average daily screen time considering you put on one trade on average? thanks, tihfa
Just 2.5 first hours of US regular session mostly. Sometimes a bit longer, but rarely much longer. I used to trade much more intensively in past years, but now priority is larger size, less time of being a "screen slave" and more relaxed trading.
I've noticed more than a couple of successful people having that exact mentality. Take advantage of early AM volatility make your nut and take the rest of the day off, rather than over trade and or give it all back.