thanks for your participation; yes, just as you said "market does not care about trader's expectations or goals" and what is more most time we can't confirm where market will touch; it is usefull for us I think that we set a goal, because it can let us out from the uncertain market; Trading involves some skills and alse ourselves, so it is meaningfull to close orders / stop profit accroding to top 10 tradings of many years(which show your best tradings and your common trading some time will exceed them but not often). Of course if we can understand market well most of time and can confirm where it is going on and where is the end; that is perfect but very difficult I think.
you do not need to confirm that what goal? the poster to whom i responded indicated that this goal should be certain amount of profit, which is in relation 4 to 1 with anticipated loss... this is incorrect the goal of any trader is to enter the trend when it starts and to exit it when it ends that's it ! you may ask then how to determine where the trend starts, and where it ends , and what is the definition of the trend, and how to follow it (manage the trade).. well, those are the answers you have to find yourself but at least you will be looking for right answers to the right questions
I'm sure there's more than one way to achieve the end game. For me, it's making money to spend on other things. I would rather be lucky than smart. I don't need to know whether the trend is going up or down next when I'm up a lot of money. And there was a time when I used to ask those questions only to watch the market and profits get away from me. I'm open to other ideas on making money - just haven't heard of any yet that seem realistic relative to real trading and my goal of making money.
I like your idea but. I tried but was not very good at spotting any trends consistently. To me it is almost as futile as saying just "buy low and sell high". You have any suggestions, books, websites I can read up on it? Thanks.
its a few steps further than buy low sell high because correct definition of the trend not only allow to enter and exit the trade correctly , but also to manage the trade nothing that i can recommend one can start with classical technical analysis, but will have to be able to develop on his own much further upon that
By definition, swing trading defines trends using historical data. When it's time to execute a trade you don't get to trade on historical prices. I agree with you, it's the same as buy low sell high. You won't know whether you got it right until there is enough Historical data after the trade. Monday morning quarterback!