yeah but he wasn't talking about ICs. An IC is a range play and eventually the stock will move out of any range. So taking the wins when the stock starts to move might be a good idea then reestablishing a new range play.
Instead of letting losers run, it is better to keep deep stops and large portions of positions will turn back into favor. This also gives you more time to analyse and study the market action further and take better decisions, even if it is intraday position. It is always good to let the winners run.
yea, cutting winners and keeping losers goes against everything i remember reading when i was a kid. and stuff was more legit back then.
Hello kevagonia, I definitely focus more on letting my winners run much as possible. I focus on trade management more then anything. My main focus when manually day trading is to make sure when I exit a trade, price starts going the other way. I don't like exiting and price keeps going in my original trade direction. So yes, for me, I like to keep big profit and less losses. The way I see it, I would perfer every trade to be a +100% ROI if possible. But this is what makes sense to me. Someone who scalps for a few ticks or so, may make alot money this way and comfortable this way.
you are correct with this statement. Just blindly take a profit because there is one there, have cost me in the past.