Some traders impose a maximum daily loss, and I suppose there is someone out there who quits while he's ahead, but I'm thinking a better way to go is to have a set maximum number of trades per day (or week if you swing) Every trader is different, for me, it seems 7 is about right. So, if the first 5 are losers and I hit max daily loss, it would be better just to go on as always and make the final 2 trades. Same with a big winner right off the bat. What good does it do you long term to take the rest of the day off? But primarily, I am thinking in terms of commission cost. With a set number of trades each day, if your size is constant your daily commission will already be factored in from the start. I understand the psychological reasons for a maximum daily loss, but for me I think my mental health would be more stable if I have at least one other stable factor in my trading. This way, I know from the start I am going to make 7 trades (if the opportunity presents itself) and no more, and I know what my maximum commission cost for the day will be. Or maybe this is just another way my mind continually tries to screw up my natural intuition. Maybe I don't need any rules.