I think you cap yourself with a maximum number of trades per day. A lot of traders make the majority of their money on a relatively few days. If the market it running strongly and giving lots of good set ups, you've got to step up and capitalize. It's what you need to even out all the losers and wash days and give you a good average gain. Another good trading rule is to hit hard when things are working and pullback when they're not. If you are getting good trade setups, but not taking them because you've reached your magic number, I think you're making a mistake. Shutting down early when you're having a bad day and nothing is working is a good idea though. Once you have been mentally beat up, it's hard to keep from making more bad trades and compounding the losses. Corey
At some point in every traders career, one throws out every statement he can find and says I never want to relive that period again!
Aphie, Every couple of years when I'm on the verge of bankruptcy, I purge those evil statements, I don't want to remember how much i had, and how quickly it all went.
I swing for the fences bro. Making money on 5k is like hitting in spring training when you've got the team made. Trading the same size per $ when you've got several hundred thou on the line is like Game Seven. Market turns against you, and sometimes you can't lift the bat off your shoulder.
Pabst, If I get to the point where I have that problem, I will be sure to bring out my best rookies. You are right -- losing a few hundred on a bad trade is one thing -- but losing a few thousand? Ewwww .... or worse, ten's of thousands -- YIKES. Maybe I should stick to a normal job. aphie