Scared trading...

Discussion in 'Trading' started by focusonmoney, Dec 2, 2009.

  1. If your stop is 3 ticks then what is your profit target?
     
    #31     Dec 3, 2009
  2. Some just act more quickly than others and thrive on the hectic pace. Others thrill to the strategy and approach.
     
    #32     Dec 3, 2009
  3. I prefer to think in terms of profit potential, not target. I neither hold doggedly waiting for it to be achieved nor exit promptly if it is. That said, typically eight to sixteen ticks.
     
    #33     Dec 3, 2009
  4. xburbx

    xburbx

    what makes you exit on a bad trade?
     
    #34     Dec 3, 2009
  5. I don't think of any trade as bad, so long as I take my predetermined stop loss. They are all instructive. They all lead to a better understanding of the elusive quality of persistence, which is the only thing which distinguishes a nascent move from a fully mature one, since all moves start out looking alike. If you are defining a bad trade as one which fails to reach the expected next level of support or resistance after entry, then I exit that trade when it is clear from dawdling of price that it ain't going where I expected it to as fast as I expected it to. If anything is bad in that case, it is my analysis and judgement, because price, like a woman you want to screw, is always right.
     
    #35     Dec 4, 2009