stop trading when up for the day ?????

Discussion in 'Trading' started by hitman4gk, Feb 18, 2007.

  1. i would like to kinow what some of you do when you make a quick 500 or 1000 before 10:00..Do you walk away with the quick profit or just trade until the market closes? i beleieve that most of the easy money is always made the first hour of trading..thats when the swings are biggest due to the emotional nature of traders at the open...
     
  2. Casey30

    Casey30


    Depends on style, discipline, etc.

    I trade all day, even pre and post market at times. If you trade solely momentum, then usually the greatest momentum is in the time period you speak of as well as at the end of the day.

    If you trade many different styles, then there may be opportunities all day long.
     
  3. if your ultimate trading goal is to make $500 per day, by all means... quit trading.
     
  4. It's simple.

    If your stats show that you tend to lose money after the first hour of trading...

    Stop trading after the first hour of trading.

    :cool:

    Mark
     
  5. sigh...

    Does the market know your goals?

    however I agree with NihabaAshi...but that is another thing..

    trading your edge...may have its times...

    also I personally get physically tired scalping at high velocity for over one hour...but this again, is another story...
     
  6. zdreg

    zdreg

  7. MattF

    MattF

    if it's at or around your daily goal, that's debatable..I mean wouldn't hurt to at least stick around until lunchtime or so to maybe snag another opportunity or 2...unless you're pretty tired then I'd be going back to bed nice and happy :D

    If you're playing a bit lower and it's well above things for the day, take an early day and enjoy :)
     
  8. tef8

    tef8

    Now that I know myself alittle better.....i will stop for the day! Because I know i'll give it back if i don't.

    Your mileage might vary though - maybe keep a trade log and look back to see how you do.
     
  9. apply trailing stop for daily profits.