So you made $25 while risking $13105? Are you crazy?? if that is all you got - you need to trade forex - at least you can make way more while risking WAAAAYYY less!
That's probably why 'No true professional sets price targets'....,maybe because he waits when/until the market gives him the opportunity to ride winners..'Profits from the whole day (week/month/year) can come from one trade.'
That happens a lot to me too, I buy in when I feel the sale has ended or when I think someone is buying like crazy, what happens quite often is the sale didn't stop it just took a break of 1, 2 minutes, or the buy seems to have ended at the moment I entered, so the price gets down and I start getting cold sweats. Sometimes it goes quite down and I sell at a loss, but most of the times I just start selling after break-even making 1 or 2 cents out of it, before it skyrockets... The problem is I'm evaluated also by my W/L ratio which I think distorts the whole thing so I have pressure to have more winning trades then losing altought deep inside I think that that doesn't matter, what counts is Positive Expected Value. But the thing of closing as soon as break-even is reached kind of pisses me off. What also happens is I buy at the end of a up movement and it just stays there for hours and doubts start rising so I sell at a small profit of that narrow negotiation range a few hours later, before it breaks the range upward... I don't know if that makes me angry or sad, maybe both.
Technically yes, but would the SPY lose its value in a day? This position was meant to be a week-long hold but for some reason I just went ahead and I sold it that day later for a $25 profit. I've been working more to hold positions on the ES. Have been aiming now for 4-8 tick ES profit.