As for exit in mind there is no hard rules. There really is no point in setting a hard profit target because I can't control that number. I can get out with profit for any reason like- this too much money too quickly or if I just feel like ringing cash register or I can hold for months etc. Every trade is unique I judge by its characteristic and what point the market is at. For a loss though I have an amount I will tolerate to lose even if the trade is still valid with intention to re-enter. In this case a first loss is only temporary surrender like a lion giving up chase only to hunt again and devour the prey later in the night when its dozing.
When I say no hard rules - it doesn't mean I'm operating in a chaotic environment. For example - because I trade multiple markets it would be silly to have a hard rule that says don't lose $800 or something stupid like no trade after 3 losses or take profits after $500. Read again what I wrote - every trade is unique its judged by its own merits not precedent. I may wish to risk even $1000 on certain trade to make it work but only willing to risk $200 on another - the average result is my losses remain small. Same for profits I may bang in $300 on one trade and $3000 on another trade. Keep that mind every trade is unique no one size fits all here.
Most will never graduate to What you say here, If I know anything I can bet that you see the biggest swings in your account but you are a SUCCESSFUL trader. You ENJOY trading unlike others who Trade SCARED. Finally...on ET. JP