Big wins are where the big money is. As long as we have people who think otherwise, I (and others) will continue to be very very successful, including brokerage firms who are the big beneficiaries of overactive trading. Successful trading is boring. It's best to be bored when trading.
People who dont set targets are buy and hold investors. Is that you?. The point in using targets is so you have a goal, but also some kind of mm (money management) in place. If you dont set a target, then how do you know how much risk to take on a trade?.. you dont know, because you dont have a risk reward ratio. If I'm looking for 10pts, I'd only risk 3.3pts.
I will bring this back up because it is the ONLY thing that a good Trader is focused upon. I suppose by their very natures, Traders or either Position, Swing or near Scalpers/ Scalpers and therefore it is most important to realise who you are and then stay with it. Dont try another style just because it seems more sexy. Therefore any conversation about who and what iare correct and who and what iare wrong is a direct reflection upon the Poster, not the subject. I could demonstrate very simply that rapid big lot trading on something like the ES RTH morning session will provide the best ROI. But it is better that individuals work this out for themselves if they are sufficiently interested. If this style of trading suits you best, then naturally your mind will stray towards targets and limits to best take advantage of price thrusts. If position trading is your bag and you think big, then your surplus brokerage account balance against that of a near scalper will need to be in the order of the cash price of a rental property or two, or three. In the end it will all come down to what style suits you best and a clear understanding of this may help reduce the number of broad sweeping assertions that make ET both famous and entertaining.
4900 posts and you think the essence of trading is letting your winners run... LOL ET is such a.......... non rewarding experience anymore. Essence.... LOL ...indeed even... I am losing it here.
I knew the essence of successful trading before I made the very first post. Trading is very very simple. Most participants try to make it very difficult.
Here's the other part of the deal-- While a trader is glued to his/her screen attempting to make 3 times the daily range, I am out living my life. Quite possibly, I am getting three times the daily range of life.
You are woobling off course again B1S2. The question is "What is the point in using targets?" Given the way in which you describe trading, then your answer is 'none' Why do you not just say so and move on.
Targets are probably good for the intraday trader. Those folks should still let their trades run to the full target. As for the wobbling off course, I was responding to someone else's post.