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came here to tell you exactly that. in days like today, you don't need to let the profits run - atleast you can try for 2R or 3R or so.

to make 7 figures?

OP, You are delusional. Please get a job, get married and have kids. Your idea of a perfect world does not exist. You seem too innocent and don't know what you are asking for. If trading is an easy way to get rich and you think you have a system you can trade, then ask yourself if you...

I agree that the exit strategy doesn't matter as long as you can trade your system profitably. Still here are some of the issues that I have with exiting using a constant R:R ratio. Focusing on your R:R ratio will take you focus away from what is really happening in the market and what the...

Air traffic control is the worlds most stressful job.

don't mean to sound rude but you will not get a trading job anywhere just because you don't have any other job and you think you can trade end of discussion. what you can do instead is start small trading and prove yourself that you can make a consistent profit trading. be ready to blow up...

reading order flow is pretty useless. it is hard to devise a trading plan just based on order flow. it is too much information to process in very little time when the market is moving fast. it probably helps for micro scalping. a large positive bed ask delta doesn't mean huge selling...

bar after bar ask yourself - is this a trending market or range bound or volatile market? if not trending then dont' use the strategy that makes you money on trending days.

This post nails it. thanks. One advantage of sitting on your hands and let the price run is, you take fewer trades so less risk/trade and less commissions/slippages etc. End of the day when you plot your trades on the chart it is much cleaner.

amit - any reason why you have fixed point targets? why not let your profits run if the trade is going your way. I dont know if this type of entry/exit will take you account balance far.

I just loved prices mysteriously moving up and down. I'd look at a chart and say if I had bought here and sold there I'd have made $x profit. It seemed that this is the best way to make a living and everyone else who had a day job were losers. Then started trading any stock that would flash...

you need an algorithm for vwap? its free on most charting platforms - ninja trader has it or you can get acme vwap basic for free. mean reversals work as long as there is no trend.

to join 9 dots in a 3 x 3 matrix, you can do it with a X and a + :)

wonder how he was as a trader :D

I'd usually stay away just before any fed announcement. I happened to be short SPY and so made a quick buck. This sort of crap happens even on regular days. How many times have you seen the market fall below the day's low one last time before charging up?

mind listing the other 9? :D

Damn didn't know all winners are riding models.. should have started trading while I was 8.

tangentShot Did you follow your trading plan to a reasonable degree? Doesn't matter if your plan is crappy. I followed a mostly useless trading plan for a while just as an exercise to follow it - It didn't make any money. I was just making my broker rich. Once I got the discipline to...

I'd say most are barely surviving or profitable. Losers will not bother spending time here.

I have a feeling this thread will end up in the hall of fame section :D :D :D