A 70k bet that I can't make a 50% gain in 2009

Quote from geez:

Here is a little tid bit for people to nibble on regarding sticking to your trading plan. Here are some results from today's trading and then ask yourself if you would have obeyed your trading rules (..mine set in stone):

*RIMM long went +.55 in my favor (tgt was .80)..stopped for .40 loss.
*FISV short went +.24 in my favor (tgt was .50)..stopped for .25 loss.
*AAPL long went +.52 in my favor (tgt was .60)..stopped b/e
*WLP long went +.29 in my favor (tgt was .30)..stopped just before EOD for +.14 gain.
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geez, for myself, I'd like to not set the target...for the reasons you mentioned above. However, a hard stop is a MUST. No ifs, buts, maybes or otherwise!

I would like to just move the stop once the trade goes in my favor. First to b/e, then to 1/2 of desired goal, then to 1/1 and keep moving it as the price moves in my favor.

If I'd get stopped out...so be it. At least the stop was there.
 
Quote from geez:

Here is a little tid bit for people to nibble on regarding sticking to your trading plan. Here are some results from today's trading and then ask yourself if you would have obeyed your trading rules (..mine set in stone):

*RIMM long went +.55 in my favor (tgt was .80)..stopped for .40 loss.
*FISV short went +.24 in my favor (tgt was .50)..stopped for .25 loss.
*AAPL long went +.52 in my favor (tgt was .60)..stopped b/e
*WLP long went +.29 in my favor (tgt was .30)..stopped just before EOD for +.14 gain.
More...

Do you follow this stop-or-target discipline because of psychological reasons (No second guessing, simple rules) or because you have concluded results expectations are better that way because you are not tempted to move the stop too tight?
 
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