Quote from bltrading:
I know when I make a trade, I always have and EST. I agree with not changing your EST during the trade for a couple of reasons. If you change your target or your stop during the trade for whatever reason. What will stop you from doing it next time? This leads to undisciplined trading......
RAMOUTAR SAYS...I agree
I have found in the 2 of the last few trades I've made, that when the stock started heading towards my stop, I felt that it was going to hit it and I would get taken out. I wanted to get out bad, but I didn't - and yes, I lost more when it hit my predetermined stop. I learned from it though... My entry was bad and undisciplined. I was afraid I was going to miss out. I've figured out from my trading over the last 2 months that when a stock starts heading towards my stop, it gets taken out. It happens right after I make the trade. Same is true when I am right on a stock. I'm now working harder to only take trades that are really close to the support I'm using. (I am a support/resistance guy) That way I can actually raise my P:L ratio by taking smaller losses. That is how my next few trades will go anyways.....
RAMOUTAR SAYS...By going long very close to support you are putting in VERY tight stops.
RAMOTEUR - Do you ever use a EST, that you ride. Meaning, do you sell half your position at the target and let it ride. Or do you always stick to exiting the whole position?
RAMOUTAR SAYS... No on full exposure trades, and yes on scaled trades (see below)
Just curious... My belief is that a stock that is going up, will continue to go up. Vice/versa with shorting. What do you think? I don't do this on every trade, just some of the one's I feel really good about. If you do, do you set another target for the half or go by feel? I have been going by feel on the half I ride. Now, of course I don't take a loss on it, I just use a trailing stop that I adjust. Like I said I'm support/resistance trader, so I try to get stocks that I think will actually break through resistance. Those are the ones I ride half on.
RAMOUTAR SAYS....I don't like trading on feel, I know that it's done nothing else but getme into trouble. I go with the EST and feeling I have before I entered, everything else in between is noise. I stick with EST, and don't allow myself to be in that situation. I save feel for the casino, I don't have anything else there. 
Thanks, good read......
See my replies to your post (in the quote above), starting with "RAMOUTAR SAYS". I have also enclosed (below) a scaling strategy for a swing that I'm in now. You'll see what I mean when I adjust not EST, but add E, and adjust ST, feel free to refer to the QCOM daily when looking over the journal.
QCOM (scaling swing trade journal)
ST=short term (profits taken on failed patterns)
LT=longer term (profits taken at target on continuing patterns)
6/18/03
Bot 500 @ 34.70, stop at 34.10 ($ .60 risk) next entry 35.90 (or a target if pattern fails, $1.20 reward) LT target $38.72
risk= .60, reward = 1.20
I will use ST target if pattern fails. If pattern continues I will continue to average up and use LT target.
6/19
Bot 500 @ 36.50, new average price = $35.60 stop at $35.08 ( .52 loss) new ST target & LT target are the same, $38.72
risk= .52, reward = 3.12
7/2
Bot 500 @ 37.08, new average price = $36.09
raise stop to $35.24 (.85 loss) ST and LT target reduced to $38.18 (re-evaluated supply on daily)
risk = .85, reward = 2.09
7/3
I raised stop to $36.58 for 1,500 shares , target still at $38.18 will pick up last 500 at $37.90 if stock trades higher and takes out highs from 6/19. 7/1 and 7/2
On Monday, if I buy last 500 shares at $37.90 my avg cost will be $36.545. My stop will be raised to $37.15.
On 2,000 shares, if stopped, I get $1,220, if target is reached $3,280.
If stock doesnât trade above the three highs, Iâll hold at 1,500 shares and my average cost is $36.09 and stick with $36.58 stop a $735 profit.
This is one of my swing trades. I provided to you as an example. NO FEAR here, I've planned for the worst. PM me with more question if you need blt! Happy4th.
