how shall I close my orders?

[cf0532]

i am sorry but this sounds as a absolute baloney

market does not care about trader's expectations or goals

exit (same as the entry) therefore should based on market situation assessed through the prism of the method, not on what profit was expected

i do not believe one would be able to trade 30-day based on profit expectations, not even talking about 30 years

thanks for your participation;
yes, just as you said "market does not care about trader's expectations or goals" and what is more most time we can't confirm where market will touch; it is usefull for us I think that we set a goal, because it can let us out from the uncertain market;
Trading involves some skills and alse ourselves, so it is meaningfull to close orders / stop profit accroding to top 10 tradings of many years(which show your best tradings and your common trading some time will exceed them but not often).
Of course if we can understand market well most of time and can confirm where it is going on and where is the end; that is perfect but very difficult I think.

 

[qxr1011]

what is more most time we can't confirm where market will touch

you do not need to confirm that

it is usefull for us I think that we set a goal, because it can let us out from the uncertain market;

what goal?

the poster to whom i responded indicated that this goal should be certain amount of profit, which is in relation 4 to 1 with anticipated loss... this is incorrect

the goal of any trader is to enter the trend when it starts and to exit it when it ends

that's it !

you may ask then how to determine where the trend starts, and where it ends , and what is the definition of the trend, and how to follow it (manage the trade)..

well, those are the answers you have to find yourself

but at least you will be looking for right answers to the right questions

 

[Stymie]

I'm sure there's more than one way to achieve the end game. For me, it's making money to spend on other things. I would rather be lucky than smart. I don't need to know whether the trend is going up or down next when I'm up a lot of money. And there was a time when I used to ask those questions only to watch the market and profits get away from me. I'm open to other ideas on making money - just haven't heard of any yet that seem realistic relative to real trading and my goal of making money.

 

[ironchef]

the goal of any trader is to enter the trend when it starts and to exit it when it ends

that's it !

you may ask then how to determine where the trend starts, and where it ends , and what is the definition of the trend, and how to follow it (manage the trade)..

well, those are the answers you have to find yourself

but at least you will be looking for right answers to the right questions

I like your idea but.

I tried but was not very good at spotting any trends consistently. To me it is almost as futile as saying just "buy low and sell high".

You have any suggestions, books, websites I can read up on it?

Thanks.

 

[qxr1011]

I tried but was not very good at spotting any trends consistently. To me it is almost as futile as saying just "buy low and sell high".

its a few steps further than buy low sell high

because correct definition of the trend not only allow to enter and exit the trade correctly , but also to manage the trade

you have any suggestions, books, websites I can read up on it?

nothing that i can recommend

one can start with classical technical analysis, but will have to be able to develop on his own much further upon that

 

[Stymie]

I like your idea but.

I tried but was not very good at spotting any trends consistently. To me it is almost as futile as saying just "buy low and sell high".

You have any suggestions, books, websites I can read up on it?

Thanks.

By definition, swing trading defines trends using historical data. When it's time to execute a trade you don't get to trade on historical prices. I agree with you, it's the same as buy low sell high. You won't know whether you got it right until there is enough Historical data after the trade. Monday morning quarterback!