How to Let Your Winning Trades Run: Got ideas?

[notagain]

Channel range, ATR Trailing Stop

 

[taowave]

Just out of curiosity,how many of you run backtests/walk towards with varying stops/targets?

 

[deaddog]

Why not take some off at a target and trail the rest?

It doesn't sound like he has a target. I'm not sure he has a well thought out plan for each trade, seems more like a seat of the pants trader.

 

[JSOP]

How to Let Your Winning Trades Run: Got ideas?

-Don't close them.

 

[gaussian]

Go to >trademastery.com< and join Ken Calhoun's Trade the Open chat room for only $7, watch the video courses he has produced and attend his "Trading Week Ahead" webnars. The guy has award winning articles each month in TASC and is a Moneyshow speaker. Someone with his depth of experience and knowledge will surely be able to help you out.

This post was incredible thank you.

 

[KCalhoun]

We all have things we can improve in, myself included. Thanks all for some outstanding ideas -- much appreciated.

 

[tiddlywinks]

It doesn't sound like he has a target. I'm not sure he has a well thought out plan for each trade, seems more like a seat of the pants trader.

I tend to agree, BUT, comparing to myself...

I don't use preset targets UNLESS I am scalping, in which case, it (the target) is what it is, whatever it is.

So perhaps it is not so much related to a trade plan, but rather the type of trade expected at time of entry. Or the inability to differentiate the type of trade.

For non-scalp (intraday swing, megauber-scalp, standard trade, whatever you want to call them), IF I have a target it is usually far away. That is to say... at the time of entry, the perfect trade based on my then analysis. Stops are simpler... There is always some form of activity that "should not occur" based on current analysis. If the "should not occur" activity occurs, analysis is wrong and move on.

It is that "should not occur" mindset that "allows", and many times prevents, premature exit.

 

[expiated]

Any tips for letting winners run, especially for swing trading?

When I trade stocks, I enter when an asset is structured such that I expect it to rise. Under such circumstances, I'm looking for a profit of anywhere from 5% to 12%. (But, I don't know if this qualifies as a run in anyone's eyes.)

I remain in the trade until and unless price pulls back by 1% or more over one or more days, at which point I either pocket my gains or cut my losses short. This works for me when using this particular approach, but it's something I've simply made up, so I'm not recommending it... just sharing what I do.

(I would think that when to exit would depend on the percentage that a given trader has decided constitutes a likely reversal in sentiment.)

 

[deaddog]

I tend to agree, BUT, comparing to myself...

I don't use preset targets UNLESS I am scalping, in which case, it (the target) is what it is, whatever it is.

So perhaps it is not so much related to a trade plan, but rather the type of trade expected at time of entry. Or the inability to differentiate the type of trade.

I don't pre-set a target. ( I don't day trade)

I do have a plan with specific criteria of when I will exit a trade. When that criteria is met I'm out. There is no wondering what I should do. The trade is over and what happens afterward is something I have no control over. I can only control what I do not what the market does.

No sellers remorse, no woulda, shoulda, coulda; It is one trade out of many and if I followed my plan it was a successful trade.

 

[tiddlywinks]

I don't pre-set a target. ( I don't day trade)

I do have a plan with specific criteria of when I will exit a trade. When that criteria is met I'm out. There is no wondering what I should do. The trade is over and what happens afterward is something I have no control over. I can only control what I do not what the market does.

No sellers remorse, no woulda, shoulda, coulda; It is one trade out of many and if I followed my plan it was a successful trade.