stop trading when up for the day ?????

H

hitman4gk

i would like to kinow what some of you do when you make a quick 500 or 1000 before 10:00..Do you walk away with the quick profit or just trade until the market closes? i beleieve that most of the easy money is always made the first hour of trading..thats when the swings are biggest due to the emotional nature of traders at the open...
 
Quote from hitman4gk:

i would like to kinow what some of you do when you make a quick 500 or 1000 before 10:00..Do you walk away with the quick profit or just trade until the market closes? i beleieve that most of the easy money is always made the first hour of trading..thats when the swings are biggest due to the emotional nature of traders at the open...
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Depends on style, discipline, etc.

I trade all day, even pre and post market at times. If you trade solely momentum, then usually the greatest momentum is in the time period you speak of as well as at the end of the day.

If you trade many different styles, then there may be opportunities all day long.
 
Quote from hitman4gk:

i would like to kinow what some of you do when you make a quick 500 or 1000 before 10:00..Do you walk away with the quick profit or just trade until the market closes? i beleieve that most of the easy money is always made the first hour of trading..thats when the swings are biggest due to the emotional nature of traders at the open...
More...

if your ultimate trading goal is to make $500 per day, by all means... quit trading.
 
Quote from hitman4gk:

i would like to kinow what some of you do when you make a quick 500 or 1000 before 10:00..Do you walk away with the quick profit or just trade until the market closes? i beleieve that most of the easy money is always made the first hour of trading..thats when the swings are biggest due to the emotional nature of traders at the open...
More...

It's simple.

If your stats show that you tend to lose money after the first hour of trading...

Stop trading after the first hour of trading.

:cool:

Mark
 
sigh...

Does the market know your goals?

however I agree with NihabaAshi...but that is another thing..

trading your edge...may have its times...

also I personally get physically tired scalping at high velocity for over one hour...but this again, is another story...
 
if it's at or around your daily goal, that's debatable..I mean wouldn't hurt to at least stick around until lunchtime or so to maybe snag another opportunity or 2...unless you're pretty tired then I'd be going back to bed nice and happy :D

If you're playing a bit lower and it's well above things for the day, take an early day and enjoy :)
 
Quote from hitman4gk:

i would like to kinow what some of you do when you make a quick 500 or 1000 before 10:00..Do you walk away with the quick profit or just trade until the market closes? i beleieve that most of the easy money is always made the first hour of trading..thats when the swings are biggest due to the emotional nature of traders at the open...
More...

Now that I know myself alittle better.....i will stop for the day! Because I know i'll give it back if i don't.

Your mileage might vary though - maybe keep a trade log and look back to see how you do.
 
Quote from hitman4gk:

i would like to kinow what some of you do when you make a quick 500 or 1000 before 10:00..Do you walk away with the quick profit or just trade until the market closes? i beleieve that most of the easy money is always made the first hour of trading..thats when the swings are biggest due to the emotional nature of traders at the open...
More...

apply trailing stop for daily profits.
 
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