Quote from konviction:
I always know my stop and target before pulling the trigger...I thought this was what MOST traders did also, no?.
Most traders do not make a career of trading. They run out of money.
You seem to be part of the herd from your posts so you think like most people. Most people who are trading are learning failure by practicing failing.
Most traders have two sets of emotions, as they point out in posts. You do too. Being on the sidelines is the common place for most traders. Tyhe tendency is to quit in the late am and stay sidelined for the rest of the day or to just revenge trade after the am.
Why would anyone take a trade and not have their stop or target known before hand?.
I never use stops or have targets. You are asking why rhetorically. Too bad for you.
If I dont know my stops, I cant take a trade because the distance of my stop from my entry determines my size.
Also about your r/r..I mostly agree with what your saying, because I too prefer to have a small stop compared to profit potential, but what if you came across a system able to make 280 dollars 60%-70% of the time, and losing 300 30-40%?.. you still come out ahead in the end.
