This'll be interesting...
The Real Deal Is Here
- Thread starter Shagi
- Start date
As for exit in mind there is no hard rules.
There really is no point in setting a hard profit target because I can't control that number. I can get out with profit for any reason like- this too much money too quickly or if I just feel like ringing cash register or I can hold for months etc. Every trade is unique I judge by its characteristic and what point the market is at.
For a loss though I have an amount I will tolerate to lose even if the trade is still valid with intention to re-enter. In this case a first loss is only temporary surrender like a lion giving up chase only to hunt again and devour the prey later in the night when its dozing.
There really is no point in setting a hard profit target because I can't control that number. I can get out with profit for any reason like- this too much money too quickly or if I just feel like ringing cash register or I can hold for months etc. Every trade is unique I judge by its characteristic and what point the market is at.
For a loss though I have an amount I will tolerate to lose even if the trade is still valid with intention to re-enter. In this case a first loss is only temporary surrender like a lion giving up chase only to hunt again and devour the prey later in the night when its dozing.
I'd be long too.I'm a follower. Looking forward to this thread.
Chart posted, entry indicated.
What else is necessary? He is doing fine!
What else is necessary? He is doing fine!
So nebulous entry, no hard rules for exit. My prediction, you going to blow up.
When I say no hard rules - it doesn't mean I'm operating in a chaotic environment. For example - because I trade multiple markets it would be silly to have a hard rule that says don't lose $800 or something stupid like no trade after 3 losses or take profits after $500.
Read again what I wrote - every trade is unique its judged by its own merits not precedent.
I may wish to risk even $1000 on certain trade to make it work but only willing to risk $200 on another - the average result is my losses remain small. Same for profits I may bang in $300 on one trade and $3000 on another trade. Keep that mind every trade is unique no one size fits all here.
Read again what I wrote - every trade is unique its judged by its own merits not precedent.
I may wish to risk even $1000 on certain trade to make it work but only willing to risk $200 on another - the average result is my losses remain small. Same for profits I may bang in $300 on one trade and $3000 on another trade. Keep that mind every trade is unique no one size fits all here.
