This is a “ take the money and run “ market

[rb7]

You should have a logical basis to decide on what to do.
This example is based on fictitious figures.
If you have a 8 points profit it is not bad to get out if the market is not very trending. Only 5% of the profitable trades reach 8 points. 95% of the profitable trades never reached this level.
I would base my decision on the (hypothetical) table below. But only in non trending markets.

View attachment 309523

Good point, but the thing is, we never know when the market will switch from choppy to trendy. Days are not all choppy or trendy. A day might be choppy in the morning and trendy in the afternoon. So if you stop after a win in a morning choppy market, you might miss the trendy market in the afternoon.
I saw many days when the market go from one type to another.

 

[virtusa]

we never know when the market will switch from choppy to trendy.

You should be able to see that in your system.
If you drive a car you start in first gear, then second gear and so on.

First gear in trading is a small timeframe, second gear is a bigger timeframe and so on.
You should know when to go to the next timeframe and what to do in case of contradiction between two consecutive timeframes.
So you start and will see if the market is trending or not depending on which timeframes you got to. The advantage is that you always have a good entry and you will see while in a position if the market is choppy or not.

 

[s trader]

Take the money and run today to give back unother day but at least one can feel good at the moment.

 

[destriero]

This is a take the money and run market ! As soon as you make a decent trade, walk away. If you dont, the risk is much higher ( in this market) that you give the money and them some back to the market.
When you choose the one or two stocks that you think will move to a certain price point and you get a good fill, be realistic with you sell point and if it happens, walk away. The chances of making one decent trade in this market is tough, why push it? When you hear someone talk about “ trading discipline”, thats what it means.
I did it today with NRG . It was a bank america upgrade and i methodically bought the gap up.

bot thread.

 

[Overnight]

bot thread.

We know IV is not a bot, because no bot would bother making so many "inner city thug" posts. There's no point for a bot to do that.

 

[Innervoice]

bot thread.

Give me an effin break.

 

[Overnight]

Give me an effin break.

*Sings*

Gimme a BREAK!
GiM-MIE a break!
Gimmie a break of that Kit-Kat bar!

--------------

It's a trading thread, so cannot post the commercial, even though it is relevant. How was my singing?

 

[destriero]

bot thread.

You made 40 cents on NRG and lost $3 on sht elsewhere. You're trying to reconcile failure bc a win is a win? It'd be comical if it wasn't so transparent. Apply yourself, FFS!

 

[SimpleMeLike]

Simple,

but aren't you perma long SnP ?

Hello Nobert

I simply

1. Dollar Cost Average SP 500 Index forever.
2. Take money from the ES EVERYDAY

 

[maxinger]