Dislikedhey scooter, it is tradestation. every bar stands on its own if that answers you question. i usually set my stop right above or below the two bars. i dont like to lose a lot of money, if it breaks the two bars its usually over. profit targets have to be user defined. i trade with enough so that just a small move will make me several hundred dollars sometimes thousands depending on the set up. i cannot say this strongly enough, never let a winner become a loser. winning three hundred and getting out only to watch it go to 3 thousand bothers me much less than watching my 300 profit turn into a 300 loss because i did not lock it in. thats just me we are all different. i take half profit then move my stop to breakeven for the other half. winning is a rush, losing sucks. if a trade goes south on me i can live with it, i cant live with watching a winner go to a loser because i did not use my brain. doing that keeps me up at night. and yes i still do it from time to time.Ignored
You lose money many days, but every day there is a point where you have increased your account by at least 10%. What is the lesson here?
It is not about money management, but disclipline and personal psychology. Success breeds overconfidence. Knowing when to hold-em and when to fold-em is not as easy as it sounds.