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aamzalag

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Hey so i am a pretty new Trader, trying to trade professionally mainly using momentum intra day trades. Ive got lots of eduation under my belt, but the toughest thing im finding, is that my trades tend to go in the direction i want, but i find my self not taking profits because the trade never hits my target, and eventually the trade just swings back and hits my stop. Does anyone here have any recommendations on how to avoid having that happen anymore? Any profit taking techniques that work for you?


Also, ive only been trading continuation for the most part. Im having a heard time really finding good reversal points... any pointers or indicators that some of you use that you would be content sharing?

Thanks, any help is welcome. Also id love book recommendations from any1 who has any.

Adam
 
Well the first thing that strikes me is that you maybe should think about why your trade never hits the target, maybe it does long term but you just close out prematurely. Ever thought about scaling out?
 
One trading strategy may work for one traders but not sure that it will work for all. I use stop loss, set my profit lever as pips not currency, stop trading if my target fulfill.
 
I am trading individual stocks in the US markets. I believe i have been setting normal goals, based upon the patterns traded, as well as intra day support and resistance of the securities. Does any1 have any tips on how to set more realistic goals? or things that have worked for you?
 
aamzalag said:
I am trading individual stocks in the US markets. I believe i have been setting normal goals, based upon the patterns traded, as well as intra day support and resistance of the securities. Does any1 have any tips on how to set more realistic goals? or things that have worked for you?
Click to expand...

It either hasn't been hitting your targets because of a christmas, new year, bank holiday whatever lull, or because your targets are not realistic.

Now, if it is just because of the time of year - and that's possible - then you should be able to notice it by a drop in volatility/average true range etc. And then it's not really something to be too concerned about, although you should rein in your targets a bit while that is the case.

If it isn't because of that, then the market is telling you your targets are not correct. It can't be any clearer than what anley posted above.

Your stops and targets don't need to be fixed, and there is no need to be stubborn if it's falling short of your target and indicating it won't get there.
 
aamzalag said:
Hey so i am a pretty new Trader, trying to trade professionally mainly using momentum intra day trades. Ive got lots of eduation under my belt, but the toughest thing im finding, is that my trades tend to go in the direction i want, but i find my self not taking profits because the trade never hits my target, and eventually the trade just swings back and hits my stop. Does anyone here have any recommendations on how to avoid having that happen anymore? Any profit taking techniques that work for you?


Also, ive only been trading continuation for the most part. Im having a heard time really finding good reversal points... any pointers or indicators that some of you use that you would be content sharing?

Thanks, any help is welcome. Also id love book recommendations from any1 who has any.

Adam
Click to expand...

Hey Adam

its all been said here already.............adapt adapt adapt ;)

N
 
Move your stops up manually or use a trailing stop ??

Better to pick up 20-30 pips than let your original S/L be hit....

Others may not agree with my style but I get that S/L up to level at the very earliest opportunity and when thats the Dax or FTSE thats when the trade goes +15...
 
jungerns said:
Move your stops up manually or use a trailing stop ??

Better to pick up 20-30 pips than let your original S/L be hit....

Others may not agree with my style but I get that S/L up to level at the very earliest opportunity and when thats the Dax or FTSE thats when the trade goes +15...
Click to expand...

How much is a pip worth in the stock that he is trading?

Peer
 
He said stocks so I'll go ahead and assume a point is equal to 1 dollar.
 
addisioneagle said:
I give some information provide here first of all Trading is a one type of exchange the money form the one person to another person.Trade is also called commerce or financial transaction. Its all called a market. Tread is working online purchase and also its a selling the tread.
Click to expand...

This is wonderful news. (y)(y)

Peter
 
I have an idea that might work for you

for example:

your strategy dictates not to stay longer than 30 minutes in a trade
use the ATR (average true range) to tell you the average range in the past 30 minutes
if you'r looking at a 5min set the period to 6
take what the ATR is telling you to take or some percentage of it
 
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