Quick question DB. Have you booked any profit from this short? Also do you re-evaluate the R/R during the trade? ie Your target prices always seem to be a fixed amount say 10pnts. When you are 7 or 8 pnts up is it worth risking the whole 7 or 8 points for the additional 2 or 3? Even if it moves the extra 2 or 3 pnts and you lose out, this is a loss you can always afford to make!
As the markets tend to move in waves, would a smaller target which may be able to be taken more frequently be worth considering?
That way you could take more points than the actual market move and /or you will lock in profits rather than seeing the market erode your profits back to zero or a loss if the trend moves and "waves" the other way.
The other potential option is to place two trades, close one for a small profit and let the other "ride" to your target level or to ride the trend you have indentified. If the market trends or waves back you could place another trade for another potential small profit if your analysis remains unchanged.
Personally I like to bank the profits (in volatile, difficult to predict markets) and then place a new deal when the market provides me with another attractive price. This means i am less exposed.
I was wondering how many times you call a good play and dont bank the profit compared to how many times you (and maybe alot of us) are successful in holding out for that larger play?
If your target is 20 pnts you have the whole day to nibble at profits from developed trends rather than trying to pick the golden moment and take the golden shot?
It seems to me that there are many ways to succeed but we need to remember timing in our calculations.
Difficult i know as longer trends take time to develop but having said that taking more frequent profit in smaller chunks will allow you time to wait for "the" move and you can always buy in quickly if you feel the move is on.
Just some thoughts! As much for your feedback and viewpoint (and others) as for helping you at the same time!
Happy trading fella!
