9/30/11 Trade Results: $605 Profit- Picking market direction, not "perfect price".

Looking at this chart, you see that if I did not have "realistic" targets for my trades, I would be stopped out every time because of the swings in the market. You want to have targets that are realistic, not shooting for the moon on every trade. I promise you, you will be giving up a lot of unrealized profits, and the number 1 goal of trading is to make money. Secure the profits, don't be greedy!

Here is the way that the day played out for me:

I had a short bias due to buyer failure. I took the BOT Short.

 Then, I added to the position with a break of the low of the day. I left my default targets at 10 points, while adjusting my risk to a +risk, worst case scenario, I still make a small profit instead of taking a loss.

Met both of the 10 point targets. Then took the short TL trade and met target on that at 10.25 points, having 1 tick positive slippage.

 With the slippage, it ended at $605 for the day, not $600.