Been pondering a thought which I think would be interesting to discuss in this forum, not particularly XJO related but trading related so thought this thread would be the place to post.
I have been trading full time for a little while now, and am starting to question my method. What I am referring to is scalping vs longer term trades (longer term being hours :P). At the moment I aim to get a good entry whether it be on the index or forex or shares, then when possible I move stop to break even and just wait for a profit target which is usually achieved over many hours. However looking back over my trades a reoccurring issue is that my trades are often in profit (I dont take it because profit target is not hit) and then the trades slowly slips back to breakeven and gets me stopped out. The good thing is one profitable trade makes up for about 5 trades like this. But today I thought why not take money thats on the table, so I just jumped in and out for 10 or so pips each trade, I enjoyed it and like the idea of being a nifty machine like 'Bourne' from 'bourne identity' of the trading arena :D but I dont really know if this method is going to be more profitable in the longer term and am just wondering if any traders have gone through a similar process or tried both methods and discovered which one is more profitable and worked best for them. The weakness I see with scalping is that you will miss out on the big moves, whereas holding you will capture... good trading guys!
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