With short term trading, it's absolutely essential to let your...

With short term trading, it's absolutely essential to let your winners run.

The reason for this is found in "money management", aka position sizing, or bet sizing etc.

If you are like most traders, your number of correct calls will be somewhere between 40-50% over the long term. I know some who make 60-70% - that's EXTREMELY hard to achieve (a little bit easier if you hold for a few days/weeks). Have a look at your stats.

If your winners are approximately as big as your losers in $ terms...you're done - even at 50% hit rate (unless you have free brokerage).

If you're not sure about this, run your stats through Market System Analyser or some other similar position sizing software.