[wsam29]

I was about to start a thread before I saw this one.

It's also a "Through Process" that I do before each trade.

first trade of day

see a set up

inital thought, "Am I willing to lose if I enter this trade?" if yes, enter trade, if no, sit on hands. stop loss and profit targets already known before hand.

first trade out of the way:

if trade turns out to be a loser.

second trade set-up

Initial thought, "Am I willing to dig myself into a deeper hole if I lose?" if yes, enter trade, if no, sit on hands of call it a day.

if trade turns out to be a winner.

second trade set-up

Initial thought "Am I willing to give back my profits if I lose?" if yes, enter trade, if no, sit on hands or call it a day.

As you can see its a loop of the same thought before each potential trade.

I don't have a profit target in terms of ticks because I found that is all I focus on at the start of the day, your emotions and state of alertness plays a big part in your day to day trading, so if you'r not feeling up for it, just don't trade or continue to trade for the sake of trading. Nothing is worse then trying to hit your profit target if you are not 100% mentally there. There is a good chance yuo'll dig yourself into a deeper hole.

See if this helps with your trading.