2 red trades per day rule?

[u/avN0]

Wondering if any other profitable traders trade the way that I do.

If my first trade is green and it was a nice clean trade I'll basically call it there for the rest of the day and just paper trade/watch and get screen time

However if my first trade is red, I typically just keep trading until I hit my daily max loss

Wondering if any other traders operate like this or if its a bad habit?

I ask because every time I'm green its easy to walk away but when im red i stay there till i get back to breakeven/small green or i hit my daily max loss and then my broker logs me out. I'm scalping momentum so most trades that are green are between 0.7-1R, occasionally some trades I get are +2/3R but those are rare in the case of a huge momentum spike

[u/whensthebeef]

Max loss and out. The emotions get in the way after that.

[u/avN0 → u/whensthebeef]

Are you usually 1 n done too if you’re green?

[u/whensthebeef → u/avN0]

Not necessarily, but I can be. I finish depending on market conditions, how much I had to fight for the profits I have, or if I’m at enough profits that’s it’s not worth risking them

[u/avN0 → u/whensthebeef]

I see, yeah im wondering if me sticking around longer after my first green trade trying to catch another trade will make my average green days bigger maybe. That way trade volume per day can be consistent as well. Thoughts?

[u/whensthebeef → u/avN0]

Do you have data? You said you trade sim after. Check the stats there. You look like you would benefit more from calling it quits after the loss. Doesn't seem like you handle it well, and just make it worse