Lets consider to scenarios.

1. 5 lots scale out at three targets. Lets say they are 2x10, 2x20 and 1x40. Assuming we are talking crude oil here at $10 per tick that works out to $1000 before commissions

2. 5 lots all in all out at 10 ticks. This equals $1000

The advantage to #1 is that you have one trade therefore one set of commissions. Another one is that you cover your risk fairly soon and that takes the stress off of managing the trade out from there.

The down side is this, you need this runner to run out 40 ticks before it equals scenario #2

In my mind, the only upside is less commissions. While that is a valid consideration, the question is, how often will you get 40+ ticks on your trade? A given is that you will see 2-3 large moves each day on CL. Do you as a trader want to sit all day long waiting for them? If so, then the scale out works better if you will hold every trade looking for larger moves.

If you would rather take some decent profit during a set trading period of say 2 hours, then its possible to capture a larger move or be content with several ten tick trades if they present themselves.

Of course, there is another consideration and that is news. I personally don't trade 5 mins prior to the news. This means you would perhaps have to exit prior to a trade being finished or perhaps not entering a trade at all depending on when it set up.

Shorter term profit targets solves several problems for me. 1. the news issue, 2. my desired trading hours, and three, my personality in that I have trouble holding for longer moves and through pull backs.

The way I see it, if you trade all day, larger moves are the way to go, anything less than that, smaller targets. Maybe not my ten ticks but anything between 10 and 50 with a trader taking profits at logical points.

Its not perfect yet, but its where I am at....and at least for now, seems to be working.

OK, I see what you are saying. But this is what I would consider...Whats the risk? If your hard stop is 10 ticks, if the conditions are right, then 1 is the better trade. If you hit your targets on 1, total is 20+40+40 ticks = 100 ticks. if it moves 20, you still have 80 ticks. Of course, where to set the stops comes with experience and feel for the market on that particular day.

Hit your target on 2, its 50 ticks.

If its 10 and no more all day every day, its 2.

Booth trades are valid. The key is identifying when. Why not where both hats? Some long, some scalp.

If you can learn one way, you can learn another. But I do agree, that for your bread and butter, you have to dance with the one you brought.

had a rough morning ....got puched around a bit.

-30 ticks...What can I say but I dont really want to talk about it.

Going to regroup, review my trades in detail and look forward to tommorrows session.

well, after yesterdays debacle, took a tranq, watched Iron Chef, had a brewski...and medidated on my wrong headedness.

today I was determined to do better.

Partial success, was on the right side of the rally on the cl from 8:30 to 9:30. Got my target hits 3 times in row...one after the other, for a total of 49 ticks. However, this begs a question. Are my targets too small? What is a realistic prercentage to capture of a move, while keeping a close eye on downside risk.To capture bigger moves, one has to be willing to use a wider stop. how wide is too wide? 1:1,1: 1.5, 1:2, 1:5?

After the daily high of 100.29, wasnt very efficient on the shorts, as I didnt expect a big breakdown of price.

+57 on the day, primarily from the large move from 9:00 am and peaked at 101.29. Had a flash that blew through my stop later in the session that blasted me for 22 ticks. Those program trades. Not happy when that happens. Hasnt happened for a while.