I'm not really a beginner because I began over 2 years and probably 3000 screen hours ago. During that time Ive looked at a lot of methods, instruments and timeframes. In the last 6 months I have managed to achieve significant profitability on Forex (1 hour timeframe) and I continue to research and sim trade futures index methods on lower timeframes. Bit by bit I believe the important messages are getting to the right part of my brain.
I am interested in peoples approach to managing a trade once you are in the market - I don't care if you are a fundamentals phd, a TA master, an astrologer, a fish slapper or a coin tosser but how do you manage your trades once you are in? I think at the end of the day trade management and understanding probabilties will make you or break you.
I have tried 'all in then scale out' for a while and found it didnt work well for me over a series of trades. I have therefore moved to all in, all out and this is suiting me a lot better. With my single validated and proven method ( I know, it is perhaps not a lot to show for all my work) I have a roughly 50% win rate with my average win nearly twice my average loss over a set of 100 trades by my rules. This has me feeling good about my approach. But - what do others do, why do you do it and how long has it taken you to get to what you are using now??