How Much is Enough?

A long time ago, I posted in the forums a question: "How much is enough?"

I was referring to pips. It seemed I got many different views, and in the end it came back to one of the first mantra I read "Know thyself".

I was in a trade at the start of the global financial crisis, when all the CB cut interest rates at the same time at the start of the NY session. My trade was up 3pips, and I 'thought' this should go more. So I held, and then all of a sudden, I was down 60pips in 1 tick. CB cut interest rates. It took me 2 more ticks to get over the shock, and cut the trade, but that was abt 100pips later. 3hrs later, eu was 100pips below where my initial trade was!! Moral of the story for me - enter, take ur pips and exit asap.

There are many limitations to the time I can devote to trading. As such, I have price levels I will wait for, coupled with the overbought/over red/green signal. And if I get just 1 trade for 2-3pips so be it.

These days, I take small amt of pips and let it work out in $$.