After having just read this entire topic IMHO I think this is the best post.
"You know the saying "Sell in May and stay away", well with trading indices we can still trade throughout the summer months albeit with reduced daily target levels.
Basically from September to May I aim for 20% per day and in the summer months drop down to 12.5% per day. OK, in reality not every day is a target day. Some days I only hit 10% and other days 6% but there are other days that I hit my targets and shut her down and go do something else. I try to maintain a business like approach when trading. Keep the losses small and let your winners run, when your targets are hit STOP! go do something else. Different traders have different targets, could be 4% & 2%.
Whatever your daily target is, once met, get out and don't go back in. No good giving back to the market what took you all day to get in the first place.
What I look for when trading is where is the 2nd Dot, Perimeter Dot and triangle? Once the 2nd Dot has been made then we can expect change in the Direction. Watch the different TFs... in the enclosed screenshot you can see the 15min, 5min and yes, the 1min TFs. You want to see the Road map play out from the perspective of the 2nd Dot. Once a 2nd Dot appears do not jump in, instead WAIT for price to cross your trend or signal line before jumping in. In smaller TFs price will play out with more smaller cycles which will seem as if price is ranging then all of a sudden we get a breakout and price plays out the higher TF's.
This type of pattern repeats all the time, you just need to watch it play out in the different TFs again and again. That is why I always go for the visual setup so I can see the moves play out off the 2nd Dot, the 2nd PerDot, the 2nd Square. The play off the 2nd Dot is a self similar fractal that repeats on all TFs.
The 2nd Dot is used to confirm that the new Square is no longer repainting and that a change is now taking place.
Gann said that there is nothing new under the sun, everything repeats given time, even this post is a repeat of what I have said throughout this thread.
"If you only knew the magnificence of the 3, 6 and 9, then you would have the key to the universe" Nikola Tesla