Chasing my tail today, scrambled to re-enter a few positions which I had bailed earlier this week. No great damage from missed profits, however very annoying that I had stops set at realistic distance back from price action and in a moment of emotional trading, I closed out perfectly good trades.
My current method of trading is as follows.
Once a chart is selected for entry using Volume Spread Analysis
Position size is determined by setting a maximum loss, (currently at 0.5% of account value)
determine 3x or 2x the ATR then divide the max loss by the ATR multiple = #shares to buy.
Before placing the order check that a target at least 2x the max risk is realistic.
Place the order, immediately set a stop once order is filled.
Place text and visual marks on chart to help manage the trade.
Include/// Date of entry// Entry price// Initial stop// Target// ATR #

Each potential trade must have the calcs listed in the workbook and a brief note in the diary on reasons for entry before the end of the day's session