Buy a dip in an established intraday or end-of-day up trend, or sell a rally in an established downtrend, according to a clear set of rules. Make this strategy of riding the trend work by having a combined stop loss/price target exit method.

• The initial profit target should be some times the size of the initial stop loss, and must average at least 2 times the size of the initial stop.
• Move the stop tighter when reasonably possible as the trade progresses, as a function of time and/or price movement.
• Move the stop to protect a small gain when a market shows a profit equal to one times the initial stop risk.
• Profit targets are still preferable to trailing stops. At least for an entry method, which will re enter on a counter trend move again.
• It is better to enter trades in times of lower volatility where a volatility expansion toward the mean can work to your advantage if the trend resumes, and also afford the opportunity for more modest size initial stops.
• The percentage of winning trades is less important then the average gain of the winners versus loss of the losers