Hi Everybody,
I know this is more of an “advanced post”, but berceuse I get asked this questions a lot, I thought I would post it here. The question i, how to manage a trade “if” you are “against” or you feel “unsure” of the larger degree trend.
Well, as I teach, when you are either “against” or you feel “unsure” of the larger degree trend then you should be more aggressive with managing your trade. For example using the 100% initial risk guideline. This is good as it gets your stop to “break-even” quicker so you are protected, while still allowing a little “wiggle room” for the trade to go your way.
A good example was this DP sell on the 3mion Dax from this morning. The larger degree trend was not clear, so moving the stop to break-even as soon as the short reached the 100% initial risk level was a good idea. This level was not hit and the short (in this example) went onto reach the first target where +4.8R Profit (ignoring slippage and commission) was available. Yes banking profit earlier is also a good idea when the larger degree tend is unsure
Thanks, and I hope this helps ?
Steve
I know this is more of an “advanced post”, but berceuse I get asked this questions a lot, I thought I would post it here. The question i, how to manage a trade “if” you are “against” or you feel “unsure” of the larger degree trend.
Well, as I teach, when you are either “against” or you feel “unsure” of the larger degree trend then you should be more aggressive with managing your trade. For example using the 100% initial risk guideline. This is good as it gets your stop to “break-even” quicker so you are protected, while still allowing a little “wiggle room” for the trade to go your way.
A good example was this DP sell on the 3mion Dax from this morning. The larger degree trend was not clear, so moving the stop to break-even as soon as the short reached the 100% initial risk level was a good idea. This level was not hit and the short (in this example) went onto reach the first target where +4.8R Profit (ignoring slippage and commission) was available. Yes banking profit earlier is also a good idea when the larger degree tend is unsure
Thanks, and I hope this helps ?
Steve
Posts
