Intro to Stop Losses and Taking Profits
When we enter any trade, we have two basic goals: 1. Obtain the maximum amount of profit 2. Protect ourselves from losses It starts from the beginning . Look for the most profitable opportunities in
Trading Strategy
Stop Losses
In my experience, and as I have discussed in other articles, I tend to focus more on what can go wrong rather than what can go right when it comes to taking a trade. Because
Taking Profits
In order to set a reasonable profit target, we need to know the following about our trade: 1. Is it a countertrend trade and against market sentiment? 2. Is it in the direction of the
Example: EUR/USD Long 1.2655-1.2640 – Nov. 6, 2008
There are 2 big levels here: 1.2655 (bottom of 1hr bucket) 1.2640 (intersection of diagonal trendline) I went long at 1.2656 just in case 1.2640 didnt get hit. Because they were so close together, only
Trading Breakouts
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60 Trade Examples
Reading is one thing, but pictures are worth 10x what I write sometimes. At the expense of sounding like a cheap advertiser, there are literally tens of thousands of pips in these examples alone, compiled
Basic Math Behind Making the Most of Your Trades
Ok its time for some math….a little reward check and why patience pays off. First off, I looked at the current track performance, using a +150 pip take profit and 5 contracts as a benchmark.
Trade Planning and Mental Maintenance
Daily Planning My day always begins with me opening my charts and doing a basic analysis of possible market turning points. My most highly probable levels get a limit order placed on them, which I
Reality Realization and Trader Reactions to Market Forces
As we are all well aware and logic dictates, the positions of smaller traders comprise an very small percentage of the total trading population. As individuals working for ourselves, we have to recognize what the
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