Presentation is loading. Please wait.

Presentation is loading. Please wait.

Trade Management 1. Once in a position a. Adjustments -stops (positive movement) -target (positive movement) Entry Initial Stop Placement (Predetermined)

Similar presentations


Presentation on theme: "Trade Management 1. Once in a position a. Adjustments -stops (positive movement) -target (positive movement) Entry Initial Stop Placement (Predetermined)"— Presentation transcript:

1 Trade Management 1. Once in a position a. Adjustments -stops (positive movement) -target (positive movement) Entry Initial Stop Placement (Predetermined) Initial Target Placement (Predetermined ) Emotions Expectation of what is going to happen Time

2 Trade Management 1. Once in a position a. Adjustments -stops (positive movement) -target (positive movement) Entry Initial Stop Placement (Predetermined) Initial Target Placement (Predetermined) Emotions Unfortunate event #1 Solution: 1. Have a predetermined point to adjust stop up. - Adjust @ 20 pip moves - Auto trailing - Adjust @ MA - Adjust @ # Candles - Adjust to Support +100 pips

3 Trade Management 1. Once in a position a. Adjustments -stops (positive movement) -target (positive movement) Entry Initial Stop Placement (Predetermined) Initial Target Placement (Predetermined) Emotions Do we need a time stop? Unfortunate event #2 Solution: 1. Set time to be done 2. Cut our winner 3. Look for other setup 4. Adjust stops

4 Trade Management 1. Once in a position a. Adjustments -stops (positive movement) -target (positive movement) Entry Initial Stop Placement (Predetermined) Initial Target Placement (Predetermined) Emotions Unfortunate event #3 Solutions: a. Close 1/2, 1/3, ¾ b. Move stop up c. Adjusting stop d. Evaluate current target placement

5 There are no certainties in this investment world, and where there is no certainties, you should begin by understanding yourself. James L. Fraser What do we need as a trader: 1. System, Method, Rules, Strategy........... (Important) a. Self learn it b. Find one c. Buy one 2. Know who we are (Critical) a. Time frame b. Schedule c. Current trading knowledge d. Trading Mindset

6 I. What is needed in a system? (Consistent, repeatable results) A. Rules - Risk Management Rules a. Single trade risk (1% max.) -Position size b. Portfolio risk (5-10% max.) c. Trade risk (Max. number of trades) d. Max # losses e. Max loss per day f. When not to trade (mindset, news, market....) - Entry Rules a. Identify Trend b. Identify Support/Resistance c. Indicators aligning d. What defines the trigger e. Specify R:R ratio - Exit Rules a. Stop loss b. Targets (single or multiple) c. Trailing stops d. When to adjust - Contingency Rules

7 Our Trading Mindset 1. Emotions (Human) - CONTROL! Need: Confidence in our System – tested and traded Leads to Discipline in following our system which leads us to become successful and profitable traders. a. Fear - of security (wars,natural disaster) - losing money - news - market never going to recover - losing out b. Greed -”Greed is Good” Gordon Gekko - Take inappropriate risks c. Over trading d. Hope


Download ppt "Trade Management 1. Once in a position a. Adjustments -stops (positive movement) -target (positive movement) Entry Initial Stop Placement (Predetermined)"

Similar presentations


Ads by Google