Trade Management

barjon

Legendary member
10,705 1,809
Thought I'd stick up a stylised version of what I get up to with my main equity trading (scales a bit iffy, so excuse that).

Although the basic set-up is mechanical in nature (apologies toastie et al :)) the decisions are discretionary on price action at the time. You may wonder why the order book and T&S doesn't feature - just because I can't interpret it, despite many years of trying!!

jon
 

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pssonice

Established member
900 12
your Trade Management on EURUSD

please explain your management rightnow on EURUSD
 

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barjon

Legendary member
10,705 1,809
Re: your Trade Management on EURUSD

please explain your management rightnow on EURUSD

Hi - yes I was out bidding 6 Hearts at the time (went one off :LOL:)

Firstly, I trade equities off eod (prefer the reality of opened and closed books) with the assumed swing low bar (the long red in your pic, ugh) my reference bar, with an assumption of a test of previous high from where the retracement began. Don't take trades unless there's at least 1.5:1 potential in it.So I wouldn't be touching your pic even if it was eod (it's M5 isn't it?)

However, if you forced me into a long from the point you say then the same management would apply.

1. I would be looking for an entry in the yellow zone via a lower time frame to see some upward momentum or lack of desire for south. No "signals" here, just a judgement call.

2. After entry I'd watch action on the lower TF if it retreated into the purple stoploss zone. If it had zoomed into it with some momentum I wouldn't hang about too long, otherwise it's the mirror image of the entry judgment with the bottom of the zone the line in the sand where I'd go come what may.

3. If all went well and price goes into the blue target zone it's the same sort of thing. If it zooms in with good momentum I'll give it some time to see if it's going to break through - if it does I move a hard stop up to half way in the zone. If it staggers in I'll generally take the best I can get. The line in the sand is the bottom of the range and I'll go if it comes back out come what may.
 

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