Resist the slave mind!
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| Should You Only Trade With The Trend as a Beginner |
When you start trading for the first time, it is very tempting to take every trade that comes your way. It is much better, however, when you are just learning how to trade to only ever trade with the trend. Continue reading “Should You Only Trade With The Trend as a Beginner”
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| Where to place your take profit |
Ok, you see a nice trade opportunity. And you know where to place your stop loss. Now, how about the take profit order? Where do you place it?
In this post, I will show you my approach to setting my initial take profit levels.
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| Where to put your stop loss |
So I talked about “What is R in Trading” and why it is so important to understand. I hope I made clear that R lets you focus on and manage Risks by always setting a stop-loss order to take you out of a position automatically if things turn against you. Now, after writing that I was thinking: Where would I place my stop loss? How do I do it? And can I explain how I usually place my stop-loss orders? Interested in knowing how I do it? I will give it a shot and do my best to explain it to you.
The most basic rule I use for placing a stop-loss order on my trades is this:
I want to be taken out of the trade automatically when the market shows me that my initial idea or reason for entering the trade, is no longer valid. Continue reading “Where to Put Your Stop Loss”
