- Joined
- 12 November 2007
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Hey all,
After some advice and tips on risk management, stuff like moving stops to B/E as soon as possible, what exactly does that mean? Do you have a set amount of ticks that is has to be before you move your stop to B/E or just literally move it there as SOON as it goes in your favour? Like for instance if I'm trading something with some volatility like Crude Oil, HSI, Dax, it doesn't make much sense to move my stop to B/E unless I have a decent area for it to move still, so there's not much point moving it there when I get 5 ticks in profit, 10 ticks even, that's nothing for those markets, I assume you would get stopped at B/E a LOT?
Then how to re-enter, just jump straight back in or wait for another whole setup to match whatever criteria you desire? Also I am thinking of places to take profit, but I gather you wouldn't really need anywhere to get out, because if you just trail the stop, say at a tick above/below the previous candle's high/low then in theory you should catch all the nice trending moves and not get chopped to death when it's going sideways because of stop to B/E, that's if you have the move-stop-to-B/E set at just the right time.
Just thought it'd be more interesting to have some discussion and trades that are more focused on the risk/trade management rather than how and why you entered or exited.
After some advice and tips on risk management, stuff like moving stops to B/E as soon as possible, what exactly does that mean? Do you have a set amount of ticks that is has to be before you move your stop to B/E or just literally move it there as SOON as it goes in your favour? Like for instance if I'm trading something with some volatility like Crude Oil, HSI, Dax, it doesn't make much sense to move my stop to B/E unless I have a decent area for it to move still, so there's not much point moving it there when I get 5 ticks in profit, 10 ticks even, that's nothing for those markets, I assume you would get stopped at B/E a LOT?
Then how to re-enter, just jump straight back in or wait for another whole setup to match whatever criteria you desire? Also I am thinking of places to take profit, but I gather you wouldn't really need anywhere to get out, because if you just trail the stop, say at a tick above/below the previous candle's high/low then in theory you should catch all the nice trending moves and not get chopped to death when it's going sideways because of stop to B/E, that's if you have the move-stop-to-B/E set at just the right time.
Just thought it'd be more interesting to have some discussion and trades that are more focused on the risk/trade management rather than how and why you entered or exited.