Well, I’ve had a frustrating week. No opportunity to trade until Friday, and no opportunity to work on my website and newsletter service. NOT HAPPY!!! But then, that happens to us all from time to time. Life has a habit of failing to consult with us, prior to messing with our plans. What happened? Well,…
Candlestick Patterns – Doji
One of the common email questions I get through my website relates to difficulties in sticking with stop losses. Some traders don’t place one in the market at all, promising that they’ll get out when price hits a certain level. Of course, when price gets to that level there’s no shortage of reasons why they…
I once heard a statement by Rebecca Fine of www.scienceofgettingrich.net that says something along the lines of “If what you’re thinking about isn’t something that you want to have happen in the next three minutes… get rid of the thought and think something else.” While that’s a great way to live your whole life, and…
Candlestick Patterns – Inverted Hammer
If you’d prefer to read The Importance of Exit Strategy, see the article series here: https://yourtradingcoach.com/trading-process-and-strategy/the-importance-of-exit-strategy-part-1/ https://yourtradingcoach.com/trading-process-and-strategy/the-importance-of-exit-strategy-part-2/ https://yourtradingcoach.com/trading-process-and-strategy/the-importance-of-exit-strategy-part-3/ Or in one PDF download here: https://yourtradingcoach.com/ebooks/ Otherwise… enjoy the videos…
Welcome back. Based on the information we discussed in parts 1 and 2 of this series; let’s now discuss my personal approach to exit management for short-term intraday trades. The best way to do this is to first consider, what is my goal from trading, how do my chosen markets move, and what psychological needs…
In part one of this article, we considered a few questions: Should we use a tight stop loss to cut any losses quickly, or a wide stop loss to allow some room to move? How quickly should we move the stop loss to breakeven? Should we take profits at a target, or should we let…
I was chatting to another trader this morning about exits, and thought it might be time to share my understanding of ‘the basics’ of exit strategy and exit management. It really is an area of trading that gets very little attention compared to the other end of the trade – the entry. Go into any…
