5 FREE odds enhancers:
Question: How do you determine your stop loss (SL), take profit (TP) and entry for a trade?
Answer: My gosh this question was asked 5x by people. Fist of all RARELY the SL, TP and ENTRY placement is the reason to why you are not a profitable trader. In my course the section on SL, TP and entry placement is the shortest segment because it's the easiest to understand and rarely do I receive questions about it in my group.
Stop loss: There are 2 kinds of SL we use in this methodology 1) structural SL and 2) volatility based SL.
1) A structural SL is based on previous structure of the market typically above or below swing highs or swing lows and/or above or below the next supply or demand zone.
2) A volatility SL is based on the current volatility using the (ATR indacator) to help us determine how many pips we should place above or below our distal line.
Targets: Targets are the easiest because it's very rules based depending on the trader. How I personally take profits is getting out on my entry timeframes (TF) first opposing supply or demand zone usually at 1.5:1 or 2:1 R:R then i will hold my second position and place my second target on my +1 TF above my entry TF depending on the type of trade I take.
Entry: Super easy, simply place your buy/sell order at the proximal line of your entry TF supply or demand zone.
Risk Management video:
If you have any questions supply and demand zones or suggest any pairs to trade forex/stocks/futures..any market i can create a video and highlight any daily or swing trading.
Content herein contains forward-looking statements regarding future events that involve risk and uncertainties. You are cautioned that these forward-looking statements are only predictions and may differ materially from actual events or results. Content herein is for information purposes and is not a solicitation to buy or sell any of the securities mentioned.
Thanks for watching =)!
Cheers- Austin
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