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Attachments: How to manage running trades
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How to manage running trades

  • Post #1
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  • First Post: Edited 10:57pm Sep 19, 2024 7:28pm | Edited 10:57pm
I'm cataloging trade management techniques. So you've received a great entry signal from your strategy and entered a trade, so what now? The focus will be on manual trading for now, experts come later!

Consider using one or more of the following:

1. Dynamic Trailing Stop- Move your stop loss to a predefined distance (e.g., ATR or fixed pips) behind the current market price as it moves in your favour.

2. Break-Even Stop Loss- Move stop loss to break-even when the trade reaches a certain profit level.

3. Partial Profit Taking- Close a portion of the position when a certain profit level is reached.

4. Time-Based Exit- Close the trade after a specific duration if it hasn't hit your targets.

5. News Event Management- Automatically close trades before major news events.

6. Reversal Signal Exit- Use a specific indicator (e.g., RSI) to exit if a reversal signal occurs.

7. Adjust Take Profit Based on ATR- Adjust your take-profit level based on the Average True Range (ATR) for volatility.

Have I missed any?
Quoting Zennie
So you've received an entry signal and entered a trade, so what now? Consider using one or more of the following: 1. Dynamic Trailing Stop- Move your stop loss to a predefined distance (e.g., ATR or fixed pips) behind the current market price as it moves in your favour. 2. Break-Even Stop Loss- Move stop loss to break-even when the trade reaches a certain profit level. 3. Partial Profit Taking- Close a portion of the position when a certain profit level is reached. 4. Time-Based Exit- Close the trade after a specific duration if it hasn't hit your...
You can consider using an expert advisor to do some of your trade management tasks.


Trading Made Simple Expert Advisor EA for Trade Management

Download the trade manager EA and pdf description by Caveman: < here >

Both the EA and pdf description are in that post linked.



...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting Zennie
So you've received an entry signal and entered a trade, so what now? The focus will be on manual trading for now, experts come later! Consider using one or more of the following: 1. Dynamic Trailing Stop- Move your stop loss to a predefined distance (e.g., ATR or fixed pips) behind the current market price as it moves in your favour. 2. Break-Even Stop Loss- Move stop loss to break-even when the trade reaches a certain profit level. 3. Partial Profit Taking- Close a portion of the position when a certain profit level is reached. 4. Time-Based Exit-...
How to manage running trades?
then the answer is apply several close options

but if the question is, How to manage orders according to signals?
the answer will be more complex and numerous,
because it includes open orders, closed orders, open again, etc., depending on each trading style
and the answers that emerge can be the beginning of a trading style

"The right questions will produce the right answers"

This is an example the answer for :How to manage orders according to signals?
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What does those bubbles mean? Partial position closing by some algorithm? Is there any EA that does it for you?
Quoting pizd0s
What does those bubbles mean? Partial position closing by some algorithm? Is there any EA that does it for you?

just blindly shoot ... empty vessel can make a lot of noise,


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...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting emmanuel7788
{quote} just blindly shoot ... empty vessel can make a lot of noise, https://youtu.be/cA3PeFjAGKQ ...
emmanuel7788, no blindly shoot
maybe.........only :
signal edit photoshop
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History order edit photoshop
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Quoting pizd0s
What does those bubbles mean? Partial position closing by some algorithm? Is there any EA that does it for you?
Not partial close but close order normally as lot size 100%

Partial close some order? it's Right
Quoting Zennie
I'm cataloging trade management techniques. So you've received a great entry signal from your strategy and entered a trade, so what now? The focus will be on manual trading for now, experts come later! Consider using one or more of the following: 1. Dynamic Trailing Stop- Move your stop loss to a predefined distance (e.g., ATR or fixed pips) behind the current market price as it moves in your favour. 2. Break-Even Stop Loss- Move stop loss to break-even when the trade reaches a certain profit level. 3. Partial Profit Taking- Close a portion of the...
Thank you for sharing. How about Zone exit? Exit the position according to support/resistance zone on the higher timeframe.
It depends on the context, there are cases where stop loss and take profit are more than enough and adding one of these elements can degrade performance.
Nature cannot be cheated - Richard Feynman
Quoting Zennie
I'm cataloging trade management techniques. So you've rece..... Have I missed any?
yes. turning equity against your losing positions for bad/wrong fill in at zerosum result. Process not so easy but to the key of a good positions managing. It need a perfect sizeing and a decent capital. At least the capability to reverse x10 the size of the negative running positions. A powerful scalp at the right time and you have closed the wrong operation without losing money.
here a recent one example.
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chaos is just unknown order
Many traders start using recovery with martingale etc or simply wait for it to turn in their favor when they trade without SL and going for small amount of pips, this can work few times but if you make this a habit it will lead to disaster in long run, so I do not recommend anything than closing it, it might be hard emotionally at the beginning but you will get used to it and your account will appreciate it
  • Post #12
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  • Last Post: Oct 19, 2024 9:20pm Oct 19, 2024 9:20pm
Hi. I want the name of gold traders like Ben, Gary and GTMO
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