Before you enter a trade, write down three numbers
1) entry
2) target
3) stop
Without this, it is gambling.
Set profit targets on Intermediate + 1 chart and stops on your Intermediate chart.
If day trading, use 25 min chart as intermediate for target and 5 minute chart for stops.
One of the popular stop techniques is to use ATR
1) entry
2) target
3) stop
Without this, it is gambling.
Set profit targets on Intermediate + 1 chart and stops on your Intermediate chart.
If day trading, use 25 min chart as intermediate for target and 5 minute chart for stops.
One of the popular stop techniques is to use ATR
No comments:
Post a Comment