Received 2 Karmas
Nighthawk6058
1
Nighthawk6058 Dec 28, 17 5:24 PM

Very helpful information and reminder to always have a plan in place before the trade. Love the examples as well

YawnAlot
1
YawnAlot Jan 05, 18 3:11 AM

Good stuff man, i like the having a plan before you enter a trade, most importantly is having a stop loss and knowing how much ur risking at that stop. So thats one of the first things i do. Draw out support/res. And find the percent diff between my entry and my stop. Then i choose how much money im willing to lose at that stop. So the equation is "Risk '$' diveded by risk percent. That will give you how much money you can enter that trade with to lose that amount at that percent.

TradeSmall
TradeSmall Jan 05, 18 7:41 AM

Thank you for your tip. I agree 100%. Once risk is figured out along with the support level, it's very easy to get out of a trade without having to think too much

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