AUDJPY Mar 12 H4 Trade Management using risk R and R-Multiples risk is initial Stop Loss using previous 2 bars/candles high, do your trade Position Size. price move to TP1 level, you decide if you want to lock ... moved initial SL to BE+ and get a free trade. {image} your next trading task is: Wait and see if price move further lower. If it moves to TP2 level, I would move to trailing SL to TP1 level and lock in 1R profit.
AUDJPY Mar 12 H4 Trade Management R-Multiple
As we approach NY Open soon, and as the price is near our TP2 level, we can already move our trailing SL to TP1 level and lock-in 1R profit.
If your initial risk R is $500, then +1R will make you $500.
or
you can take profit +2R $1,000 at TP2 level and walk away.
The various markets are going through stress test now, hence trading in times like this, we need to remain calm and focus on our trading tasks, follow our own trading rules and manage our trades. Pick only the best setups like what the OP Big E has taught us.
Trade Well and Trade Safe.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
the UK will be great again! The fun would be in the next 11 months - Feb to Dec 2020, with lots of trading opportunities to make money. Have you done your trading plans for EURUSD, GBNPUSD and EURGBP? Be prepared for the PERFECT STORM. {image}
