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While price is stalling, as a newbie, wanting to share my view on trade management, which is, the most overused words in trading for most are using it without proper context to its purpose.
"Trade Management" is often mistaken for "The Art of Justifying a Bad Trade."
Contrary to popular belief, "trade management" is not the phrase you use right before you turn a 1R loss into a 5R catastrophe.
It is not the mystical art of moving your stop-loss every time price gets near it.
And it is certainly not "hoping" while your drawdown reaches new, exciting depths.
Attached is a chart for the visually inclined.
My simple, three-step process:
Take Profits: Occasionally, remove some money from the table. A novel concept, I know.
Pyramid Wisely: Add to a position only when it's making you money.
Adding to a loser is called "digging," and we're traders, not archaeologists.
(Karen)
Do the Math: The goal is to end the day in green.
Shocking, right?
So please, let's use the term correctly.
It's not a magic spell to make your bad trade good.
It's what you do to make your good trade great.
You're welcome.
I'm Newbie
I come from the future.
Karen X Mas Bonus 2025 All Time Profit:
$15,104
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