Thought I would share the 2 most successful money monagement techniques I've used on a daily basis.
Once I define an setup and entry I enter using one of the following 2 methods.
Thirds Technique; (the exact targets is variable depending on your market)
Entry with a stop at -20 pts... Sell 1/3 at 1st target of +5 and move stop to Entry -10. Sell 1/3 at 2nd target of +10 and move Entry to BreakEven. Last 3rd is Discretionary and a "free trade"
Quarters Technique; (I use with higher lot/contracts sizes that make me a bit nervous)
Entry with a stop at -20 pts... Sell 1/2 at 1st target of +5 and move stop to Entry -10. Sell 1/4 at 2nd target of +10 and move Entry to BreakEven. Last quarter is Discretionary and a "free trade"
Once I define an setup and entry I enter using one of the following 2 methods.
Thirds Technique; (the exact targets is variable depending on your market)
Entry with a stop at -20 pts... Sell 1/3 at 1st target of +5 and move stop to Entry -10. Sell 1/3 at 2nd target of +10 and move Entry to BreakEven. Last 3rd is Discretionary and a "free trade"
Quarters Technique; (I use with higher lot/contracts sizes that make me a bit nervous)
Entry with a stop at -20 pts... Sell 1/2 at 1st target of +5 and move stop to Entry -10. Sell 1/4 at 2nd target of +10 and move Entry to BreakEven. Last quarter is Discretionary and a "free trade"