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When you get triggered on day 1, are you happy to let it all automate? i.e. let you stop/limit take you out without looking at the charts again?
Posted by Charlie Trader on 30 March 2018 06:49 PM

You have to manage your trade, profits, and losses, according to the trade plan.

This means that you revisit every open position or order on a daily basis. 

First profit can often be automated by means of a limit order, it depends on your broker platform, but when that happens you need to adjust your initial stop-loss to the new balance of the holding (if that is not automated), and the new stop-loss level to near break even (allowing for relevant Support/Resistance/Highs/Lows) to become a dynamic trailing stop.

You also need to check daily for any new danger signals that may influence your trading plan.


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