BIG TIP OF THE DAY:
If you want to ride up winners, lock in profits and reduce losers here is what to do.
1. Place your Entry Stop loss and Take profit
(But have a TP 2 and TP 3 in place).
2. When the price approaches TP 1
(Close half of your position and move your stop loss to Breakeven)
3. When the price hits TP 2
(Close half of your position and move your stop loss half-way)
4. When the price hits TP 3
(Close your entire position).
This is how to ride your profits and winners.
If you want to ride up winners, lock in profits and reduce losers here is what to do.
1. Place your Entry Stop loss and Take profit
(But have a TP 2 and TP 3 in place).
2. When the price approaches TP 1
(Close half of your position and move your stop loss to Breakeven)
3. When the price hits TP 2
(Close half of your position and move your stop loss half-way)
4. When the price hits TP 3
(Close your entire position).
This is how to ride your profits and winners.
✅ Facebook:
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
✅ Facebook:
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.