All language subtitles for TraderFXBichin 2000 - 6

criteria and without further
ado, I will see you over in the

breaking our risk management
strategy and what criteria are

this video a nice important
part of your trading strategy

of losing trades without taking
significant hits and without

technical approach, right? That
includes trade execution, the

is these trading processes
definitely need to be marked

we're in a position to make
sure we cut risk and maximize

strategy for winning and for
losing trades using some of

we going to follow when a trade
is winning to take off portions

include, trade management
processes, your entry and exit

when they go south, what
criteria we follow to get out

when risk grows okay there is
nothing saying that the

showing some real examples or a
real example of a trading plan

you have a huge catastrophic
loss on the go you know that is

criteria we're going to follow
to actually get out of trades

going to get hit at minus 50
pips and you remove your stop

write down some notes, some
ideas, things that you need to

our profitability using stop
loss and take profit

actual criteria it takes to
enter a position, trade

we're looking for a
step-by-step guide to our

reach the end of this chapter
we will then be talking and

these examples and some of
these pointers that we've

management, the processes that
we're going to follow when

what kind of things you need to
include and of course as we

breaking your exit strategy so
it's important in your plan

with a included, okay? So make
some notes, run back through,

losses further away or removing
stop losses entirely this is

mentioned here as well. So to
recap then, trading processes,

know that it's okay to take
losses a loss is fine as long

of profit and secure profits as
we go right so that's all for

down in your plan hopefully now
you've got some good ideas of

we have that pre planned and
then we begin moving stop

then that you mark down a
consistently followed exit

utilization and then trade
exits as well, okay? What

stop loss further away from
price or never remove your stop

we pre plan that percentage
that we can lose on a trade if

as we outweigh it with a winner
now losses are pre planned okay

closes up there with let's say
a bullish pin bar or a bullish

you can. So if a trade goes
south, it can actually be more

loss thinking that it's just
going to spike through and come

market's going to turn around
so let's say your stop loss is

back next thing you know trade
is running minus 200 pips and

is stop losses okay and with
your exit criteria it refers to

loss from any trade we've
spoken about risk reward we

to risk free, the movement at
break even is going to vary,

important aspect then the final
one I'm going to mention here

around and continue going in
your direction and fulfill

early exit if real trade
criteria is broken and you're

down to you removing your stop
loss and that is down to you

your plan to think logically
and make sure that you only

previously okay and at this
point we may then look to early

given a real reason to actually
escape the trade. So very

stop losses as well it's
important then never move your

exit okay so let's say we are
hundred pips into a movement to

60 pips and takes out some
structure highs okay and then

just sets their take profit to
risk that sets their stop loss

early exiting trades, you're
never going to reach your risk

targets. If you are a panic
trader and you're consistently

reward levels, right? So you
need to actually put this in

going to be an early exit
trader like this or someone who

logical to move your stop loss
to break even. The reason being

that there's always a chance
the market's going to turn

exit the trade take what
profits we do have left on the

able to avoid a loss, right?
Now, whether or not you're

okay? I do recommend trying to
hold the trade out as long as

that if structure gives way and
things begin to turn against

the downside and then we have a
bullish movement that goes up

early exits, something you may
think it I will only make an

if the four hour chart closes
with conflicting price action

the way out to those original
preset targets. An example is

really invalidates the price
action that we've seen

And that means early exits. So
while we do need to consider

stick to them right unless
there are criteria changes we

being logical and being able to
accept market changes, right?

actually going to have the
patience to hold the move all

to what I'm trying to trade we
could actually look to early

will aim to hold all of our
trades to all of our preset

profit levels we preset right
when we hit this level we're

inside bar if the four hour
chart closes like that that

But if things don't change,
things don't go south, you're

early exit if the trade
criteria is broken. This means

you, you're you're there ready
to make a logical early exit.

exit strategy now Another big
part of our exit strategy is

take profit levels and that is
going to be a big part of our

take the rest of our profits
preset these levels and then

now this is basically the same
again we preset those take

going to take half profits when
we hit this next level we'll

will aim to hold trades to all
of my preset take profit levels

means if a trade is running
you've got a big target in

those trade management things
that we just spoke about and

can secure profits on the way
down to my final target. This

right? How are you going to
take smaller losses and avoid

keep your stop loss to you know
to break even to cut risk? Are

you going to actually make
early trade exits if the trade

need to actually look at trade
exit criteria and the safe

manage profit taking, right?
Taking portions, taking full

you? Uh and then will you
actually hold your trade all

look to remove the risk from
the move by putting my stop

the way to your targets and
follow your risk reward

undoubtedly unless of course
your trade criteria is broken

and your trade becomes
dangerous so these are all

examples of trade management
ideas that you can put inside

stronger than bearish momentum.
So in a situation like this

that we don't want it to be
going right? If our trade is

will we then move the stop loss
to entry to me make sure that

large risk reward movements. So
it's important to include in

your stop loss to entry when
will you then progress to move

of profit at key levels at
logical areas when will you

then I will select more than
one take profit level so that I

your stop loss into profit when
will you begin to take portions

actually look to risk free the
movement based on structural

run let's say we are short and
our trade is run two structure

the entry point we are at risk
free and we're not going to

back to the upside that will
then tell us that structures

if the trade goes against us
and it goes all the way back to

begins to go south and move
against you to secure profits

place you can actually slowly
take profits off as we surpass

profits. How are you going to
manage a trade that turns

levels what this means is as
mentioned before if the trade

Breaking your risk management
strategy. So some examples here

reverses on you you've still
had a happy successful trade I

changed and bullish momentum
has reentered the market

right? Be it at a profit or a
loss. So some ideas here then

loss to entry. So let's say
your trade is running nicely.

movement and and retake one of
those structure points. Now

a profit and we can still be
happy with that trade So

actually losing how are you
going to exit those trades,

You've taken out two structure
points and target is on the

before things go bad? And on
the contrary when trades are

take a loss. Uh another thing
worth mentioning inside of your

way. But then we actually form
a sharp sharp reversal kind of

criteria is broken, okay? We've
spoken about the importance of

trading plan is hold
undoubtedly unless the trade

of your plan things to consider
okay when are you going to move

around on you? Will you exit
early? Or will you focus on

ways, the logical ways to
actually get out of trades,

when we have our entries and
our trade management down, we

when your trade is in profit,
how are you actually going to

strategy, right? Do you have
the discipline to do that? So

risk reward, the importance of
actually holding out for those

your plan the how crucial it is
to actually hold your trade

loss into profit. So the worst
case scenario is still going to

full target but if we actually
that level in reverse rather

points low. If we then go take
one of those structure points

we made so far on this trade
we'll have already taken half

to entry. Removing the risk
from the trade. Uh another idea

to target to fit our risk
reward strategy. So some

examples there of the trade
management processes. When my

what this will show is a large
build up in momentum the way

stop loss in profit or break
break even we've still secured

is when my trade surpasses two
structure points right as we

trade is X amount of pips into
profit I'll move my stop loss

the importance of trying to
hold our trades out all the way

pip key level what this means
is if we break the level and

but there's a key level 100
pips away we could actually

continue brilliant we'll
maximize profits and hit at

of our profits off so when this
trade runs all the way to hit

changes or when a trade looks
like it's going to move against

then look to take 50% of our
profits when we hit that 100

than getting burnt and losing
out on all of the profits that

for example if we have a
overall target 200 pips away

goes south. Um we also need to
think about the discipline and

spoke about in previous videos
I'll actually then move my stop

close my trade out with money
made. When price reaches a

levels these zones targets and
entries when price reaches one

preset key level so a level
that we've plotted from the

another example is if structure
changes I will actually then

look at criteria for actually
exiting a trade early if it

through actually managing your
trade towards targets. So we'll

full profits early? Things like
this, okay? Trade management

stop loss orders to entry? Uh
when are you going to move them

manage the trade once we're in
it, okay? When you enter a

trade, how will you manage it?
When are you going to move your

to actually enter a trade to
execute a trade and when we've

profits when you hit key
levels? Are you going to take

start from that first part and
we are identifying these key

of these key levels I will take
X percentage of my profits so

process needs to cover every
step of the way from the entry

throughout the trade, right?
Are you going to take specific

we'll begin looking at the
trade management process. We've

key levels and supply and
demand we want to wait for

spoken about trade execution,
looked at what we need to see

things that we've spoken about
so far so that's an example of

confirmation so and engulfing
an inside bar one of these

supply and demand zone and then
I will buy or sell in line with

or sell in line with the market
using candlestick confirmation

be identifying the market
structure identifying which way

going to plot my key levels I'm
going to plot my supply and

these zones a key level support
and resistance key level or a

step two my real first step of
technical analysis is going to

the trend and in line with my
analysis using candlestick

done that, we need to look at
how we're actually going to

some top down analysis from the
high time frames to the low

into profits? When are you
going to take partial profits

see market structure we need to
identify an entry area using

demand zones then I'll wait for
price to react into one of

it takes to actually find and
execute a trade So from there,

then of your trade execution
criteria might be step one I'm

so the first step really is
going to be writing down what

and only when we have
candlestick confirmation okay

and then find candlesticks to
actually enter the trade so

your entry criteria right what
do you need to see we need to

going to focus on a top down
approach I'm going to carry out

time frames to view the market
view all market flow aspects

the market is running overall
when I've done this I'm

price to react give it time
give it patience and then buy

criteria we really want to
write out a step by step

So, what is your criteria to
actually do this? What do you

and carry them out in? And then
how are you going to actually

we can actually go ahead and
enter a position so an example

what we what we need to see
what we need to look for before

see before you consider
entering a trade, right? Trade

going to identify? What order
are you going to identify them

things like market flow and
candlesticks, the things we've

process to actual you know
trading technical trading and

looking for one, two, three or
more conflicts or reasons to

spoken about so far. So, what
market flow aspects are you

base in place. So, step one
then, trade execution criteria.

buy or sell? Trade execution
criteria needs to include

need to see before you consider
entering a trade? Are we

processes and trade exit
criteria as well. So this

execution is actually entering
a trade, executing a position.

need to be marking down in your
trading plan to actually go

talking about trading
processes. So one of the major

guide to your actual technical
approach. This includes three

next video.

I say trading processes I'm
referring to this step by step

major areas. Trade execution
criteria. Trade management

trading processes that we're
going to be following. So when

Video, we're going to talk
through each of these. I'm

confirm an entry using
candlestick patterns that we've

spoken about in the course? So,
for our trade execution

What we mean here is actually
looking at what do you need to

parts of our trading plan when
we've got those risk management

going to show some examples as
well of what kind of things you

forward successfully and with a
solid plan, solid foundation

and target guidelines in place
is to actually look at the

Welcome back to the course. In
this video we're going to be