Original subtitles

is quite hard to do in reality you know from a psychological

continue to do this and I'll just leave you kind of a one

make sure that you are constantly reviewing the data

final little tip and that is that I would essentially

running at a lot of profit price is obviously going to

and evolving your trade plan as you grow as a trader so just

possible so this will give you a repeatable process in the

money, so you need trade management to be very simple

remove the risk on your trade so either always partial at a

every time and that will help you to achieve consistency and

an active job then you know it's probably not likely that

between each trade when you do so what I would advise is that

fits all when it comes to trade management. What will work will

be different for everyone. So that's why you need to spend

the time to find what suits your strategy, what suits your

and mechanical almost so that a robot can execute it for you.

nearest swing point on your execution time frame or you

course your current lifestyle. So if you are someone who has

your management strategy as simple and mechanical as

see see what works for you so hopefully that's kind of all

a little bit longer or you know if you're entering you know

management approach and then kind of your aggressive

want to literally just target you know a fixed four R fixed

but kind of just to wrap up with a few key points on this

five R be in and out and just full TP right full trade volume

of taking a healthy amount of volume off at the next next

going to need to be a bit more aggressive so let's say you got

frame trend but pro your medium time frame so let's say this is

and not even bother trying to push it even further okay but

least you're still gaining that experience and you know

know absorbing the the weekly content that we're putting out

hard time frame pullbacks and that can be very hard if you've

practicing holding trades for much longer for much longer and

perspective in terms of holding a trade with you know your full

you at least try to be very mechanical in how you choose to

volume on each trade that you take you know even if it's

recommend that you leave a very tiny amount of you know trade

have to pull back right you're going to have to have those

practicing you know that you don't really care about then at

insignificant amount of volume on you know when you're

this a little bit further but what I would recommend is kind

and you know you might just surprise yourself at how far

literally just nought point nought one lots to so that you

strategy that is most effective for you personally as you

whatever method you choose to use just do it the same way

So you may need to devise something that is a bit more

got your full volume on but if you leave kind of just an

which obviously would be how this would look here then you

know of course you can always try your stop loss to break

countertrend approach and and yeah try and devise some sort

scale your account size, generally, the harder it's

flat by the end of the day but of course others of you may

nearer swing high and try and push a trade as far as possible

fix R or always partial at a set technical level such as the

even once price you know hits a certain level for example but

some of your trades will actually run and obviously this

on so that you can prove it works. Now, the more that you

can get experience practicing and managing a trade long term

volume on for for a long time because you know you can be

what is working and less of what isn't and you will find a

which is where I would you know take a healthy amount of volume

Now, when you're using technical targets for your

reduce the chance of squares and finally test test and test

stick to that same way every time but I think it makes a lot

you know a decent amount of volume off kind of near this

prefer to you know be a bit more of a hybrid approach which

trade, there may be some discretion and differences

you're just getting in and playing those M 15 ranges being

that you are collecting and very simply just do more of

going to be in your emotions, right? As you're trading more

some more you will always constantly be refining tweaking

90% of your volume at the nearest sort of medium time

turn around and switch bullish any point then you may just

up to the 4 hour swing high then when we get up to the four

frame low and be really aggressive and then maybe push

starting to make sense obviously you know we will look

set and forget for example. And as I said before try to keep

you can have a very active and hands-on management approach.

market as something that is easy to test and collect data

down towards kind of you know this origin the mon zone and

at a lot more trade examples as we go on and as you kind of you

psychology and what suits your training personality and of

you can look for an entry in here to get long and then you

specific management lesson. There is definitely noone rule

too much yeah and just kind of yeah just just experiment and

of your your pro-trend conservative approach

could then be playing you know within this next M15 range here

you know pro the M15 but counter the four H obviously in

that high then you know potentially the next day we

and then sort of try and swing that remaining bit of volume up

is a bit kind of more similar way that I trade at the moment

of creative ways but keep it simple don't over complicate it

take off all of your volume by the time it gets to that M15

you may just want to have one management method and just

that kind of more pure day training approach and you like

obviously if it's bullish I want to target that week high

yeah I would definitely recommend kind of having kind

more sense if you are someone who is going to trade

M15 ranges but then try and swing obviously if it's

nearest low so in this case you may want to take off like 80 or

much nearer kind of the four hour discount and price could

broken so that means you would enter the trade and you would

London or New York session or just by the end of the day so

short here right so this would be counter the higher time

do nothing until this high is taken and then once that high

swing high swing low and then obviously when price breaks

and you know it's quite a big range so you may want to swing

countertrend to kind of have a slightly different approach for

the time of this recording is that I like to have a fixed our

this case you know there's a long way to go all the way back

price does reach here so that you obviously can you know make

is countertrend trading now it may be a bit simple or some of

any other last thing I do want to mention before I forget

when you are trading countertrend because you are

you can have you know a much bigger amount of volume when

protrend you know try and swing some volume up towards that

take off all your volume off here right and then you just

is going to you know have a pretty decent run well instead

and then you're playing that next range for the day so then

hour swing high and we get that four hour pullback the next day

the the the nearest way to the way that I personally trade at

play the next M15 range and you keep playing that until we get

stop to break even until say your medium time frame high is

can start playing those countergen M15 ranges right and

higher returns if price does go in your favor and that's where

know always just play the M15 range, so you could literally

think about it if you want to be a bit more of kind of that

want to leave your risk open and actually just not move your

price breaks your execution time frame high or maybe you

you know just trading a stop loss to break even can be a bit

you have no positions left running is you could just you

to be completely flat by the end of the session you know the

to that four hour high there now another way you can kind of

M15 swing high low right whatever way I'm training

actually want to hold on to the trade for a lot longer so that

what's the one beneficial or the one benefit the one pro to

execution time frame so in other words if I enter on the

at technical targets which will generally be the next sort of

other you don't have to use a combination of the both right

wouldn't recommend that but that can work out and obviously

method but it's just to kind of get your brain thinking just

method for initially removing my risk and then I like to look

even once I you know break that first nearest week high on my

more beneficial so you could either do that you know when

kind of wraps it up right hopefully that makes a little

so just kind of experiment a little bit but yeah the kind of

is taken then you're happy to trail to break even there okay

know your weekly your daily your four hour so yeah that

the 15 second for example but of course that could be you

doing that compared to partialing out to break even is

going to trail my stopless to break even now I personally

how technical targets can be you can just use one or the

bit more sense you don't have to follow that kind of exact

would be the M15 and the lower time frame would be the M1 or

that when you want to you know if you have a really high

poverty swing trade and you you have high confidence that price

of taking off 20% of your volume really early you might

time frame would be the four hour the medium time frame

let's say you just wanted to use technical targets well then

what you could do is you could go I'm going to go to break

whatever that means to you so you know in my case the high

Mone I'm as soon as price breaks this Mone high I'm just

understanding how the fixed hour can be beneficial and also

whenever I say specific time frames right remember it's

amount off at the four hour high now of course wherever

then going to take off X amount at the end 15 high and then X

that mechanical as possible and I would say you know I'm always

technical targets but that's where I then again try and make

the the bulk of the remaining volume that I have left in the

personally prefer kind of fixed off for initially removing my

far and then after it breaks structure it's going to pull

be cutting yourself short a lot of the time or you you know 10

discretion is going to come in a little bit when you're using

trade just because that makes a lot more sense now obviously

risk and then I prefer technical targets for kind of

back and then you could end up you know not banking anything

R could be up here and then you're trying to push price too

when you running quite a lot of profit so that's why I

and then the next remaining partials at 15 R that's good

because it's based on the numbers but you know you could

I'm going to always going to take you know partials at 10R

individual setup if that makes sense so rather than just going

to the week 4 hour high okay and that's kind of then how you

maximize your profit potential but it's then tailored to each

can bring in those technical targets to to kind of help you

going to try and swing that remaining 20% for that 17 R up

your volume left and you can go okay well on protrend I'm

there and then you've got I think you know that be a 20% of

this can be a next decent level to take I don't know let's say

60% of your volume off right a decent amount of volume off

going to pull back or potentially reverse right so

barrier is going to be that M 15 week high and it's a week

quite far so you can go okay well the next kind of major

high right because it didn't take out the swing low so this

is going to be the next good technical target because what

do we expect after price is going to break that it's either

everything's aligned actually I want to try and push this trade

M-15 trend, you know the pro the medium time frame I'm pro

my high time frame let's say the four hour as well

targets then are a lot more beneficial because then you can

go well actually now I've removed my risk I'm pro the

set up slightly differently so I think that's where technical

this this every trade is unique right and it's always going to

because you know sometimes ten R be here sometimes 10 hour

your high time frame and your medium time frame you know all

could be here right it's all going to depend on price action

some people but every single trade is going to be different

how big the range that you're you are within whether it's pro

every time that can work and you know I'd recommend that for

going to be let's say I'm going to take 80% off at 10 R

analysis to your advantage because rather than saying okay

once you've removed your risk now you can use your technical

I've taken 20% off a fourR now my second management step is

component and the reason why this is beneficial is because

bit lower and then continue okay so yeah very soon let's

about technical targets now right kind of the second

just say fourR we take off 20% and then we can start to think

breathing room because sometimes it will come a little

your advantage you know that can give you a little bit more

you've kind of used the the the partially break even method to

straight through but yeah who cares and especially when

and of course there will be times where it just smashes

and yeah just delete the risk reward tool of your charts

this demand zone and then you know ideally it will continue

reanalyse price C actually it's probably just coming back to

do you've done all the hard work you've stacked you know

now balls it up and let your emotions get the better of you

back my profits going I don't want to take a loss don't

want to take a loss actually you can analyze price and go

most likely just coming back to fill those new orders of near

fall where they're going to fall let price play out let's

do whatever it's going to do we have no idea what it's going to

where I entered so you know no need to panic let the numbers

the the odds in your favor you've executed your edge don't

price break structure we know it pulls back and it's probably

created a a new demand zone we've what do we know after

well what's happened we've we've broken structure we've

fear and going oh god price is coming back price is coming

what you'll actually notice instead of sitting there in

neutral obviously don't forget that you're in the trade but

just kind of look at it as if you weren't in the and then

in the trade and that can really help you to remain

look at price action and analyze it as if you were not

loss up and just look and reanalyze price like you always

know exit the trade at break even or you know chose stop

want to delete the risk for a tool of your charts and just

and sometimes you can get a bit emotional about it right and

you can kind of have to fight that urge to not either you

yourself being emotional where you see your trade learning and

profit and then you see it pulling back towards your entry

right this this is kind of something you know if you find

way back to here tap into that freshly created demand zone

sweeps that high right price could obviously pull all the

frame high you then take off your volume and then after it

obviously is price can come up it can break that lower time

here rather than trading it up because what can happen

out you are at net break even but you get to leave your stop

20% of your volume that mean that means if you're stopped

trade so let's say we get about here you can then take off that

let's say for example that no matter whenever you're you're

in a trade you wait until fourR to take some volume of your

trading in the market so just to keep things really simple

you've collected through your testing and your live

I could start looking for technical targets to start to

fixed hour method is one of the best ways for doing that

out but it will just come with testing more and more live

journaling to kind of figure out what that best combination

is for you so this will take time you know so figure that

your winning trades are going to exit at fourR or 10R

right 20% of your volume you then bank so then if price

rather than the gambler where you kind of try and fix your

that is that could be you know down here before the lower time

running so I as soon as I reach fourR it doesn't matter where

generally most of the times is not done on that kind of first

how I'm going to you know initially remove that initial

comes down and it stops you out of your remaining 80% of your

technical level but literally just where am I running because

essentially protect my stop loss so there's obviously one

enter a trade so IE let's say over here I enter this trade

with the strategy then those commissions really can start to

be purely focused on kind of just giving you a rough example

here you know I'm I'm tagged into the position now you know

of both sort of the fixed R method and also using you know

broker but if your commissions are quite high then you may

to manage positions. Um potentially using a combination

for looking to take the trade. Obviously this is just going to

what I found is kind of two main benefits to that one is

that's why it's going to differ every trade where four I will

in your favor if you kind of just try and be the casino

module right of of trying to stack that average PNL that

and and two secondly the the technical side of things

which is even more important is that you are you're just

order to you know depict how we actually arrive at this point

playing you know everything we learned in the trading and edge

you can start to really you know use all of the data that

profit at this point you still have full volume on the trade.

because you know if you if you always you know that all of

the psychology side of things you don't have to think about

and then continue in your favor So let's look at kind of the

of you know aim for our trade to run to and then to look to

I know what I'm doing just really helps with emotions yeah

risk that I took to enter that position so you know remove

odds as much as possible I think doing the utilizing the

big swing sometimes it's going to be a tight swing and

right but that's why you know for me removing my wrist

case it would be here sometimes it might be a lot higher up

out for a £800pound loss so obviously that initial 800

mass side of things. So in other words, you will always

to do that but actually the the point I was trying to make

be sometimes four I will be here sometimes you know in this

throughout all of the lessons so far. I'm not going to

loss that you take when your full stop loss is then hit

of how you can you know begin to think about how you may want

were to then reverse against you and actually hit your

quite high so generally your commissions will be pretty high

and you know X amount of volume at each of those levels then

percent of your profit and that means you would bank 8hundred

combination of both fixed R and technical targets is because

the trade volume and what this means is that you have actually

the second method of setting TPs or partial orders is based

average reward to risk ratio combined with your strike rate

which then will net out to give you a break even trade overall

because it it differs from each trade you know it's just easy

say you're running about fourR up about here you then bag 20%

strategy and something you can actually execute with your

now one thing that you will need to kind of pay attention

who trades with very small stops your lot size will be

initial stop loss instead of being stopped out for that full

used a fixedile method to cover your initial risk but then you

because partials allow you to remove risk without choking the

of your trade size. So would you essentially close out 20

1, 000 pounds of your initial risk you are now only stopped

different ways in which you can devise a management strategy

a set of equal highs or lows or whatever what do we expect when

was the Mone time frame right sometimes this is going to be a

I personally like to use fixed R for that initial kind of

loss so that if price then you know goes in your favor right

trade risk and essentially break even a position you're in

personally or at least I personally prefer using a

to look to potentially take my full take profit or to take

make sure that you are still net break even overall because

first step of my management just to remove risk from my

volume that is actually a net break even trade so the way I I

structural point whether that's a swing high or a swing low or

or two ways you can do this either you trail your stop loss

add up and eat into your PNL kind of over the long run. So

risk. If your account is let's say a hundred thousand pounds

always based on you know a fixed amount of profit that I'm

frame you know high that you've entered on so let's say this

technical targets because I think you know I haven't

obviously break down all of this price action again in

that makes most sense to you that works in with your overall

remaining 80% of the trade volume at the nearest weak M15

partials but actually what I want do is I just want to know

volume at fourR that is then cancelled out by the 800 -pound

covered your initial risk so that you do not need to trial

80% of your initial volume running left on the position

to your entry price now we're going to talk about this in a

numbers behind this. So let's say you close 20% of your trade

now after you've partialed out this means that if the trade

stop loss to break even and not taking any volume off is that

right? But this is where you can then partial out 20 percent

simple as possible there is no need to make it overly

want to pass out a little bit more volume just so that you

price breaks at we expect a pullback or a reversal as price

back once again to the infamous sort of Utopian trade example

trade you know like how it can happen you know if you simply

complicated sort of whatsoever so we spoken about this a fair

up to break even or you can take a bit of volume off your

areas in which you want to be taking profit so these will

bit already and that's using partials to remove your initial

pounds profit 20% of four grand right now because you only have

and you risk one percent that's going to be a one thousand

risk in a very mechanical way the same time every time I

technical factors. This is just purely based on sort of the

on technical targets so this is where you are looking at price

obviously if price hits a fresh stone we would expect some form

fills and sweeps at liquidity right therefore these become

personally find it to be the most effective management

the position. So for instance, placing a take profit for the

tick over and kind of start to think about all of the

annotating the strategy that we've been looking at

at 4 hour profit you will then partial out and close 20% of

kind of made it clear already the reason why I would

your initial risk without needing to try your stop loss

position at 10 hour profit right now that's fixed hour but

So four times your initial risk is 4, 000 floating profit

either be at unmitigated supply and demand zones so those fresh

you to being prematurely stopped out because what can

and it breaks down through them and it hits your trade stop

could just come back a little bit tag you up for break even

can use a technical target to manage the remaining volume of

pound risk on that trade. Now if you're running at four hour

might always partial out 20percent of your position at

volume when you're running at four hour profit to cover your

set your take profit order at a predetermined amount of profit.

happen as we know after the liquidity module right, price

take profit or even just partial profits there now of

this so let's say you are taking a trade that is with the

you know if you do take quite a lot of you know break evens

this means that you don't need to try your stop loss and it

trade then after I've done that so it's always obviously it's

what fixed R allows me to do is it allows me to to remove my

thinking about those three methods there now my personal

simple terms, you're essentially looking to exit at

level that you entered before it then continues so you just

final TP now the other benefit to this management style is

to use in reality. Now, the other drawback is that it

money as just using one full take profit like the first

those three individual management methods you know

method now this has nothing to do price action or sort of any

and kind of you know quite general advice to you would be

management in order to you know be watching price and training

set you know those orders to partial out along the way on a

volume to be partial out as soon as you enter the trade so

current lifestyle but as always try to keep it as you know

downside to stop you out, then essentially that should be a

zones right or structural points in the market because

predominant trend. So, training stop losses can be quite hard

that you are essentially looking to try your stop loss

it too it's just you know as soon as it hits four hour boom

actually decide and know where to set take profit orders or to

So for example, you might always exit your full position

really consider using a stop loss trail just for moving to

bearish trend change. Um so in theory, you kind of, you know,

favor and it doesn't come back to your to where you've trailed

action to decide where to place your orders and you're

break even and not really anything else I wouldn't really

initial risk. So that if price then reversed and stopped you

management tools that are available to us how do we

trade once it's running in profit to then cover your stop

removing your risk this way compared to just training your

to and consider more specifically if you are someone

specific trade well there are two main ways that we can do

you the of kind of paying yourself along the way so that

your stop loss behind structure or or you know zones as they

too now this of course you know it's going to vary broker to

price then breaks that higher low, right? It breaks the

poundprofit that you banked when you closed out 20% of the

but as always that's just my own personal experience please

or the second method with using partials I would kind of only

targets and a very basic example could be something like

will pull back a little bit to kind of you know around the

essentially asking yourself you know where is price going to

advise trading a stop loss to lock in profit as I don't

just try your stop loss to your entry price obviously price

requires a much more hands-on approach with pretty active

bullish and you are trading behind the higher lows. If

this the first is based on fixed art so the fixed art

use what works for you and just keep testing and refining yeah

know let's say your trade is running at four hour profit you

need to give it that room to play out sometimes now an

position with the full volume size of the trade so this is in

loss to take you out then in theory you should be exiting at

you know trail your stop loss to break even at some point

stop losses and one main benefit is that you can move

you know you do want to bear that in mind if you do choose

grab before then continuing the move in line with the overall

risk but you're still leaving your full trade size volume on

the way right when price eventually does reach your

partial out some of your volume to cover your initial risk then

swing high or low. So hopefully now your brain is starting to

in reality, what you'll find is this method can very often lead

that trend as long as possible and then you should be exiting

course you can use combination of both fixed our and technical

your stop loss because if price does stop you out, you will

to manage this way so all of those pros and cons across

obvious drawback to using partials is that obviously when

to focus on using either the first method so we got full TP

money compared to if you had partial out some volume along

end and maximizing your reward as much as possible. However,

or you know potentially even a full loss another drawback of

actually be at net break even. So what you have done is you've

of a reaction and likewise you know when price breaks a

you know really great technical areas for us to look at to kind

out. If it hit your stop loss you will actually be net break

continuing again in your favor. But if you had trailed your

enter on the Mone time frame and then when price is running

you're kind of maximizing your profit in that manner now kind

M15 trend right so pro the M15 trend and let's say that you

have bank some profit along the way right now one of the other

the first sign of a trend change, right? So if you're

your stop loss at your entry, right? Then you will make more

at fiveR or you may always partial a set amount of volume

the way back down and you know stop you out for a break even

at a set amount of running profit. So for example, you

you do hit a big winner and price does reach your your kind

needs to play out in your favor because a lot of the time price

ridden or you know, roads, whatever the word is, to road

potentially pull back or maybe even reverse and it's those

you've been parting along the way so you won't make as much

they are not an exhaustive list by any means whatsoever but

if price does not reach your final target at least you will

in the market as they form so that if price then breaks those

you will not make or sorry with partialing I should say you

method you know compared to taking partials along the way

they kind of are the main ones that come to mind kind of

bit more depth in just a few minutes but essentially you

behind key structural points or behind supply and demand zones

of a downside and a negative to using just one full TP is that

fourR profit and then the remaining eight percent of your

getting there but when you're just using one full take profit

market right so price will be moving around the clock so you

sometimes price will pull back to your entry level before then

throughout your trading career so now we understand the the

this method is that you do not cover your initial risk unless

like in the first method if price hits that and obviously

you can start to lock in some of that profit by trailing your

you combine this with the trailing stop loss method and

you still have your full volume on the trade at that point so

now once you're in it you can just go you set those three or

a position that then went on to be a big winner right so it's

stop loss to break even then you would have been stopped of

of your volume at four hour profit and this will cover your

close out an open position for a profit. So, with the does not

your stop loss to break even so you are covering your initial

major benefits to partialing is that you can use it to cover

the point of expectational of flow failing. So for more

can then partial out 20% of your position so you close 20%

as that trend is coming to an end, right? So, in theory, that

this first method when price does hit your final TP you know

just allows you to give the trade you know the room that it

your trade volume so that's the second method and then the

off your position you know along the way as price is

stop loss and your take profit order and essentially just walk

even overall. Now the main benefit of kind of you know

you are in a trade you can you can basically just set your

effective and repeatable trade management strategy but what

profit it's very simple you know pretty mechanical in that

can just wick those structural points or zones as a liquidity

form because remember FX is obviously a twenty-four hour

stop loss is and it will eventually stop you out of your

each of these methods with the first method so just setting

off in that kind of set and forget approach because once

that will say you know close out 70% of the trade volume for

example you're in a trade once it starts to move into profit

one full take profit order this has the benefit of a very hands

full position for a profit now there are some pros and cons to

micro pip of your TP and then it could reverse and pull all

in that manner what it also means is that when price does

you can end up giving a lot of running profit back to the

comparison to say partialing in the second method because with

you can obviously just set your various TP levels with the set

predetermine how much volume is taken off and this also gives

method. So, that then brings us to the final method of trading

four or however many TPs you want along the way and you can

market because price could come within you know just even one

profit is hit or the position then hits your stop loss the

your final take profit order because you have taken volume

just placing kind of one take profit order which completely

close 20% of your trade volume for a profit and then you can

during the trade now in a second method with using

management will obviously have a major impact on both of these

to break even as they move their stop loss around their

reach and hit your TP order you are then closed out of a

or you will hit your full target for you know your full

won't make as much money when price actually you know reaches

quite near your entry so that when price hits it you will

behind price in order to remove your initial risk so this is a

should be a very effective way of kind of riding trends into

partials this can also be a very hands-off approach where

kind of you know you know instead of you kind of just

away so in that case you are either stopped out for a loss

stop loss you know even further along with the trade before

trade volume so for example you could set a partial take profit

entry price but then as the trade runs further into profit

trading edge. So, we know the benefits to nailing down an

second method is using partials so this is essentially pretty

you can set multiple take profits along the way to slowly

a profit and then a final TP to close out the remaining 10% of

main tools at our disposal and the first of those is using

you can then trail your stop loss order into profit two

filled and the position will remain open until the take

finally price will eventually retrace to wherever your trail

final method is to use a trading stop loss so for

of final target or your further out targets then you will not

take profit orders. So, a take profit order is very simply a

improve your performance over the long run because it's

closes you out of the trade with your full volume instead

does that actually entail? You know, what tools can we use to

set your second take profit further away from your entry

partial you out of your position with different of

factors and therefore your overall profit expectancy. So

the trade. So, this way, if price does continue in your

type of order that specifies the exact price at which to

much the same as using a take profit order except instead of

you know, have as much volume left on the trade because

reach the order price then the take profit order does not get

that you know you actually stick to your rules and you're

not deviating from your plan and just end up taking you know

know you actually resonate with so that it is congruent with

result of that that will lead to your winners being far

actually let the trade play out in your favor and as a direct

build such a management strategy? Well, there are three

your own psychology that is really going to massively

results by your positions in pretty much the exact same way

bigger than your losers so then you are tilting the numbers in

minimize your risk as quickly as possible in an effective way

with your own unique trading personality and it's an easy on

mastering change management is going to give you a high chance

you to achieve high returns by maximizing the potential reward

that doesn't actually choke the trade too early so that you can

risk exposure and maximize your potential reward that will be

approach to what is a random market and it will also help

rate is then the higher your average PNL needs to be for you

you improve your profit expectancy via trade management

by not cutting your winners too early and knowing how to

on average over the long term that is a factor of both your

every single time because then you are bringing a consistent

your favor and that is how you develop a trading edge and how

strike rate and your average PNL so the lower your strike

strike rate than the lower you can get away with your average

decided by how you manage that trade once you are in it. So

you know really common way for traders to to move their trades

of achieving long term consistency in your trading

PNL being in order to be profitable. Now trade

profit expectancy so essentially just a quick recap

trade is open so essentially when and how the trader exits

once you are in a position attempting to minimize your

to be profitable and obviously vice versa the higher your

should be familiar with this diagram and the concept of

the amount that you can you know expect to make on a trade

to both minimize risk and maximize the potential profit.

them. So what actually is trade management? Well, it refers to

their positions. Now if you have watched trading and edge

developing a strategy with a positive expectancy then you

So it's a specific actions made by the trader whilst a live

just **** trades that just are not a part of your proven

the long term, right? So this is where we're going to need to

everything a trader actively does after a trade is executed

this is when your amygdala is going to be trying to go into

going to increase your actual adherence to your trade plan so

to really develop and test extremely clear and simple

and then finally developing a management strategy that you

module you know specifically the lesson that is called

but know that that's not going to help us make money in

fight or flight mode and it's going to force you to make all

avoid those perceived pains and in order to try and protect you

trade management rules so that we can almost blindly follow

of those common trading errors in order to try and help you

instincts are going to start kicking in and you're suddenly

going to have this enormous desire to just want to win and

be at their highest. Because you can see your profit and

that you can repeat the same way every single time. Because

inner caveman so all of a sudden your your survival

actually in a trade this is when emotions can really just

for most traders you know myself included once you're

remember you know that money to you is the risk of life to your

know your money on the line pretty scary stuff right I

that trade whatsoever. You need to have an extremely clear and

loss fluctuating up and down and you've got risk there you

where you're going to exit your position before you have even

executed that trade then obviously you should not be in

you know relatively mechanical way of managing your trades

price. Great. Now what? If you do not know exactly how and

and you've now executed the trade. So you are now in a live

in your trading account is floating up and down with

see in your trade plan, and your entry model has set up,

position with your capital at risk and your profit and loss

area that you want to build your trade idea around, you've

time frame story, you've refined your zone to the exact

in-depth multi-time frame analysis, you've built the high

then of course you can slowly start to build from there.

ticked off every single piece of compliments that you need to

So you've done all of the hard work, you've performed your