LIVE TRADE on the Dax 1 minute chart (managing 2 trades)

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In this live trade I talk you through the price action as it unravels. I discuss the reasons for my entries, the context for my trades and I explain how I manage my trades.

We discuss initial risk and actual risk in terms of my protective stop and how I will know if I am wrong to take the trade.

During this live trade I manage the trade by first of all increasing my exposure as the market moves slowly against me. This is part of this type of trading strategy. The risk that I place on each trade is specifically designed to allow me to do this.

I take profits on the second trade at around the entry level for my first trade. This improves my chances of a profitable trade overall.

As the market begins to move in my favour I take partial and then full profits at appropriate times. The final bullish pin bar ends my trade.

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Comments

Nicholas K says:

Nice video and trade management – and patience too – to wait for the trading range to break

Douglas Showler says:

Excellent live trade, very calm clear explanations, thanks.

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