TRADE MANAGEMENT when multiple LOTS positions

June 9th, 2021, 12:59 PM

I always try to pay attention in real time what is going on with my trading and inside my head in order to try and correct or work on problem areas as well as how to improve whatever miniscule edge I may have in the markets or anything else in life.

Today I realized that sometime the only edge you need may just be TRADE MANAGEMENT. once again an area everyone who trades knows about but very few actually do it or understand how powerful of a concept it actuall is..

I will be adding to this thread frequently and I hope you do too with ideas especially right after you feel like you could have managed a trade better.

What i realize is that when multiple positions are on that i have a great opportunity to manage the trade without an all or none outcome. if i have a 3 lot on i can get out of 1 at break even after fees if i feel like its not going my way or if im in small profits i can lighten up or if at a small loss.. this is the kind og muscle and brain memory that can get to start exercising your right to enter and exit trades exactly when you want and not when the market forces you! when the market forces you out then you should feel like a pubtz.. but if you get out on your own or MANAGE your trade properly then you should pat yourself on the back no matter the outcome later and be glad you managed something rather than just being a leaf in the wind!!

trade management to me may be completely different that what it is to you.. state what you think trade management is and why it is so important

trade management allows me to make changes to my bias or chagnes to my long or short trades after i took the trade. .it forces me to pay attention to the market in a now unbiased view and do exacatly what it is saying. .if momentum is slowing.. i should size down and even take a loss if it increases maybe i should hold but also take profits.. this reduces risk overall and trading needs to be looked at more from a risk stand point than a profit standpoint! the profits will come if you can handle the risk.. this is an area of trading that i believe is far from one size fits all and we all may have our own ways of managing a trade!

I can tell you what trade management is not! it is not sitting in a 3 lot nasdaq and watching it tick lower and lower for 3 hours frozen!! like i did today!! i am still in the trade and i got out of one of them but that is not good practice.. there will be a day and a time where the mkt just dowesnt come back and if you stick it out in that situation and you scaled and you are long then you are probably going to be out of BUSINESS!!

still long 2 nq lookign for a run to test 900 again

June 9th, 2021, 02:02 PM

I think trade management is keep asking yourself why are you in this trade?
If my answer is I feel good about risk to reward, I keep it, even if its just sitting around like a turtle on a log. I don't know when momentum will kick in.

If I dont like the risk to reward and can't figure where to put a stop, i get out or scale way back and start the adding process from scratch. I can't have dumb trades on for no reason, I trade multiple markets so my capital allocation needs to be on point.

June 9th, 2021, 02:12 PM

i appreciate your post but i think it much deeper than that and much more NUANCED than do i like this trade or not. that isnt really digging in deep. sure i fyou are looking to just exit ok.. i dont lik eit anymore.. click im out easier said than done but for management it takes a lot more finesse and management of the position as a whole or maybe versus another trade you have in intrad day.. but good points

TRADE MANAGEMENT when multiple LOTS positions

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TRADE MANAGEMENT when multiple LOTS positions