When trading for profit, trade management is one of the most important skills to master. By utilizing the following practices, the experts at TickerTank can help you manage risk and maximize profits:
Analyze every potential trade prior to entry. Never hop in on a whim. Sure it may be boring, but that’s what you pay us to do. We only give you the end result: trades with the best chances of making you money.
Be stingy on entry. Using a limit and sticking to it is important. Never emotionally commit to a trade. Sometimes you miss trades. It’s better to miss a trade than ride it up on entry only to catch the top.
Know ahead of time what key levels you’re looking for. By setting alerts for stop loss or profit taking before you enter, you can better evaluate your risk/reward ratio and you’re able to remove emotions from the equation when re-evaluating later on.
Be flexible but manage risk. Stop losses are critical but being flexible allows you to adjust both your stop loss (upward only) and your profit goal (upward usually). Trades can change, and allowing a trade to keep running in your favor can lead to monster gains.
All of our systems: Day Trading, Option Trading and Swing Trading use trade management as a cornerstone. View our membership options.