Managing Trades Once in Them - Forex Swing Trading in 20 Minutes

For most traders, if you think of adjusting your stop loss or target once in a trade...don't. Let the math of your strategy do the work. As long as you have a win-rate that allows you to make a profit with your average reward:risk ratio, you don't need to interfere with your trades. Not interfering with your trades also makes it much easier to isolate your problems. You may notice the following tendencies (over many trades): --If you are just barely getting stopped out before the price moves in your favor, expand your stop loss slightly, but your entries are probably ok. Note the volatility of the pair, and the spread. These are typically reasons people get 'slightly' stopped out, because they don't adapt their strategy to different pairs. --If you are getting stopped out by quite a bit before the price moves in your favor, that is an entry issue. Work on your entries. You likely aren't trading the correct patterns. --If the price is reversing before your target, then your targets may be too aggressive (or you need to be willing to hold your trades for longer in order for them to potentially reach your aggressive target). You may also not be taking ideal trades at strong support/resistance or in the direction of the trend. Some traders will find that they benefit from moving their stop loss once in a trade. This is called active trade management. Ideally, don't touch your stop loss until the price has moved at least 50% of the way to your target. This helps prevent you from "over managing" your trades, and wanting to get out as soon as the price shows you a small profit or loss (relative to your original stop loss or target). There are many ways to actively manage trades, and you may opt to not manage your trades at all (just let them hit the stop loss or target). To find out which works best for you, compare the two options in a demo account, trading each way for at least one to two months. Do this after you have developed consistency in isolating the trades and have worked through the issues mentioned above. You may notice one method produces a slightly larger profit than the other. Typically the no-touch method will produce a higher reward:risk, since you give your trades the opportunity to hit their full profit potential (your target). A trade management strategy usually increases your win-rate because you exit more trades with a profit (because you are locking in profit by moving your stop loss) but your wins (and losses) are typically smaller since many trades won't be given the chance to reach your target because it hits your altered stop loss first. It's important to watch the other videos in the Forex Swing Trading in 20 Minutes video series so you see where stop loss levels, targets and entries are orginally placed. Forex Swing Trading in 20 Minutes - Pairs to Follow and Setting Up Charts: https://www.youtube.com/watch?v=lwZEACzahec Forex Swing Trade in 20 Minutes - Time Frames and Trend Trading Strategy https://www.youtube.com/watch?v=WWvwvigX8eM Forex Swing Trading in 20 Minutes - Crotch Strategy and Strong Support and Resistance: https://youtu.be/LbdfQDN4-WI Forex Swing Trading in 20 Minutes - Position Size and Risk Management: https://www.youtube.com/watch?v=DbTWhEwHz_I Forex Swing Trading in 20 Minutes - Setting Profit Targets to Maximize Gains: https://youtu.be/PzO85h-q3mU As always, find out more at my website: https://vantagepointtrading.com/ and in my Forex Strategy Guide eBook: https://vantagepointtrading.com/forex-day-trading-and-swing-trading-strategy-guide (Note: I re-created this trade by hiding my live trade and putting out new orders to reflect my trade/stop loss and target levels. I do this to avoid accidently closing or altering my live trades)

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