5/6 $RDDT entry, 3 stops at 33% each at 33% staggard level from LoD (you need your spreadsheet to already designed to calculate the price level) 6/6 pre-market, adjust 2 levels to breakeven (avg price), maintain 1 stop at LOD. the rationale is trade is about 1R profitable, u do not want a wide swing of +1R to -1R (that's 2R loss). i does it to max that possibility from +1R to -0.4R max with cost. 7/6 pre-market, bring all up stops to breakeven (avg price). i will not consider scraping profit unless it's 3R. let it build since volume is creeping in stronger. my assumption of this trade is at 2R because i will only enter at 57.40, recapture of 10&20-MA on 5/6. 8/6 this day 4, a situation where i will scale out position no matter where the trade is. 30% size out, very minimal profit but if a trade is gonna work, it will work immediately. remaining stops remains at avg price. think risk first, but allow rooms for trade to work 9/6 day 5, no action until close below 10-EMA 10/6 day 6. no action until close below 10-EMA 11/6 day 7. no action until close below 10-EMA 12/6 day 8. this is your 3R to size out again. 30% of nett size out. you should be left with about 50% size. remaining size still at breakeven, waiting for close below 10-EMA. 13/6 day 9, no action 14/6 day 10, 1st close below 10-EMA 15/6 day 11, market 5M ORL. set stop at that level. stop out. it may seem i am doing alot of things, but honestly it is just stop adjustments for the 3 initial traches of stops which takes you less than 5 seconds. i may not have the best sell rule, but the way i manage is always to reduce possibility of substantial profit loss swing. nett 3R winning trade?
5/6 $RDDT entry, 3 stops at 33% each at 33% staggard level from LoD (you need your spreadsheet to already designed to calculate the price level) 6/6 pre-market, adjust 2 levels to breakeven (avg price), maintain 1 stop at LOD. the rationale is trade is about 1R profitable, u do not want a wide swing of +1R to -1R (that's 2R loss). i does it to max that possibility from +1R to -0.4R max with cost. 7/6 pre-market, bring all up stops to breakeven (avg price). i will not consider scraping profit unless it's 3R. let it build since volume is creeping in stronger. my assumption of this trade is at 2R because i will only enter at 57.40, recapture of 10&20-MA on 5/6. 8/6 this day 4, a situation where i will scale out position no matter where the trade is. 30% size out, very minimal profit but if a trade is gonna work, it will work immediately. remaining stops remains at avg price. think risk first, but allow rooms for trade to work 9/6 day 5, no action until close below 10-EMA 10/6 day 6. no action until close below 10-EMA 11/6 day 7. no action until close below 10-EMA 12/6 day 8. this is your 3R to size out again. 30% of nett size out. you should be left with about 50% size. remaining size still at breakeven, waiting for close below 10-EMA. 13/6 day 9, no action 14/6 day 10, 1st close below 10-EMA 15/6 day 11, market 5M ORL. set stop at that level. stop out. it may seem i am doing alot of things, but honestly it is just stop adjustments for the 3 initial traches of stops which takes you less than 5 seconds. i may not have the best sell rule, but the way i manage is always to reduce possibility of substantial profit loss swing. nett 3R winning trade?
@jfsrevg But I don't think you will enter this because there is no huge relative volume increase during first 5/15/30mins on 5/6
@jfsrevg Appreciate it! If you don't mind, a follow up as this is my last mile on risk management. From my understanding of your preference on RVol, your entry would be the blue mark at $56.13 around 10:21 EDT and the original 3 stops would be the orange marks?
@jfsrevg Assuming on Jun 5 (first day) you only made a profit of 0.1R, how to you set your stop loss on June 6 (second day)? Would it be the same as the first day or set to breakeven?
@jfsrevg It's good to be able to control such risks. In Vietnam we have to wait until the 3rd day to sell shares so we cannot trade in that way
@jfsrev Hi Jeff, is T+3 include Sat and Sun for 30% size out?
@jfsrevg Hi Jeff! I'm studying this and I was wondering, do you only move the stop once the market closes at those R multiples or do you adjust them intraday too once the 1R/2R levels get hit?
@jfsrevg hi jeff, how do you re-enter if price crosses recent high or breakeven price after hitting one or two of your staggered level stops?