Trade Management for different Day Trading Strategies

Trade Management for our Day trading strategies:

Our different day trading strategies have different ways to manage the trades.  Here is a breakdown of each.

Fast Track Strategy:

-      Stop goes at the previous swing high/low

-      My target goes at the next level of support and resistance

-      Very specific stop and target, and we do not trail our stop, we let it run.

-      Dynamic stops and targets, always different

 Scalping Strategy:

-      Stop is fixed @ 6-10 ticks

-      Targets are fixed @ +5/+10/+Runner

-      We move our stop to entry -5 ticks at first target

o Move stop to entry -0ticks at 2nd target

o Then manage the runner.

-      Static stops and targets, they never change.

Intra-day strategy

-      Uses the support and resistance in the market to plan our stops and targets

-      Stop goes at the recent swing high or low

-      Targets are at the next level of support or resistance

-      Manage the trade using your ‘trade-management-chart’

-      Trailing stop and a runner, seeking to maximize the profit per trade.

Swing Strategy

-      There is NO difference in the swing and intra-day strategies

-      The stops and targets are wider, but same principles

-      Will require overnight margin