Using Day Trading Stop Loss For Profit!
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- Опубликовано: 28 сен 2024
- What if we use our Day Trading Stop loss as our Take Profit instead of setting a Take Profit on a Break out and Minimizing our Profit Potential. Far to many times have I taken profit only to see the Market push another 10-20 points.
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I started doing this, and yeah complete game changer!
Woo yea! Using this exact strategy along with keeping the losers small was a game changer for me. LETS GOOOO!!!!! 🙌🏼💪🏼
This is the way
Yep, I always trail my stops while in profit!
Great video! Thank you. My next hurdle that I've been trying to focus on is staying in trades longer and this helps.
Awesome Patrick thats how your gonna get that new boat!!
For scalping the open like you do, you will LOVE riding a full load using this management. Scaling in and out for 10:00 on, as usual.
That’s what I was saying couple weeks ago with a trailing stop loss. And you said “do I look like a trailing stop bitch?” 😂 sorry had to!
This is not trailing stop
2 Higher green or 2 lower red candle trailer, then switch to 1 if the profits get ridiculous
Will be a technique when the drawdown stop chasing you, buffer max gains and you can play like this
U 4 ME & ME 4 U!
Awesome ❤
Thanks 🤗
That’s funny. I was practicing doing the exact thing today for a similar reason. Great tool to help get you funded! You build a cushion better.
Hello Patrick, the platform you use is TW? with tradovate? It's curious, I'm in the combine with tradovate but I see that your interface is more comfortable when launching stop/limit orders... thanks in advance
Very nice.
Why doesn't Tradovate have trailing stops?
Dear coach . Thanks
Epic thanks, mate
Guys remember the spread. The diffrence between the buy and sell price. If you don't move the stop enough you may have a negative trade.
Another reason to not use Apex lol
+1 babyyy
💯
Could you do a video on how u use the tick chart in relation to the 1 min, 3min etc. thanks for all the knowledge Pat!
This is what I do. My biggest issue is I end up trailing it to close and get stopped out to soon. I started doing it when I came to the realization that I may know where it's going but I don't know when or how long it's going to take to get there. I would break even a lot because it would stop short of my target and revers all the way back.
I started doing this two weeks ago. It's been working well so far. One mistake I made with it last week was seeing it pull back, and then pulling my stop loss down to avoid it and losing a lot in the process. It's a WIP, but I'm liking it.
I've been doing a lot of candle by candle lately you get 20,30,40 points in your favor with your size. You're doing it in high cotton.
Risk management, capital preservation Monday coming soon.
Show us how trail stop loss on Quantower, Sierra Chart, Motivewave and NT on Mac.
Nice strategy bruh ✅
You a goat
This works great on accounts with EOD drawdown or a static drawdown. For trailing drawdown firms, this will kill your account fast😊
That's exactly how I trade, with a trailing stop loss. 👍
Good trade Patrick, but isn't this just a trailing stop-loss?
This is a manual strat based on the individual trade to maximize profits. It's not setting an arbitrary number that covers all trades and treats all trades like they are equals. Takes the idea of trailing stops and makes it a sharp knife.
thank you for another good vid! your previous video about getting daily limit was exactly what happened to me that day and same trade..... I knew i was going in tilt but then boom. daily loss...... your video kinda helped me to not be on too hard on my self and ready for monday. thank you im having huge issue with chopped up on consolidation...... got three day of daily stop this month.... all happened on those chop...... i need help!!!!
Bro what broker do you use for trading ?
What platform are you executing trades on? I signed up for the combine but haven't chosen whoch platfor yet.
it´s tradovate , but his technical chart is open at tradingview.
I do this with personal and funded accounts. But during test phase for a funded it equals as a loss with the trailing max loss.
Shouldn't do with his Topstep EOD stop