RunnrX wrote:Hi TRO,
I hope you don't mind my question -- I've got the 2011 Motherlode pack and am loving the indicators in it, but I have one question about your execution and trade management in the rat reversal trades
according to your interview with Tim Bourquin you said you had a plan A and a plan B
Plan A was to use inital stop loss of 10 pips, then if it goes up 5 set stop to +3, then if it goes up 10 stop goes to +5, and up 16 gets the stop to +10. From there I've decided to use a 5 pip trail stop for anything over 20 pips
So that's plan A, but you said plan B was to exit fully at 10 pips without using profit stops --- but under what conditions would you want to use plan B? Is there a PDF out there somewhere that explains this? Or could you please write a line back to tell me about it?
You have a plan for normal conditions and a plan for fast market conditions and a plan for abnormal spikes.