August 4, 2010
- in Uncategorized by schooloftrade
Automated Trade Management Strategies and Techniques for Day Trading Gold Crude Oil Russell Euro Futures schooloftrade.com
Hi guys!
Automated trade management strategies are vital to our day trading success, lets review how to set them up correctly.
I want a trade management strategy that will achieve three basic objectives:
1. Place my stops and targets correctly when I enter a trade
2. Manage my stops and targets while I am in a trade
3. Protect me from emotions and human-error during the trade management process
The single biggest reason we use automated trade management strategies as a day trader and scalper is to avoid the use of emotions in your trading.
By using this automated tool we can enter and exit the market with confidence knowing that our plan of attack is still being used, no matter our emotions are thinking we should do.
The process of setting up your ATM Strategies uses your Static Super DOM, and 3 simple steps:
First, you need to learn HOW to use your trading DOM to set these up.
Click here: Set up your ATM Strategies for NinjaTrader Charts
Second, It will help save you time to make sure you always get into a trade if you use templates
Click Here: Learn how to set up ATM Strategy Templates for NinjaTrader Charts
Third, I want to lock in profit with my stop loss when I fill my first profit target, so here’s how to set that up.
Click here: learn how to set your trailing stop for Ninjatrader charts
I also want to remind you that these are only the basics for setting this up.
If you are looking for the SPECIFIC parameters we use in our day trading chat room, come join as a member or simply log into your Advanced Course for more information on the specifics we use in our successful day trading methods.
Skype: SOTSales
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