E-Mini ES Live Day Trade & Trade Management Lesson

We had another great day in the live trade room today!

Did you know that new traders need a different trade management strategy than experienced traders?

Yes, thats because new traders have two simple goals:

– Consistency
– Confidence

Today we took some time to review the importance of using the correct trade management strategy, and we had a bonus when a live E-Mini ES trade happened right in front of our eyes!

You dont want to miss this video!

Why do we use such a tight target?

– We want to profit on the big and the small moves

– What if the market only goes 6 ticks in your direction?

o Is that a losing trade?

o No way!

– What if the big winners come? What if we get a 60-tick winner?

o We still use a tight first profit target

We then use a runner to catch the big moves!

o We never miss the big ones unless the market is very indecisive.

o Very choppy price action will bounce you out of some trades, but the good news is that it will help you profit from that small choppy movement, rahter than losing money getting stopped out.

Questions? Post them by clicking here!