Courses › BLT | Bank Level Trading
The Boomerang Trade Management
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What this lesson covers
Trade management is what makes large winners possible, and this lesson argues it deserves the same rule based treatment as entries and exits. The techniques covered here are what allow you to hold a position through fifteen, twenty, thirty and at times fifty times your risk without the psychological pressure that normally forces an early exit. The core idea is that you need rules for everything, not only for where you get in and out. Rules for when to move a stop, when to take partial profit, when to leave a position alone and when a trade has stopped doing what you expected. With those defined in advance, holding a large winner becomes a matter of following a process rather than tolerating discomfort.