- [Identify edges objectively.]
- [Calculate risk for every trade.]
- [Accept the risk or reject the trade.]
- [Act on edges without hesitation.]
- [Take money off the table when it's available.]
- [Monitor susceptibility for errors.]
[Partial take profit reduces risk on the stop by that same proportion.]
[One hierarchy of stages for taking profit can be 1. initial moves in your favour; 2. support or resistance on a larger timeframe (with a move of your stop to the entry point); and 3. significant high or low on a larger timeframe.]
[Variables used to deal with market dynamics can go in and out of effectiveness as market participants and their interactions change.]
Tagged: trading.