≈ How to manage your orders in this market ≈

Traders,

There are many styles of trading including day, swing, and position.  Within those styles, one of the simplest and most powerful ways to trade is to find a directional (also called delta) entry point and play the bullish moves or bearish moves as opportunities arise. 

Within the STEP System course, you can learn how to play the four core tradable patterns including Bullish Breakouts, Bullish Retracements, Bearish Breakdowns and Bearish Retracements. 

STEP is an acronym that stands for Stop Loss – Target – Entry – Position Size.  Those 4 elements make up the basis of any trade and each one needs to be defined and executed within your rules. Stop Losses are one of the four components, and a critical piece for any trader to master. 

Where do you place your stop losses and why?  When you enter a trade, there are many ways to approach setting a stop loss.  As you manage a trade, you should also have the technique to be able to move and adjust stop losses as your trade develops.

Stop Loss management is a crucial skill for any trader, whether you are using Day, Swing or Position style trading time frames. 

Tonight, Coach Gino Poore is going to teach you how he sets stop losses in this marketplace.  We’re holding our weekly Special Webinar series on our YouTube channel. 

Join us live at 7 pm EST here: https://www.youtube.com/c/TackleTradingTeam

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Chart of the Day

AAPL Daily Chart

AAPL recently broke out of resistance and has moved to new highs.  A trader who plays a breakout like this would have triggered above the resistance upon confirmation, and also entered a stop loss and target to build their trading plan. Where you set each of these is important.  Stop losses manage your exit if the trade moves against you.

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Video of the day

How to buy a stock and Place a Simple Stop Loss

Coach Noah goes over a simple order to buy and how to place a stop loss once you purchase the stock. This video is perfect for individuals just starting out and want a tutorial on simple trade management techniques for your first trades.

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Traders Lounge 11 AM EST

Join the coaches in this live lounge, ask questions, discuss ideas or just sit back and listen to veteran traders discuss market conditions.

Coaches Show Replay

Halftime Report 12:30 PM EST

The Halftime Report starts at 12:30 EST and covers what news is driving the market, chart analysis from the movers and shakers of the day and fun in a way that only Matt and Tim can deliver.

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