Hello, traders. Before we begin, remember that Trading is risky. Any Trading that you’re doing is Risky Business. There are risks involved with any Trading you’re doing options, stocks, Forex. Talk to your broker to understand.
This video is a little different. The chart on the left is the trade scalper chart on the right is the new autopilot trading system. It’s a completely different methodology.
I’m showing you this because there is a long signal 3976 to go long on the trade scalper left chart. At the same time, I like to see a long on autopilot when we have multiple methods in the same direction,
so I’m going to take this 3976 long, and I also want to demonstrate what’s happening with the autopilot.
The autopilot is trying to take a trade, whether long or short, it’s trying, and it keeps on updating to see if we can get filled on these.
These signals either go long or going short. So it’s constantly trying, and now it’s long, the autopilot trading system on the right. It’s also long manually use the trade scalper. Looking at the Target, we’re thinking two and a half points. It made two and a half two and three-quarters of a point.
If you see the trade scalper, it’s already made the profit Target. It’s already made a Target. That means that if we’re trailing a stop and trying to hold on for a specific Target, we cannot let this, what you see here, move against us. So if you haven’t already gotten out of this trade or any trade that looks like this, don’t hold on to a trade exit, the trade, or move your stop.
So we are not going to lose anything on this trade. So the example here is to look at the trade scalper when you have a profit Target limit. The loss doesn’t do not allow that to go against you now on autopilot. The autopilot trading system does the same thing, but it’s automated. It’s automatic. There’s a break-even function that, once it goes in your favor, whether it be ten ticks, 20 ticks, 30 ticks, depending on the time frame you’re using, obviously a larger time frame. Like 20 minutes 15 minutes, you have a much larger profit with a smaller one minute.
This happens to be a thousand-tick chart on the autopilot trading system; once it moves in your favor, you’re going to have an auto break-even function, so this is important when it comes to Trading, whether it be manual or automatic Trading that once it Goes in your favor if you decide to pull the plug and take the profit and run great, but if you’re holding on for a much larger profit Target or you’re trailing a stop, don’t let that go against you, maybe a tick or two under where you entered.
That’s not the end of the world, but the idea here is we don’t want to lose money, and typically if it doesn’t make the Target in reverses, it will go against you. So, as a rule of thumb, I always tell everyone, if it goes in your favor and hasn’t made the target, don’t let that turn into a loss exit just under where you initially got in or use a break.
Even strategy like we do here with the autopilot trading system is, I think, really important as far as trade management. It’s not talked about a lot of trade management, and I want to focus on trade Management in this video, how you manage trades if they do not work. So you see, as an example, this trade here tried to go higher.
It’s trying to go to Target, and it’s turning around. If that comes back to where you entered, get out of the trade, close the position it tried; I mean, we’re talking two, three, four points in our favor. I think that’s more than enough to say it will continue, but don’t let this turn into a losing trade.
So a little bit of advice: the autopilot is new, and it has many new features. If you have any questions, visit daytradetowin.com to learn about the autopilot trading system. If you haven’t already picked up the trade scalper software, the trade scalper is still available at daytradetowin.com, and feel free to drop us a line.
Support at daytradetowin.com. I’ll see everybody in the next video. Take care now if you’re new to day trading and want to learn more about the benefits of Trading.
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