.
Just before data comes out
When you have hit your first target
Never
After 14:30
Exit unitended contracts immediately and notify your risk manager
If it is in profit, leave it
Make sure you have a stop loss for the same amount of contracts and leave it
Stop losses are the best way to manage risk on a trade by trade basis
When looking at a trade, the amount a trader risk should be less than the potential profit gained
Not using a stop loss is okay if you feel extremely confident about the trade
A is a resistance level and B is a support level
A is a support level and B is a resistance level
A
B
C
Fibonnaci
Pivots
Moving Average
Consolidation
Gap Fill
Breakout
Too long ago
Not near another support or resistance level
Has recently been chopped though
A
B
C
D
E
F
4:1
2:1
1:1
Only trade over the data if you are over $100 in profit
Only enter before the data if you are certain of the number coming out
Do your analysis on just a 5 minute chart
Don't trade if you would end up going over your limit, even if you are 100% sure
True
False
True
False
True
False
8.30am
9.30am
10.00am
11.30am
It is 8.25am and I get in the trade right now because Services PMI is not an important piece of economic data for the UK
It is 9.25am and I get in the trade right now because Services PMI is not an important piece of economic data for the UK
It is 9.25am and I wait for the data to be released before getting involved because the data could reverse my bias
It is 10.25am and I wait for the data to be released before getting involved because the data could reverse my bias
True
False
Option 1
Option 2
Option 3
Option 4