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Re: Position Management Strategies
Tin, once you're comfortable with 2 cars, you might want to consider the hubert-style keep it or cut it loose method with your runner. Let's say you're long and you exit at +15 and then the market runs another 50 ticks in your favour - you're going to want to kick yourself. So, when you get to +10 or +15, you make a decision based on internals, price, etc. Keep it or cut it loose, then do the same at the next logical point such as a pivot level, fib level, or other support/resistance level. This will help you let your winners run. In trading to really grow your equity, you need to let your winners run a bit if the market is allowing it. Hubert's got a video on this somewhere in his archive.
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