Martin Momentum Strategy - How I Enter & Manage Trades
Hello Traders,
In this video I wanted to cover what I’m looking at for trade setups and once I’m in a trade the steps I take to manage the trade.
So you are all aware of what to look for in trade setups so I won’t go into much detail in this post like I did in the video. So I’m going to jump right into the steps I take once I’m in a trade.
Trade Management & Alerts!
Once you are in a trade and you have either the long position or short position window on your chart.
Go roughly 50% of your TP and SL and over on the right side of the chart you can set an Alert to trigger once price crosses that price point.
When it does you will get an Alert telling price has crossed 50% of your TP or SL and that’s telling you to get in a manage that trade if you can.
By setting these alerts on each of your trades that allows you to not be glued to your screen. It allows you to go about your day with peace of mind knowing that no matter where the market goes you will know what’s going on with your trades.
Optional Tip
In your watch list window you have the option to flag pairs. I use 3 different flag colors mostly.
Red, Green, and Purple.
Red = This is for trades that I’ve got a open short position in.
Green = This is for trades that I’ve got a open long position in.
Purple = Possible trade setups forming and to keep a close eye on.
Hope this was helpful!
Make it a Great Day & Happy Trading!
~ SpiffyPips ~
This information is not a recommendation to buy or sell. It is to be used for educational and entertainment purposes only.
In this video I wanted to cover what I’m looking at for trade setups and once I’m in a trade the steps I take to manage the trade.
So you are all aware of what to look for in trade setups so I won’t go into much detail in this post like I did in the video. So I’m going to jump right into the steps I take once I’m in a trade.
Trade Management & Alerts!
Once you are in a trade and you have either the long position or short position window on your chart.
Go roughly 50% of your TP and SL and over on the right side of the chart you can set an Alert to trigger once price crosses that price point.
When it does you will get an Alert telling price has crossed 50% of your TP or SL and that’s telling you to get in a manage that trade if you can.
By setting these alerts on each of your trades that allows you to not be glued to your screen. It allows you to go about your day with peace of mind knowing that no matter where the market goes you will know what’s going on with your trades.
Optional Tip
In your watch list window you have the option to flag pairs. I use 3 different flag colors mostly.
Red, Green, and Purple.
Red = This is for trades that I’ve got a open short position in.
Green = This is for trades that I’ve got a open long position in.
Purple = Possible trade setups forming and to keep a close eye on.
Hope this was helpful!
Make it a Great Day & Happy Trading!
~ SpiffyPips ~
This information is not a recommendation to buy or sell. It is to be used for educational and entertainment purposes only.
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