Manage The Trade

Have you ever been on the right side of a market move only to find that you have eventually given back most or all of the unrealized or paper profits? Have you ever had a profitable trade turn into a loss? If so, it is a clear indication that you did not have a strategy to manage the trade. If a trade is initially successful, the professional trader will always have a specific and well defined plan to manage the trade. How, when and what market activity will be required to adjust the protective stop-loss will be planned in advance.