Trade Management: How to handle a Tricky Trade (and earn a Good Profit)

Trade Management: How to handle a Tricky Trade (and earn a Good Profit)

Trade Management: How to handle a Tricky Trade (and earn a Good Profit) 300 169 Minimalist Trading – Best Trading Indicators for TradingView

When it comes to Trade Management, especially during a Tricky Trade, is not always easy.

Sometimes it takes deploying a good amount of Trading Psychology.

Other times, like in today’s live trade on our TradingView chart, it only takes a bit of Trade Management skills.

But don’t give up just yet.

Because learning How to Handle a Tricky Trade is simple!

And earning a good profit out of it is not difficult either.

The Trading Indicators are confirming an interesting opportunity that totally fits into our Forex strategy so we get involved in this trade.

Trade setup – 21 Jun 2019

Learn how to handle a tricky trade Setup 1

We have a clear buy opportunity on AUDUSD which is confirmed by all our trading indicators, in fact we have:

    1. A higher bottom (displayed by the Bottoms Tops Signal)
    2. A higher low in the RSI Exhaustion (it is rising, just like the price)
    3. Bearish exhaustion in the RSI Exhaustion (it is colored red)

Moreover, once we calculate our target, by projecting our impulse to the upside, we realize that ends up pretty much at the same level of a major resistance displayed by the Levels and Zones indicator.

This is a further confirmation that we have a high probability trading setup, the ones that we always look for.

Trade update – 24 Jun 2019

Learn how to handle a tricky trade Setup 2

The price rapidly moved higher about halfway into the target and then formed a top, signaled by the Bottoms Tops Signal.

As of now, it’s not a big issue but since we are pretty far away from the target, we must pay close attention.

Trade update – 25 Jun 2019

Learn how to handle a tricky trade Setup 3

The price is now slightly higher but formed another top, and the RSI Exhaustion is moving lower.

We should still expect the upward movement to ultimately reach our target.

But the current price action is a bit concerning and since we must always preserve the trading account, we decided to move the stop-loss to breakeven.

One of the best Trade Management Secrets that we learned over the years is to always play safely!

Of course, this was also possible by the fact that we are now pretty far away from the entry point and so the price can still come down a little bit without closing the trade.

Trade update – 26 Jun 2019

Learn how to handle a tricky trade Setup 4

The price is trying to move lower but, at the same time, it is “attracted” by the resistance, which is our target.

We say “attracted” because we know from years of experience trading with the Levels and Zones that, once those major levels appear, the price likes to test and retest them multiple times.

For the sake of safety, since this became a rather Tricky Trade, we moved the stop-loss a bit higher.

Again, when it comes to Trade Management, remember to always play safely!

Trade update – 26 Jun 2019

Learn how to handle a tricky trade Setup 5

The price almost reached the target and then retraced a bit.

At that level, too many beginners got emotional and started cashing-in their profits.

We did not, because we have confidence in the setup, and so we simply wait for the target to be reached.

Trade closed – 27 Jun 2019

Learn how to handle a tricky trade Setup 6

And eventually, the price reached our Trading Target!

The trade started as any other regular trade, but then it turned into a rather Tricky Trade.

However, this is not the first time we are faced we the issue of Trade Management during a Tricky trade.

So we just played safely and maintained full rationality.

Even if some contrary signs appeared, we continued to track the price action by moving our breakeven level up.

Like in many other cases, the price ultimately reached our target for an almost 4x profit!

What about you!

How are you at Trade management?

Did you have any particular good or bad experience recently?

Feel free to share it with fellow traders by leaving your comment on the YouTube video above!