Trader Dale Volume Profile

Position management
In my opinion, the best place to quit your position early is exactly at the entry level (at Breakeven)
because the level usually works as a support/resistance zone.
If the price doesn‘t respect the level, goes past it and the level starts to work as a resistance zone
(when you are short) or as a support (when you are long), then it is a good idea to get out at BE
and look for the next setup. It is essential to get out exactly at BE. Usually, the reactions to the
volume-based levels are really precise so being greedy and not quitting the trade at BE would just
cause you to lose an opportunity to get out of a bad trade.
Also, such opportunities (to get out at BE), in my experience, don't last long. In fact, they usually
take only a few seconds or minutes. For this reason, it is best not to try to quit the position
manually, but to move your Profit Target order at the BE level so it gets triggered automatically.
Whether you will manage your positions this way or not is optional and solely up to you. It is not
a bad method but sometimes being patient with your position pays off more than trying to get
out of every second trade you enter. I was personally using this method few years but then I
decided I would simplify my trading. So, I stopped getting out of trades at BE and in most cases, I
hold my positions until the end no matter what happens.
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