Trader Dale Volume Profile

BONUS: How I manage my intraday trades
Where to place your Stop-loss & Profit Target
My Profit Target is 10 pips, and my Stop-loss is 12 pips. I use this setting for all four major pairs
that I trade intraday (EUR/USD, AUD/USD, USD/CAD, USDJPY). The reasons for this settings are:
1. I like to be out of my trades quickly because the longer you have your trade open, the
higher the risk of something unexpected happening. It could be a change of market
sentiment or some other market-moving event like unexpected (or expected) news.
2. Another reason is that even if my trading level happens to be against a strong countertrend
move, a 10 pip correction is much more likely to occur than a 20 pip reaction (which
would basically be the end of that short-term trend). Today’s long on the USD/JPY shows
that perfectly:
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