Trader Dale Volume Profile

BONUS: How I manage my intraday trades
Trailing your Stop-loss
The way that I protect profitable positions is rather straightforward and simple, as I believe this
is the key to being able to repeat the rules of your trading plan consistently. I secure my position
by moving my Stop-loss to the reaction point when I’m roughly 7 – 8 pips in profit. This is the
“neutral trade management“ style which I mentioned earlier in the book.
I also adapt securing my position to the current market behavior. It is a bit detailed but I want to
give you the full description of how I do things, so here it is:
If I trade against a strong trend I am much more careful and I secure my position in a more
conservative way. Generally speaking, I secure my position when I am 7 pips in open profit. The
reason is that it is quite dangerous to go against the trend and in such cases, it usually pays off to
be really careful and secure your position soon.
If I trade in a direction of a trend I can be more aggressive with moving of my SL. In this case, I
usually move my SL when my open profit is around +7.5 to +8 pips.
When there is no apparent trend I usually secure my position when it is +7.5 pips in open profit.
155