Trade Management

Trade management is the entire process of monitoring and controlling a trade from the moment it is opened until it is closed. It includes setting stop-losses, taking profits, adjusting your position size, and monitoring the market conditions.

Trade management is where the real work happens. You can have the best trading system in the world, but if you don't manage your trades well, you will still lose money.

It is the part of trading that requires the most discipline and mental focus. As a trade progresses, you have to make decisions about whether to hold, adjust, or exit.

These decisions should be based on your pre-defined plan, not on your emotions. Good trade management is about being calm, methodical, and objective.

It is about letting your winners run and cutting your losses short. By mastering trade management, you turn the market's volatility into your own success.

It is a skill that you will be refining for your entire career.