Kitchen Sink

Everything else

Strategies Winning Percent Versus Risk Reward

Having studied many professional traders, I found another thing they held in common. Trade management. It was how they either scaled in or scaled out of their trades, and sometimes both in the same trade. By managing the risk, I’ve seen the pro’s make very good profits while being right less than 25% of the time. However they also balance that by letting the profits run whenever possible.

Strategies Winning Percent Versus Risk Reward

Thinkorswim Strategy Guide MTF

Thinkorswim Strategies Complex Stop Management

The other factor is the way Thinkorswim implements a Strategy. Everything is modular. You are able to use one piece of code for your long entries, another piece of code for your short entries, and then use entirely different pieces of code to manage the exits. It’s designed to let you mix them around like Lego’s.

Learning How To Trade

I have spent many years studying under various professional traders. Some are better teachers than others. And while I haven’t yet reached the Pro level myself, I have some advice which I hope will shorten your learning curve and smooth some of the speed bumps.