Learn to Trade Forex Online
This Price Action educational video shows Johnathon placing a live engulfing bar trade using only raw price data and support and resistance levels. The second part of the video is a recap of how this trade played out and how profit was taken to best maximise the return whilst keeping the risk to a minimum!
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Hi Johnathan
Great video as always – quick question though: how do you ‘lock in 50% profit’ from a technical perspective on MT4? E.g Are you selling half your position?
Many thanks
W
Hello Warren,
trade management is something we normally don’t go into too much detail outside of the members area, however your questions is a good one and the answer is; basically as you would know MT4 does not allow you to split pending orders once you are in a trade, for example; if you have a trade of $100,000 you are not allowed to set a pending order to take profit on only $50,000, you have to set a pending order to take profit on the whole $100,000 so what you do is before taking the trade is work out your trade and split your trade into positions. That way you can manage it and set different pending orders.
Johnathon
Thanks a bunch Johnathon for this great lesson, I’ve been longing for long to know exactly what are the engulfing bars and how I should trade with them,now I can proudly say I know what an engulfing bar is.
Your welcome George! Let me know if you need anything or if you get any questions!
Johnathon