FREE

Get The Ultimate Guide to Price Action Trading

  • How to decode what the markets are telling you so you can identify high probability trading setups—consistently and profitably
  • How to identify hidden strength and weakness in the markets so you can “predict” market reversals before the crowd
  • A simple trading strategy that allows you to profit in bull & bear markets (without any indicators)
__CONFIG_colors_palette__{"active_palette":0,"config":{"colors":{"62516":{"name":"Main Accent","parent":-1}},"gradients":[]},"palettes":[{"name":"Default Palette","value":{"colors":{"62516":{"val":"var(--tcb-color-0)","hsl":{"h":20,"s":0.99,"l":0.01}}},"gradients":[]}}]}__CONFIG_colors_palette__
Yes, Give it to me

When Should You Set Your Trades To Breakeven? 

 March 12, 2015

By  Rayner

In this video post I share with you on how I go about setting my trades to breakeven, using the structure of the markets.

I hope you have enjoyed this week’s video post. As always, comments are welcomed and encouraged. Cheers!

  • Rayner thanks for the video.

    I am getting good trades but only making 80-100 pips only, where I can get at least 1000 pips minimum. I think I know now how to hold the trade longer and shift the SL to BE when market structure change but not when I think comfortable.

    • HI Kam,

      You are welcome. Yes that’s right, get hold of your emotions and allow your profits to run.

      You will see beautiful things at the other side.

      Rayner

  • how long do u stay on a trade
    and how do u deal with swap.
    I stay long on a trade on my demo account but i usually get a negative swap and this affects my profit.

  • Hi Chio,

    I stay in the trade as long as i need to be and not a second longer.

    If price goes against me, i could be out in a day. If price move in my favor, i could stay in it for months.

    I ignore swaps because there will be both negative and positive in trade. So they usually net of each other.

    Rayner

  • Hey Ray,

    For instance, for a time like yesterday night/today morning (SG time), where any rate announcement (change or no change) would likely trigger stops within the 2 ATR range, does your strategy remain the same?

    Concern is the same for other volatile days where swings of 100+ pips in both directions could happen.

    Thanks

    • Hi Robert,

      Yes my strategy and stoploss remains the same. I don’t change it.. last night was one of those event that went against me and stopped me out.

      But likewise it could have went in my favor as well. I can’t predict so i just manage my risk and let the markets decide.

      Rayner

  • will you risk being in profit of 500+ pips and later losing it all just because you failed to trail your sl properly?

    gold is quite volatile when it wants to be. and it seems like you were up more than 500+ pips on that gold trade., but you didn’t trail your sl.

    what happens if the trade had retraced up, and broken through resistance to hit your sl.

    • Hi Chief,

      Pip is subjective because different markets have different volatility.

      I use R instead. I’ve had a few trades where the price went in my favor 2R and still stopped me out for a loss.

      Rayner

  • Hey rayner. Great video. Thanks for this!

    When would it be a good idea to begin pyramiding into your position? Would it be after trailing your stop loss to breakeven? Or do you generally just let the initial position run?

    • Hi Jeff,

      I generally look to scale in when I’ve got at least 3R in open profits. And I’ll scale in with a smaller position size on subsequent trades.

      Rayner

  • Very nice video. I am one of your strongest follower.

    I have a question. You always teach about NOT entering trades away from moving averages. Why did you enter so far from MA.

    • Hi Kumar,

      To be honest this would be a case of knowing when to bend the rules.

      Most of my trades are not too far from MA, but there are times I do enter even though when the market is far from MA. Especially in strong trending markets.

      Rayner

  • {"email":"Email address invalid","url":"Website address invalid","required":"Required field missing"}
    >