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Hi
I have tow issues here and would need your clarification and explanation on how the money management works exactly as i have lost money just because of using it.
1. I use the esignal trade manager to put a short order through IB with money management planner. the trade was carried out successfully.
however when i decided to add on additional short positions (at a higher price) the trade was done with average price adjusted but the money management planner moves the stop which end up stopping me out. Is this how the money management planner works everytime you add a new position or am i missing something?
the second position i just do a short without the money management planner in the order box but it was operational. i guess the first trade money management planner was still operational?
Or should I set my profit targets and stops much further away before I add new positions so that when the money management planner settings come into play it would not accidentally stop me out again.
2. I put in a sell trade of bwa @ 43.29 with money management planner setting stops @45.85 and profit target @ 34.08. trade was done successfully. i had to adjust the stop loss up to the end of wave 4 and the profit target was also adjusted to my MOB. the reason i adjusted it was because the original money management setting were much closer.
however i was stopped out at 43.07 which i did not set. Can you please help me to resolve this issue as i am losing money just because of this technicalities and not my trading skills.
Appreciate your kind feedback on esignals money management planner functions or how exactly it works especially with new positions added after say the first trade.
I have tow issues here and would need your clarification and explanation on how the money management works exactly as i have lost money just because of using it.
1. I use the esignal trade manager to put a short order through IB with money management planner. the trade was carried out successfully.
however when i decided to add on additional short positions (at a higher price) the trade was done with average price adjusted but the money management planner moves the stop which end up stopping me out. Is this how the money management planner works everytime you add a new position or am i missing something?
the second position i just do a short without the money management planner in the order box but it was operational. i guess the first trade money management planner was still operational?
Or should I set my profit targets and stops much further away before I add new positions so that when the money management planner settings come into play it would not accidentally stop me out again.
2. I put in a sell trade of bwa @ 43.29 with money management planner setting stops @45.85 and profit target @ 34.08. trade was done successfully. i had to adjust the stop loss up to the end of wave 4 and the profit target was also adjusted to my MOB. the reason i adjusted it was because the original money management setting were much closer.
however i was stopped out at 43.07 which i did not set. Can you please help me to resolve this issue as i am losing money just because of this technicalities and not my trading skills.
Appreciate your kind feedback on esignals money management planner functions or how exactly it works especially with new positions added after say the first trade.