Single Status Update
Hi Justin, hope you are well and nice to meet you! I am looking for an expert recommendation, hopefully you can help me!
I am working on ORB 1-min and ORB 5-min but I have some questions about a good practice for scaling out (partials). I have been looking at Andrew's trades, and his approach is very intuitive, first he takes his first partial 20-30 cents above the entry and then takes small partials of 10-15 cents. (i dont know what the scaling out percentage is)
My big question is if during momentum trading with big sizes, we will focus on gain some cents instead of target prices. for me is clear that we have to be careful about resistance or support levels, but I am not really sure if I should pay more attention in R instead of target prices. (for instance, if I get 2R, then I leave the trade).
Sorry for my broken english man, I hope to be clear!
Could you help me with your experience how can I manage it