P R E T T Y       P R O F I T A B L E       C O H O R T   6
A C O M P L E T E G U I D E

Risk & Trade Management

The math, the mechanics, and the mind that holds them together. Everything that happens between the click and the close.

How to read this guide

This is a guided walkthrough — built to be read in order, top to bottom.

What we're covering
Part One · The Foundation
  1. Why this lesson exists
  2. Tick value refresher
Part Two · The Two Numbers
  1. What is win rate?
  2. What is risk-to-reward?
  3. Why these two numbers go together
  4. The breakeven win rate cheat sheet
Part Three · Feeling the Math
  1. The fair coin (interactive)
  2. How often you'll lose (interactive)
Part Four · The Honest Risk Framework
  1. Why I don't teach the 1% rule straight
  2. The three honest questions
  3. The tiered risk framework
Part Five · Maya
  1. Meet Maya
  2. Stretch Maya (the prop firm version)
  3. Reverse Maya (when she breaks the rules)
  4. Build your own Maya (interactive)
Part Six · Trade Management
  1. The cardinal sin
  2. Where the stop goes
  3. The break-even move
  4. Trailing stops
  5. Partial exits
Part Seven · Daily Loss Limits
  1. The three-strike kill switch
  2. The recovery math
Part Eight · The Drill
  1. What would you do? (interactive quiz)
Part Nine · The Psychology
  1. Trading is a body activity
  2. The three states that cost you money
  3. The four protocols
Reference
  1. Final review quiz
  2. Cheat sheet
  3. Glossary
Part One
01
The Foundation
Before we touch a calculator or a coin, we need to know why this lesson exists and remember what each tick of the market is actually worth.
Chapter One

Why this lesson exists

Risk management gets taught wrong. It gets taught in formulas, with no acknowledgment of the human being on the other side of the chart. So women memorize the rules, sit down at their platforms, and abandon every single one of them by the third trade. Not because they did not understand. Because nobody told them what was going to happen in their bodies when they were down $80 with five minutes left in the session.

This guide is built around that gap. The math is simple, and we will cover it. But the real curriculum is what happens after entry. How you sit with a losing trade. When you move your stop and when you do not. What three losses in a row does to your decision-making, and what to do about it. How to take three trades a day, risking $50 each, and walk away with a real income.

If you leave understanding only one thing, let it be this: trade management is risk management. Where you place your stop is risk management. Whether you move it is risk management. Whether you take the next trade is risk management. The entry is a decision. Everything after is character.

You already know your entries from the strategy guide. You already know your order types. We are not relitigating that. We are spending the rest of this guide on the part most courses skip: what happens between the click and the close.

What you will be able to do by the end

By the time you finish this guide, you should be able to:

Chapter Two

Tick value refresher

You already know this. But when adrenaline is high, the math leaves the building. So we recommit it before we move on. Every other section of this guide depends on these two numbers being automatic in your head.

NQ · E-mini Nasdaq

$20

per point. One tick (0.25 points) = $5.

MNQ · Micro E-mini

$2

per point. One tick (0.25 points) = $0.50. One-tenth the heat.

Why MNQ exists

The micro contract is one-tenth the dollar value of the full-size contract. Same chart. Same setups. Same patterns. The only thing that changes is how much each point of movement costs you. A 25-point stop on NQ is $500 of risk. The same 25-point stop on MNQ is $50.

This is the contract that lets you learn without destroying your account. It is the contract you can size up and down on without committing capital you don't have. Anyone who tells you trading micros isn't real trading is somebody who confuses bravado with consistency. The goal is consistency.

A profitable trader on one MNQ contract becomes a profitable trader on five MNQ contracts becomes a profitable trader on one NQ contract. The strategy doesn't change. The discipline doesn't change. Only the size changes.
Part Two
02
The Two Numbers
Win rate and risk-to-reward. The entire foundation of trading math. Once you know these two terms cold, the rest of this guide is a victory lap.
Chapter Three

What is win rate?

Win rate is the percentage of your trades that close in profit. That is it. If you take 10 trades and 5 close as winners, your win rate is 50%. If you take 20 trades and 8 close as winners, your win rate is 40%.

The formula

Win Rate = Winning Trades ÷ Total Trades × 100

Why sample size matters

Win rate is a backward-looking number. You cannot know your win rate on a single trade. You can only know it after a sample of trades, ideally 30 or more. Anything fewer and the number is just noise.

If you take 5 trades this week and 4 of them are winners, your "win rate" is 80%. That means nothing. You could just as easily take 5 trades next week and lose 4 of them. Your win rate would then be 50% over 10 trades. Then 60% over 20 trades. Eventually, after 50-100 trades, the number stabilizes around your real win rate.

A   G E N T L E   T R U T H

A high win rate feels good. It does not always make money. You can win 70% of your trades and still lose money for the year if your losses are bigger than your wins. We are about to prove this with math. For now, just hold the definition: win rate is how often you are right, not how much you make when you are.

What a realistic win rate looks like

Most consistently profitable retail traders run a win rate between 40% and 60%. Anyone claiming a sustained 80%+ win rate is either lying, running a strategy that takes profit so early it barely makes money, or has a sample size of 12 trades and is about to find out.

For our setups (supply and demand with rejection candle entries), a healthy win rate is roughly 45-55%. If your win rate is in that range and your R:R is 1:2 or better, the math will take care of you. If your win rate is below 35%, your strategy needs work, not your sizing.

Chapter Four

What is risk-to-reward?

Risk-to-reward is the size of your potential win compared to the size of your potential loss on a single trade. We write it as 1:R, where R is how many times bigger your reward is than your risk.

How to read the ratio

The first number is always 1 — that's your unit of risk. The second number tells you how many units of that risk your reward is worth. A 1:2 means: for every $1 you're risking, you're trying to make $2.

SetupRatioWhat it means
Risk $50 to make $501:1Equal risk and reward. Need to win >50% just to break even.
Risk $50 to make $1001:2Reward is twice the risk. The Pretty Profitable standard.
Risk $50 to make $1501:3Reward is three times the risk. Lower frequency, higher conviction.
Risk $50 to make $251:0.5Reward is half the risk. A slow death no matter how often you win.

Where the numbers actually come from

Risk-to-reward isn't something you make up. It comes from the chart. The risk is the distance from your entry to your stop loss. The reward is the distance from your entry to your target. You measure them, do the math, and decide whether the trade is worth taking before you click anything.

An example with real numbers

You're looking at MNQ. Your demand zone is at 21,400. The chart structure tells you your stop has to go at 21,375 (below the zone). The next supply zone above (your target) is at 21,450.

That's a tradeable setup. If the target had been at 21,420 instead (only 20 points of reward versus 25 points of risk), you would have a 1:0.8 ratio and you'd skip the trade. The chart tells you the ratio. The ratio tells you whether to take the trade.

N O N - N E G O T I A B L E

If a trade doesn't offer at least 1:1.5, skip it. If it doesn't offer 1:2, you should have a really good reason to take it. The R:R is the first filter on every setup. Bad ratio, no trade. Doesn't matter how pretty the chart looks.

Chapter Five

Why these two numbers go together

Win rate by itself is meaningless. R:R by itself is meaningless. They only make sense as a pair. Here is the magic — and it's the single most important math in trading.

A 30% win rate at 1:3 R:R is profitable. A 70% win rate at 1:0.5 R:R is barely profitable. The two numbers multiply against each other. You do not have to be right often if your wins are big enough.

Let's prove it with two traders

This is the example that changes how women think about win rate forever. We're going to look at two traders. They both take 100 trades. They have the same dollar risk per trade. They feel completely different about their trading, and one of them is twice as profitable. Watch which one.

Trader A · "The Confident One"

She wins 70% of her trades. Every week feels like a winning week. She brags about her win rate in her group chat. But she takes profit too early. Her average win is $80. Her average loss is $100.

Math over 100 trades:
70 winners × $80 = $5,600
30 losers × $100 = $3,000
Net: +$2,600

Trader B · "The One Who Loses More Than She Wins"

She is wrong 60% of the time. Every week feels like she's failing. She gets discouraged. But her average win is $300 and her average loss is $100.

Math over 100 trades:
40 winners × $300 = $12,000
60 losers × $100 = $6,000
Net: +$6,000

Trader B is more than twice as profitable as Trader A, despite losing more trades than she wins. Her win rate feels worse. Her account is bigger.

Trader A is more popular on Instagram. Trader B is the one with the bigger account. The market does not care how often you are right. It cares about the size of your wins relative to your losses.

The expectancy formula

There's a name for the calculation we just did. It's called expectancy, and it's the number that tells you whether your strategy makes money over time.

Expectancy = (Win Rate × Avg Win)(Loss Rate × Avg Loss)

If the answer is positive, your strategy makes money over time. If it's negative, you're losing money no matter how good you feel about individual trades. For Trader A, expectancy is (0.70 × $80) − (0.30 × $100) = $56 − $30 = +$26 per trade. For Trader B, expectancy is (0.40 × $300) − (0.60 × $100) = $120 − $60 = +$60 per trade.

That's the real number. Trader B makes more than 2x per trade than Trader A, even though she's wrong way more often. The R:R does the heavy lifting. The win rate is a passenger.

Chapter Six

The breakeven win rate cheat sheet

Memorize this table. It is the cheat sheet that tells you, for any R:R, the minimum win rate you need just to break even. Anything above this line and you are profitable. Anything below it and you are losing money no matter how it feels.

The formula behind it

The breakeven win rate at any R:R is calculated as: 1 ÷ (1 + R). So at 1:2, that's 1 ÷ (1+2) = 1/3 = 33%. At 1:3, it's 1 ÷ (1+3) = 1/4 = 25%. You don't need to memorize the formula. You need to memorize the answers.

R:R RatioBreakeven Win RateWhat this means in practice
1:150%Break even before fees. Net negative after commissions.
1:1.540%Mildly profitable margin. Tight to maintain.
1:233%Comfortable margin. The Pretty Profitable standard.
1:325%Lower-frequency, higher-conviction setups.
1:420%Swing or high-conviction breakouts only.
1:517%Rare, multi-leg setups. Hard to find consistently.
At 1:2, you only need to be right 33% of the time to break even. That means you can be wrong 67% of the time and still not lose money. We aim for a 45-50% win rate at 1:2, which is actively profitable. This is why we do not chase setups with bad ratios.

How to actually use this table

You're going to use this table in two ways:

  1. Before a trade. Look at the R:R you're about to take. Glance at the breakeven win rate. Ask yourself: "Is my actual win rate comfortably above this number?" If yes, take the trade. If no, skip it.
  2. After 30 trades. Calculate your real win rate. Compare it to the breakeven for the R:R you're trading. If you're above, your strategy works. If you're below, your strategy needs adjustment. Adjust the strategy, not the sizing.
Part Three
03
Feeling the Math
Now that you know the math, you need to feel it. Two interactives to put it in your body before we get to the income calculator.
Chapter Seven

The fair coin · interactive

Before we touch a single income calculator, you need to feel something. Not understand. Feel. The math we are about to do later in this guide assumes you can sit through a losing streak without breaking. Most women cannot, the first time. Here is your first taste.

This is a fair coin. 50% odds, every flip. Below it, you're going to bet a hypothetical $50 on each flip. Heads pays you $100 (a 1:2 risk-to-reward ratio, which is the Pretty Profitable standard). Tails costs you $50. Mathematically, this is wildly profitable. It mirrors a clean trading strategy.

Flip it twenty or thirty times. Watch what happens to your gut when you hit four losses in a row. Watch what happens to the temptation to "just bet bigger this time."

I N T E R A C T I V E   ·   T H E   F A I R   C O I NTry it

Bet $50 to make $100. Flip until you flinch.

Heads = +$100. Tails = -$50. Equivalent to a 1:2 R:R trade with $50 risk. Click the coin or the flip button.

$
0
Flips
0
Wins
0
Worst Streak
Running total: $0
W H A T   T O   N O T I C E

Your first 5-loss streak will probably arrive within your first 30 flips. Your stomach will tell you the coin is broken. It is not. A 5-loss streak in a 50% game happens roughly once every 32 flips. You will see it. You will see it this year.

The trader who survives is the one who keeps betting $50 on the next flip, exactly the way she planned. Not $100 to make it back. Not $25 because she is scared. $50. Same plan. Different flip.

Chapter Eight

How often you'll actually lose

This is the section that changes how you think about losing streaks forever. Once you see how common 5- and 7-loss streaks actually are, the urgency to "fix" your strategy after a bad week disappears. A bad week is statistically expected. Your job is to be sized so it doesn't matter.

The math of streaks

The probability of hitting a streak of N losses in a row is your loss rate raised to the power of N. If your loss rate is 50% (because your win rate is 50%), the probability of 5 losses in a row is 0.5⁵ = 0.03125, or about 1 in 32 trades. The probability of 7 losses in a row is 0.5⁷ = 0.0078, or about 1 in 128 trades.

Move the slider below. Pick your win rate and how many trades you take per month. Watch how often you should expect to see streaks of different lengths.

I N T E R A C T I V E   ·   S T R E A K   F R E Q U E N C YDrag the sliders

What's normal for your win rate

A 5-loss streak feels unusual. A 7-loss streak feels like proof you're broken. You're not broken. You're statistically average.

Your Win Rate
50%
Trades Per Month
60
3-Loss Streak
5-Loss Streak
7-Loss Streak
H O W   T O   R E A D   T H I SFrequencies are how often, on average, a streak of that length appears. If your win rate is 50% and you take 60 trades a month, a 5-loss streak shows up almost every other month. This is normal. This is not a sign your strategy is broken. It is the statistical reality of a 50% strategy.
If a 5-loss streak ends your account, your sizing is wrong. If a 5-loss streak ends your week emotionally, your sizing might be right but your psychology is the problem. Both have to be addressed.
Part Four
04
The Honest Risk Framework
Why the textbook 1% rule breaks for real women trading real prop accounts, and what we actually do instead.
Chapter Nine

Why I don't teach the 1% rule straight

The 1% rule says risk 1% of your account per trade, no exceptions. It is the most-quoted rule in trading, and on its face it makes sense. The math behind it is the math of catastrophic losing streaks: if you risked 1% per trade and lost 100 trades in a row, you would still have 36% of your account left.

But here is the part nobody says out loud. Nobody is losing 100 trades in a row. If you are losing 100 trades in a row, your strategy does not have a flaw, your strategy is the flaw. You would have stopped at trade 12, not trade 100. The 1% rule is calibrated for a worst-case scenario that the strategy itself rules out.

The reality on a small account

On a $50,000 prop firm account, 1% is $500. On a $5,000 personal account, 1% is $50. That sounds clean. But here is the reality on a $5,000 account at $50 per trade:

For a woman who has childcare to pay and student loans to pay and a real life happening, $1,000 a month feels insulting next to the time she is putting in. So she abandons the rule on day three and goes to $500 per trade because $1,000 felt like nothing. And then she blows the account on a single bad week, because 10% per trade on a $5K account means three losses takes her down 30%.

The textbook answer is risk 1%. The honest answer is risk an amount that lets you survive a normal losing streak without panic. That number depends on your strategy, your win rate, and your psychology — and for most women on a real account, it sits somewhere between 1% and 10%.
Chapter Ten

The three honest questions

Real risk management isn't built around a single percentage. It's built around three honest questions you ask yourself before you ever click a trade.

1

What is a normal losing streak for your strategy?

If you have a 50% win rate, you will hit a 5-loss streak roughly once every 32 trades. You will see one. You will see it this year. Plan for it now, not when it happens. Multiply your per-trade risk by your expected streak length. That's your real exposure on a bad week.

2

How much can your account take from that streak before you panic?

Not before it goes to zero. Before you panic. Once you panic, you start revenge trading, and the account does go to zero. The number where you start panicking is the real cap. If a 5-loss streak puts you down $500 and that makes you sick, your per-trade risk is too high. Cut it in half.

3

How much do you actually need to make per month for this to feel worth it?

If you need $2,000 a month and you are sized so small that even a great month produces $400, you will quit the strategy or break the rules. Both are bad. Size has to match expectation. If your sizing can't realistically produce the income you need, you need a bigger account, not bigger risk.

Notice that all three questions point to the same place. Your real risk per trade is the smaller of: what your account can survive, what your nervous system can survive, and what your income goal can produce. If those three numbers don't reconcile, you don't have a sizing problem. You have an account-size problem or an expectation problem.

Chapter Eleven

The tiered risk framework

Here is what I actually tell my women, and what I want you to use instead of the 1% rule. Risk depends on which phase you're in and which type of account you're trading.

Account TypeReal Risk Per Trade
Personal capital, learning phase3–5% per trade. You're not trying to make money yet. You're learning without destroying your account. This is tuition, not income.
Personal capital, consistent phase5–8% per trade once you have a 90-day track record of profitability. You earned the right to size up because the data says you can.
Prop firm evaluation account2–3% per trade, but the real cap is the daily loss limit. If your DLL is 6% and you risk 3%, you have 2 strikes before violation. Stay closer to 2% if your DLL is tighter.
Live funded payout account1–2% per trade. This account is your golden goose. You do not risk your golden goose for a faster month.

How to find your number

Start at the high end of the range for your phase. Trade for a week. Notice how you feel during a normal trade and during a losing streak. If your nervous system is calm, you can stay there. If you're checking the chart obsessively or sleeping badly, drop to the low end of the range.

Your real risk number is the largest amount you can lose on a single trade without it affecting your decision-making on the next trade. That's the only definition that matters.

What to actually do this week

  1. Write down your account size. Personal account, prop firm, both. Whichever one you're trading right now.
  2. Pick your phase. Are you learning? Consistent (90+ days profitable)? On a funded payout account?
  3. Calculate your real risk per trade. Take the percentage from the table for your phase, multiply by your account size.
  4. Tape the number to your monitor. Literally. A sticky note. "Max risk per trade: $X." That's your hard cap. Never exceed it. Ever.
Part Five
05
Maya
The story that proves you do not need to be trading 5 contracts to be making money. We're going to build her income three different ways.
Chapter Twelve

Meet Maya

This is the moment that changes how you think about income. Maya is composite. She is dozens of women in our community right now. Here are her exact numbers.

M
Maya · MNQ trader
$5,000 personal account · 1 micro contract · trades 9:30–11:00 AM
RULES
She has a 50% win rate. She uses a 1:2 risk-to-reward ratio. She takes 3 trades a day. She risks $50 per trade. She trades 4 days a week, Monday through Thursday.
A WIN
When she's right, she makes $100. (1:2 ratio on $50 risk.)+$100
A LOSS
When she's wrong, she loses $50. Stop hits, she's out. No drama.−$50
MONTHLY
3 trades × 16 days = 48 trades a month. At 50%: 24 wins, 24 losses.

The math, walked through slowly

Wins

$2,400

24 winners × $100

Losses

$1,200

24 losers × $50

M A Y A ' S   M O N T H L Y   N E T
+$1,200
On one micro contract. Risking $50 per trade. Trading 90 minutes a day, four days a week.
That's $14,400 a year. From a $5,000 account.
Maya is risking $50 per trade. That is the price of a nice dinner. She is not sizing into 10-contract positions. She is not on margin. She is not stressed. And she is making $1,200 a month from MNQ.
Chapter Thirteen

Stretch Maya · the prop firm version

Same Maya. Same 50% win rate. Same 1:2 ratio. Same 3 trades a day. But now she is on a $50,000 prop firm account and she is risking $500 per trade. That's just 1% of the account — conservative for a funded trader, and right at the floor of the framework we just built.

The math

S T R E T C H   M A Y A ' S   M O N T H L Y   N E T
+$12,000
$24,000 in wins minus $12,000 in losses.
This is what 1% risk looks like on a funded account with a real strategy.

This is the slide that lands. Once a woman sees that she can make $12,000 a month risking just one percent on a funded account, the obsession with sizing up disappears. The discipline becomes the asset.

N O T I C E

Stretch Maya is making 10x what regular Maya makes. She didn't do anything different. She didn't change her strategy. She didn't increase her win rate. Her account size grew. Her dollar risk grew proportionally. Her income grew with both. This is why prop firm funding matters. Same trader. Bigger sandbox.

Chapter Fourteen

Reverse Maya · when she breaks the rules

Same 1:2 ratio. Same 3 trades a day. But Maya just took a loss and she is angry. She tells herself she's going to "double her income" by sizing up to $1,000 per trade instead of $500. And here's the part everyone skips: she also stops waiting for clean setups. She forces entries. She takes marginal trades just to be in the market. Her win rate craters from 50% to 30% because the trades aren't real setups anymore. They're feelings.

The math, on paper

This is where Maya thinks she's being smart. She does the calculation in her head assuming her win rate stays the same. It does not. Here's the real math when revenge sizing meets revenge entries.

And that's the best case. That's assuming she even survives the month without hitting her daily loss limit. She won't.

What actually happens

Here's what really plays out. The daily loss limit on a $50K prop firm account is typically 3%, which is $1,500. At $1,000 risk per trade, two losing trades blows past that limit. She is one and a half losses away from violation on every single trading day. And at a 30% win rate, losing streaks are no longer rare — a 5-loss streak now happens roughly once every 6 trades, which means at least once a week.

R E V E R S E   M A Y A ' S   A C T U A L   M O N T H L Y   N E T
−$50,000
The full account. Lost in a single bad week.
Plus the cost of every evaluation she has to keep buying.
The slow money compounds. The fast money evaporates. This is not a metaphor. It is the literal math of a hundred women who have come through this program. The ones who took it slow are still here. The ones who chased size are not.

Why doubling your size never doubles your income

Maya thought she was doubling her income. She did the math assuming her win rate stayed at 50%. But you cannot revenge-size without revenge-trading. They come together, every time, because the same emotional state that makes you click "1,000" instead of "500" is the same state that makes you take a setup that doesn't actually exist.

Bigger size triggers a bigger nervous system response. A bigger nervous system response leads to looser entries. Looser entries crater your win rate. A cratered win rate at any size is a losing strategy. And at $1,000 per trade on a $50K account, the daily loss limit is so close to your per-trade risk that one bad afternoon ends everything.

The $12,000/month version of Maya is the one you actually achieve. The $24,000/month version exists only in spreadsheets, never in real accounts. The actual outcome of trying to chase the spreadsheet version is the −$50,000 version. Plan around what your psychology can sustain, not what the math says is theoretically possible.

Chapter Fifteen

Build your own Maya

Now do this for yourself. Be honest about your win rate. Aspirational numbers will lie to you. Use the win rate from your actual track record, or 45% if you don't have one yet.

I N T E R A C T I V E   ·   B U I L D   Y O U R   S C E N A R I OCalculate live
Y O U R   M O N T H L Y   N E T
+$1,200
— wins × $— minus — losses × $—
A   G E N T L E   W A R N I N GIf your number came back negative, the issue is one of three things: your win rate is too low for your ratio, your ratio is too tight for your win rate, or you need to trade more selectively. It is almost never a reason to risk more per trade. Risking more does not fix bad math.

Three things to try with the calculator

  1. Find your minimum viable win rate. Drop your win rate by 5% at a time. Watch when your monthly net goes negative. That's your floor — above it, you're profitable. Below it, you're losing.
  2. Compare 1:1.5 vs 1:2 vs 1:3 at your win rate. Keep everything else constant. Watch how much your income changes. This is why obsessing over R:R matters more than chasing win rate.
  3. Find the sweet spot for your account size. Adjust the dollar risk to whatever feels safe (the answer to your "honest risk" question from Part Four). See what monthly income that produces. Decide if it's enough. If not, you need a bigger account, not bigger risk.
Part Six
06
Trade Management
The longest part of this guide and the most important one. What happens after the click. Stops, breakeven, trailing, partials, and the cardinal sin that ends more accounts than bad strategy ever has.
Chapter Sixteen

The cardinal sin

T H E   F I R S T   R U L E   ·   N O N - N E G O T I A B L E

You do not move your stop loss farther away from price. Ever.

Not for any reason. Not because you are sure it will turn around. Not because the news comes out in five minutes. Not because you want to give it room. Every time you move a stop farther, you are admitting your original analysis was wrong, and choosing to make the loss bigger instead of accepting it.

This is the cardinal sin. It is how accounts die. Every other rule in this guide depends on this one.

Why women do it (so you can recognize when you're about to)

Moving a stop farther away feels rational in the moment. Your brain tells you: "the trade just needs more room," "the market is being noisy, the move is still valid," "I can see it's about to reverse." None of those are real signals. They are the voice of an unwilling-to-be-wrong nervous system.

The cost of accepting a small loss is uncomfortable. The cost of refusing to accept it is catastrophic. We trade the small certain pain for the large uncertain pain because the large one feels far away. It is not far away. It is the next 15 minutes.

The only direction a stop ever moves

Once your stop is set, it can only ever move in one direction: closer to (or past) your entry. That's it. That's the only legal move.

Chapter Seventeen

Where the stop goes

The stop loss goes where the chart tells you it goes, not where you wish it would go. It goes beyond the structure that, if violated, means your trade idea is wrong.

The four most common stop placements

1

Past the supply or demand zone

For a long off a demand zone, your stop goes below the zone's bottom. For a short off a supply zone, it goes above the zone's top. The zone is the structure. If price closes through it, your trade thesis is invalidated.

2

Past the rejection candle's wick

If you took the trade on a rejection candle, your stop goes just past the wick of that candle. Below the low for a long. Above the high for a short. The wick is the boundary the market already showed you it doesn't want to cross.

3

Past the recent swing high or low

For longs, the stop goes below the most recent swing low. For shorts, above the most recent swing high. This works especially well on continuation trades where you don't have a fresh zone.

4

Whichever of the above gives more breathing room

If your zone is 25 points away but your rejection candle wick is only 12 points, use the zone. The wider stop respects normal market noise. Never use the tighter option just because you want a bigger position size. The chart picks the stop, not your sizing wish.

The stop is set at entry. Always.

The moment you are filled, the stop is in. It is not optional. It is not delayed. It does not get "placed in a minute." It is in.

If the stop the chart wants is too far away to fit your dollar risk, the trade is not for you. Skip it. Never resize the stop to fit your risk. Either resize the position to fit the stop, or skip the trade entirely.

T H E   T H R E E - W A Y   D E C I S I O N

When the chart's stop is wider than your risk allows, you have three options: (1) trade fewer contracts so the dollar risk fits, (2) skip the trade, or (3) wait for a tighter setup at the same zone. You never have a fourth option of "use a tighter stop than the chart wants." That option doesn't exist.

Chapter Eighteen

The break-even move

Once a trade has moved in your favor by an amount equal to your initial risk (1R), you have the option to move your stop to your entry price. Once you do, the worst-case outcome is you exit flat. The trade has zero risk.

The mechanics, with numbers

You entered MNQ long at 21,400 with a stop at 21,375 (25 points = $50 risk on 1 MNQ). Price moves up to 21,425 — that is 25 points in your favor, exactly 1R.

You can now move your stop from 21,375 up to 21,400. If price reverses, you exit at break-even with zero loss.

When to actually do it

This is where most beginners ruin themselves. They move to break-even too fast. They get tagged out on a normal retest. The trade then runs to target without them.

SituationWhat to do
You're up 1R AND price has broken a clear technical level beyond your entryMove to break-even. The technical break confirms momentum.
You're up a few points and you're nervousDo not move to break-even. Markets retest entries constantly. You'll get tagged out of 70% of your good trades.
You're at 1R but no technical level has brokenConsider taking partial profits instead. Now your remaining contracts run on house money.
Day trade hitting target in 30–60 minSometimes the cleanest play is to never move the stop at all. Set it. Set the target. Let it resolve.

The two reasons women move to break-even too early

  1. They want to feel safe. Once the stop is at break-even, the trade can't lose. Brain calm. But brain calm is not the same as trade quality. The trade is the trade. Your nervous system isn't part of it.
  2. They had a bad experience watching a winner reverse. One trade went from +$300 unrealized back to a loss. Now they're traumatized into moving every stop to break-even at +$10. The fix isn't tighter stops. It's accepting that some winners give back. That's the cost of letting winners actually run.
A trade that gets tagged out at break-even and then runs to target without you is not "the system protecting you." It is a system that was tightened too early. The discipline is to let the trade work.
Chapter Nineteen

Trailing stops

A trailing stop is a stop that moves in the direction of your trade as price extends in your favor. It only moves one direction. It locks in profit on a runner. It is a more advanced tool than break-even and it is most useful on trades you are letting run for longer than your typical day-trade window.

The three common ways to trail

1

Fixed-distance trail

The stop sits a fixed number of points behind price. As price climbs, the stop climbs with it. If price falls, the stop holds. Simple and mechanical. Best for clear trends. Example: 15-point trail on MNQ. Price at 21,425, stop at 21,410. Price moves to 21,440, stop moves to 21,425. Price reverses to 21,425, stop holds, you exit there.

2

Structure-based trail

Every time price makes a new higher low (long) or lower high (short), you move the stop just past that swing. Respects market structure. Requires more screen time and more chart reading. Example: Long. Price puts in a higher low at 21,420. Move your stop to 21,418. Price extends, makes another higher low at 21,438. Move stop to 21,436.

3

Time-based or momentum-based trail

You tighten the stop as the trade approaches your target or as momentum slows. The most discretionary, the most experience-dependent. Example: You're 80% to target and the candles are getting smaller and overlapping. You tighten the stop closer to lock in most of the move because momentum is fading.

Fixed targets vs. trailing: which to use

Backtests on the indices show that for day trading specifically, fixed targets outperform trailing stops in the majority of strategies. The reason: noise. Day-trade timeframes are full of small reversals. A trailing stop will tag you out on a normal pullback that the trade was always going to recover from.

For swing trading and longer holds, the data flips: trailing stops outperform in roughly 70% of swing strategies because the move is big enough that the trail can capture extension.

M Y   H O N E S T   R E C O M M E N D A T I O N

Use fixed targets for the first six months. Period. Trailing stops are a tool you graduate into. They reward patience and active management, and beginners do not have the rep yet to know what is a real reversal versus a normal retest. Set the stop, set the target, let it resolve. When you have 100+ trades of data and you can read momentum in your sleep, then add trailing as a tool.

If you are taking 3 trades a day and exiting at fixed targets, you are running a system. If you are trailing, adjusting, second-guessing, you are running a feeling. The system makes money. The feeling does not.
Chapter Twenty

Partial exits

A partial exit is when you take profit on part of your position before the full target is hit. This is a powerful tool for women who struggle psychologically with watching winners turn into losers. It also helps when you can't decide between conservative and aggressive targets, because partials let you have both.

How a partial works

You're long 4 MNQ contracts. Target is 60 points away. At 30 points (halfway), you close 2 contracts. You've locked in $120 of profit. The remaining 2 you let run to the full 60-point target.

The psychological power of the partial

The partial is the antidote to the most common trading regret: watching a winner turn into a loser. Once you've taken the partial, the trade has a floor. The brain calms. You can let the runners actually run because you're no longer afraid of giving back the whole win.

For women who tend to take profit too early (and there are many of you), partials let you build the muscle of letting trades run while still locking in gains. Over time, you may find yourself taking smaller partials and letting more contracts run. That's the graduation.

I M P O R T A N T

Partial exits only make sense on multi-contract positions. If you are trading 1 MNQ, you cannot partial. You are in or out. Do not let any course or coach convince you to trade more contracts than your sizing supports just to enable partials. Partials are a feature of correct sizing, not an excuse to size up.

The right partial split

The most common split is 50% off at 1R, 50% runs to target. That gives you a guaranteed +0.5R locked in even if the runners hit stop, and a full +1.5R if everything works.

Some traders prefer 33% / 33% / 33% — partial at 1R, partial at midway to target, last third to target. More mechanical. More chances to lock in. Smaller individual partials. Both are valid. Pick one and stick with it; don't switch mid-trade.

Part Seven
07
Daily Loss Limits
Why prop firm rules exist, why the three-strike kill switch is non-negotiable, and the math of recovery that makes you respect a small loss.
Chapter Twenty-One

The three-strike kill switch

Most prop firms cap your daily loss at 2-3% of account size. New traders see this as a restriction. It is not. It is a structural protection that saves you from the worst version of yourself.

What happens without a kill switch

You take three losing trades. You're tilted. You convince yourself the next one is the one that brings it back. You size up. You lose again. Now you're down 6% on the day and you cannot stop because stopping would mean accepting the loss. You take a wild trade trying to hit a home run. You lose 10% in an afternoon.

Every prop firm trader who has been at this for a year tells the same story. The daily loss limit is what saved her. She did not have to fight herself, because the rule fought for her.

T H E   T H R E E - S T R I K E   R U L E

Three losses in a row, you are done for the day. No matter how good the next setup looks. No matter how close you are to the target. Three strikes, walk away. Tea. Pilates. Walk the dog. Come back tomorrow. The market will be there. Your account will only be there if you stop yourself.

Why three?

Because a 5-loss streak in a 50% strategy happens almost every other month. Three losses is the early-warning system. It is far enough in that it is unusual. It is also early enough that the account is still healthy. Walking away after three preserves you. Pushing through three is how three becomes seven.

How to enforce it on yourself

  1. Make it a written rule. Not a thought. Not an intention. Written. Sticky note on the monitor. "After 3 losses, platform closes."
  2. Tell a trading buddy. Accountability is real. Send her a screenshot every time you hit three losses and walk away. She does the same for you.
  3. Use platform tools. Most platforms have daily loss limits and lockout features built in. Set them. Once it's hit, the platform won't let you trade again until tomorrow. Remove the option to override yourself in the moment.
  4. Have a "what I do instead" plan. If the answer to "what do I do after three losses?" is "sit at my computer and feel terrible," you'll trade. Have a plan: walk, call a friend, take a Pilates class. Make the off-ramp better than the on-ramp.
Chapter Twenty-Two

The recovery math

This is the section that sobers the room. The math of recovery is not symmetric. Every dollar you lose costs more than a dollar to earn back, in percentage terms.

If your account drops byYou need this gain to break even
Lose 5%Need 5.3% gain
Lose 10%Need 11.1% gain
Lose 20%Need 25% gain
Lose 30%Need 42.9% gain
Lose 50%Need 100% gain to recover
Lose 75%Need 300% gain

Why the math is asymmetric

If you have $10,000 and you lose 50%, you have $5,000 left. To get back to $10,000, you need to make $5,000 from a base of $5,000. That's a 100% return. Losing half takes you to half. Doubling half takes you back to whole. The downside arithmetic and the upside arithmetic are calibrated against different starting bases.

This is why drawdowns are so much more dangerous than they look. A 30% drawdown sounds manageable. The 43% return required to recover it is not manageable. Most retail traders never recover from 30%+ drawdowns because they would have to dramatically out-perform their normal monthly return for months in a row, with no further losses, just to break even.

The reason we are conservative is not because we are afraid. The reason we are conservative is because the math punishes recklessness disproportionately. A 50% account drawdown takes a 100% return to recover. There is no faster way to lose a year than to have a single bad day.

The connection to everything else in this guide

This is why the 1% rule exists, even though I argued against teaching it straight. This is why the three-strike kill switch is non-negotiable. This is why we cap risk per trade at small percentages of the account.

Every rule we've covered exists to keep your drawdowns small. A small drawdown is recoverable in weeks. A large one is recoverable in years, if at all. The discipline of taking the small loss today is the discipline of keeping the year alive.

Part Eight
08
The Drill
Five real-time scenarios. Pick your answer before tapping reveal. The point is to surface your defaults so you can interrupt them in the moment.
Chapter Twenty-Three

What would you do?

Here are the five scenarios that come up in real trades, every week. Read each one. Pick your answer before you tap reveal. There are no perfect answers — the point is to surface your thought process so you can recognize the pattern in real time.

S C E N A R I O   1   ·   B R E A K - E V E N   T E M P T A T I O NPick one
You're long MNQ at 21,400 with a stop at 21,375 (25 pts of risk). Target at 21,450. Price is now at 21,420. You're up 20 points. Do you move your stop to break-even?
Correct: Hold the stop. You haven't earned 1R yet (you're at 0.8R). Markets retest entries constantly. If you move to break-even on every flutter under 1R, you'll get tagged out of the majority of your winning trades. The discipline is to let the trade work the way you designed it.
S C E N A R I O   2   ·   T H E   T A R G E T   A P P R O A C H E SPick one
Same trade. Price is now at 21,440. You're up 1.6R and the target is close. Do you move your stop now?
Correct: Move to break-even. You've earned more than 1R, and the target is close. Moving the stop to entry means the trade can no longer go red. If price reverses, you exit flat. If it pushes to target, you take the full win. This is the textbook moment to lock in zero risk.
S C E N A R I O   3   ·   T H E   R E - E N T R Y   T E M P T A T I O NPick one
You moved your stop to break-even. Price came back, hit it, you exited flat. Now price is reversing and going up again, looking like it's about to take off without you. Do you re-enter?
Correct: Only on a fresh setup. The stop-out closed that trade. The chase is not a trade — it's an emotion. If a new setup forms based on your actual rules, take it. If you're just trying to be in because you "should have been," walk away. This is where FOMO turns a flat trade into a losing one.
S C E N A R I O   4   ·   N E W S   R I S KPick one
You're long. Target is 5 points away. There's a major news event in 3 minutes that could move the market 50 points either way. What do you do?
Correct: Take the profit. Five points of additional upside is not worth news risk that could move 50 points either way. You don't trade news. You manage around it. If you got most of the trade, take it and reset. The market will be there in 5 minutes, and you'll be in profit instead of exposed.
S C E N A R I O   5   ·   T H E   C A R D I N A L   S I NPick one
Price is approaching your stop. Your gut is telling you it will reverse. You feel certain. Do you move the stop further away to give it room?
Correct: Take the loss. Moving the stop is admitting you do not trust your original plan. If you do not trust your plan, you should not have taken the trade. Your gut is not data. Your gut is a feeling. Every account that dies in this community dies because of this exact moment, multiplied across many trades. This is the cardinal sin. Today is the last time we even consider it.
A F T E R   T H E   D R I L L

How many of those did you get wrong on the first instinct? Be honest with yourself. Most women get at least two wrong the first time through. That's not failure. That's the curriculum. The point of these scenarios is to surface your defaults so you can interrupt them.

Re-read whichever ones you missed. Save this page. The next time you're in one of these moments live, your conscious brain has now seen this scenario before. You've already practiced the right answer.

Part Nine
09
The Psychology
Trading is a body activity. The math we just learned assumes you can sit through losing streaks without breaking. Here's how to actually do that.
Chapter Twenty-Four

Trading is a body activity

This sounds soft. It is not. Every decision you make on a chart is filtered through a nervous system that does not know the difference between "my MNQ trade is down $80" and "a tiger is in my kitchen." The same hormones flood your system. The same fight-or-flight response activates. Your prefrontal cortex — the part of your brain that does math and remembers your stop placement plan — goes offline.

This is universal human biology. Hedge fund managers experience this. Nine-figure traders experience this. The difference is they have built systems around it. You cannot will your way out of a nervous system response. You can only build protocols that make the response irrelevant.

What's actually happening in your body

When a trade goes against you, your amygdala (the threat-detection part of the brain) fires. It releases cortisol and adrenaline. Heart rate goes up. Pupils dilate. Blood diverts away from the prefrontal cortex (planning) and into the muscles (action). You literally cannot think clearly because the part of your brain that thinks is being underpowered.

This is why women say things like "I just blacked out and clicked." That's not an excuse. That's an accurate physical description. The conscious, rational, planning part of you was offline. Whatever did the clicking was a much older, much faster, much dumber part of your brain trying to escape a perceived threat.

You cannot stop your nervous system from responding. You can only design your trading so that when it responds, the damage is contained. The stop is set in advance because future-you is not the same person as right-now-you.
Chapter Twenty-Five

The three states that cost you money

Almost every losing trade you will ever take falls into one of three psychological states. Recognize them in real time and you will save more money than any new strategy ever could.

Revenge
You just lost. You're angry. You want it back, and you want it back now. You take the next trade with bigger size, looser entry, no setup. This trade has a 90% chance of losing because it was never a real trade. It was a feeling.
FOMO
Price is moving. You're not in. You feel like you're missing it. You enter without your setup, just to be in. The trade has no plan because there was no plan. You're buying a feeling, not a setup.
Hope
You're in a losing trade. The chart is telling you the trade is wrong. You're telling yourself "it will come back." You move the stop. The loss compounds. Hope is the most expensive feeling in trading.
If you can name the state you are in, you can break it. If you cannot name it, it runs you. The first skill of a trader is not chart reading. It is recognizing, in real time, which of those three states you are in.

How to recognize each one in your body

Each state has a physical signature. Once you know what to look for, you can catch yourself before you click.

StateWhat it feels like in your body
RevengeTight chest. Hot face. Hands moving faster than your thoughts. Urge to "DO SOMETHING."
FOMOStomach drop watching price move. Refreshing the chart compulsively. Brain saying "but I should be in this."
HopeHolding your breath. Staring at the chart willing it to reverse. Bargaining with the market. ("If it just gets back to break-even...")

The body always knows first. Your physical sensation will tell you which state you're in seconds before your conscious mind catches up. Train yourself to notice the body, and you'll catch the state before it catches you.

Chapter Twenty-Six

The four protocols

Knowing the states isn't enough. You need protocols to follow when they show up. Here are four. They are written in the order you'll need them in a trading day.

Protocol One · The pre-trade check-in

Before any trade, ask yourself three questions. Out loud, if you trade alone. Just to yourself, if you don't.

  1. Am I taking this because the setup formed, or because I want to be in? If the answer is the second one, do not take it.
  2. Have I already lost today, and is this trade an attempt to make it back? If yes, do not take it. Tomorrow exists.
  3. If I take this trade and lose the full risk amount, will I be okay an hour from now? If the answer is no, you are sized too big. Cut the size in half before entry, or skip the trade.

Protocol Two · The mid-trade reset

If you're in a trade and you feel your nervous system spike (heart rate up, tunnel vision, urge to do something, anything), here is the protocol. Do not deviate.

  1. Take your hands off the keyboard. Physically. The stop is set. The target is set. Your hands have nothing to do.
  2. Look away from the screen for 30 seconds. A window. A plant. Your dog. Your hands. Anything that is not the chart.
  3. Take three slow breaths. Four seconds in, six seconds out. This activates the parasympathetic nervous system and brings the prefrontal cortex back online. This is not woo. This is biology.
  4. Look back at the chart. Ask: "Has my setup actually changed, or am I just uncomfortable?" If the setup hasn't changed, do nothing. The trade was right. Your feelings are not the trade.

Protocol Three · The post-loss

You just took a loss. Here is what happens, in order, before you take another trade.

  1. Acknowledge it out loud. "I lost $50 on that trade. The setup did not work." Saying it neutralizes it. The unspoken loss is the dangerous one.
  2. Wait at least 15 minutes before the next trade. Not 5. Not 2. Fifteen. This is the window in which revenge trades happen.
  3. Re-read your trading rules. Literally read them. The act of reading re-centers you in the system.
  4. If you cannot stop thinking about the loss, you are done for the day. Not as punishment. As protection. You are not in a state to take another trade.

Protocol Four · The post-win (the one nobody teaches)

This is the one nobody teaches. Wins are dangerous. After a win, dopamine is high, you feel invincible, and you start to size up or take marginal setups because you are sure you cannot lose. This is how green days turn red.

  1. Acknowledge the win out loud. "I made $100. The system worked."
  2. Do not size up on the next trade just because you are up. Same size you planned this morning.
  3. If you are up two trades in a row, consider stopping for the day. Two wins is a great day. Do not let dopamine talk you into taking a third trade you would not have taken sober.
  4. At minimum, take a 20-minute break before the next trade. Same reason as a loss. Cool the system. The market is still there in 20 minutes.
Trading is not won at the chart. It is won in the chair, between the trades, in the seconds where you decide whether to follow the plan or follow the feeling. You will always have the feeling. Your job is to build a system that survives it.
Reference
10
Lock It In
A final review quiz, a printable cheat sheet, and a glossary of every term we used. If you can answer all six quiz questions without flinching, you're ready.
Final Review

Final review quiz

Six questions across everything we covered. Take your time, gworlz. We'll go over the answers as a class on Monday.

Q U E S T I O N   1   ·   T H E   T W O   N U M B E R SPick one
Trader A has a 70% win rate. Trader B has a 40% win rate. Without knowing anything else, who is more profitable?
Correct: Impossible to know without R:R. Win rate by itself is meaningless. A 70% win rate at 1:0.5 R:R is barely profitable. A 40% win rate at 1:3 R:R is very profitable. The two numbers always travel together.
Q U E S T I O N   2   ·   B R E A K E V E N   W I N   R A T EPick one
What's the breakeven win rate for a 1:2 risk-to-reward setup?
Correct: 33%. Formula: 1 ÷ (1 + R) = 1 ÷ 3 = 33%. At 1:2, you can be wrong 67% of the time and still break even. This is why we obsess over R:R.
Q U E S T I O N   3   ·   M A Y A ' S   M A T HPick one
Maya: 50% win rate, 1:2 R:R, 3 trades a day, $50 risk per trade, 16 trading days. Roughly what's her monthly net?
Correct: $1,200. 48 trades at 50% = 24 wins × $100 = $2,400. 24 losses × $50 = $1,200. Net = $1,200. On one MNQ contract, risking the price of a nice dinner per trade.
Q U E S T I O N   4   ·   T H E   C A R D I N A L   S I NPick one
Price is approaching your stop. You're convinced it will reverse. Which is the only acceptable action?
Correct: Let the stop hit. Moving the stop is the cardinal sin. It is how accounts die. Your gut is not data. Your original analysis said the trade was wrong if price hit the stop. Honor it.
Q U E S T I O N   5   ·   T H E   T H R E E - S T R I K EPick one
You've taken three losses in a row. The next setup looks like the cleanest one of the day. What do you do?
Correct: Close the platform. Three strikes is non-negotiable. Your gut telling you "this one is the one" is the same gut that told you the last three were the one. Walking away preserves the account. Pushing through is how three becomes seven.
Q U E S T I O N   6   ·   T H E   T H R E E   S T A T E SPick one
You're in a losing trade. You're holding your breath, staring at the chart, telling yourself "it will come back." Which state are you in?
Correct: Hope. Hope is the bargaining state. You're already in a losing trade and you're refusing to accept it. This is the state right before the cardinal sin (moving the stop). Recognize it. Let the stop hit. Live to trade tomorrow.
Y O U R   S C O R E
0 / 6
Pick an answer in each scenario above to see your score.
Reference

Cheat sheet

Everything in one place. Screenshot this before Monday. Tape it to your monitor.

Tick Values

  • NQ: $20/point · $5/tick
  • MNQ: $2/point · $0.50/tick
  • MNQ = 1/10 of NQ

The Two Numbers

  • Win rate = % of trades that close in profit
  • R:R = reward size ÷ risk size
  • Both matter. Multiplied = expectancy

Breakeven Win Rates

  • 1:1 → 50%
  • 1:2 → 33% (our standard)
  • 1:3 → 25%
  • Formula: 1 ÷ (1+R)

Risk Per Trade

  • Personal, learning: 3–5%
  • Personal, consistent: 5–8%
  • Prop firm eval: 2–3%
  • Live funded: 1–2%

Stop Loss Rules

  • Set at entry. Always. No delay.
  • Goes past the structure (zone or wick)
  • Never moves further away. Cardinal sin.
  • Can move closer (BE, trail, tighten)

Break-Even Move

  • Only after price moves 1R in your favor
  • AND a technical level has broken
  • Don't move on flutters under 1R
  • Day trade in 30-60 min? Often skip BE entirely

Trailing Stops

  • Fixed-distance, structure-based, momentum
  • Day trade: fixed targets win 60% of time
  • Swing: trailing wins 70% of time
  • First 6 months: fixed targets only

Partial Exits

  • Only on multi-contract positions
  • Most common: 50% off at 1R, rest to target
  • After partial: trade can't be a loser
  • Don't size up just to enable partials

Daily Loss Limits

  • 3 losses → walk away. Non-negotiable.
  • Use platform lockouts when possible
  • Have an "off-ramp" plan ready
  • Tomorrow exists. The market will be there.

Recovery Math

  • Lose 10% → need 11.1% to recover
  • Lose 30% → need 42.9%
  • Lose 50% → need 100%
  • Small drawdowns recover. Large ones rarely do.

The Three States

  • Revenge: hot face, urge to "DO SOMETHING"
  • FOMO: stomach drop, refreshing the chart
  • Hope: holding breath, bargaining with the chart
  • Name it to break it.

The Four Protocols

  • Pre-trade: 3 honest questions
  • Mid-trade: hands off, look away, breathe
  • Post-loss: 15-min cooldown, re-read rules
  • Post-win: same size, 20-min break, consider stopping
Reference

Glossary

Every term we used in this guide, in plain English.

Win Rate
The percentage of your trades that close in profit. Calculated as (winning trades ÷ total trades) × 100. Only meaningful over a sample of 30+ trades.
Risk-to-Reward (R:R)
The ratio of your potential reward to your potential risk on a single trade. Written as 1:R, where R is the multiple of your risk that your reward represents. A 1:2 means you're risking $1 to make $2.
Expectancy
The average dollar amount you make per trade over a large sample. Formula: (win rate × avg win) − (loss rate × avg loss). Positive expectancy means your strategy makes money over time. Negative means it loses, no matter how it feels.
Breakeven Win Rate
The minimum win rate you need at a given R:R just to break even. Formula: 1 ÷ (1+R). At 1:2, that's 33%. Anything above this and you're profitable. Anything below and you're losing.
1R
"One R" or "one R-multiple." Refers to one unit of your initial risk. If you risked $50, then 1R = $50 in either direction. Used to talk about trade outcomes in normalized terms ("the trade ran 2.5R" means it made 2.5× your risk).
Position Size
The number of contracts you trade on a given setup. Calculated as: dollar risk ÷ risk per contract. If you can risk $100 and each contract risks $50, you trade 2 contracts.
Stop Loss
The protective order that closes your trade for a loss if price moves against you. Set at entry, placed at the level where your trade thesis is invalidated (past the zone, past the wick, past the swing). Never moved further from price. Ever.
Break-even (BE)
Moving your stop loss to your entry price after the trade has moved 1R in your favor. Once at BE, the worst-case outcome is exiting flat. Only do this after price has both moved 1R AND broken a technical level.
Trailing Stop
A stop loss that moves in the direction of your trade as price extends in your favor. Locks in profit on a runner. Three types: fixed-distance, structure-based, momentum-based. Best on swing trades; often hurts day trades.
Partial Exit
Closing part of a multi-contract position before the full target. Most common split: 50% off at 1R, remainder runs to target. Only works on multi-contract positions; impossible on a single MNQ.
Daily Loss Limit (DLL)
The maximum amount you can lose in a single trading day before your account is suspended. Set by prop firms (typically 2-3% of account size). Also a self-imposed cap for personal accounts.
Drawdown
The decline from a peak in your account value to a subsequent trough. A 10% drawdown means your account dropped 10% from its highest point. Recovery from drawdown is asymmetric — the deeper you go, the harder it is to climb back.
Three-Strike Kill Switch
Our rule: after three losing trades in a row, you stop trading for the day. No matter how the next setup looks. The rule fights for you so you don't have to fight yourself.
Cardinal Sin
Moving your stop loss further away from price. The single most expensive habit in trading. Every other rule depends on never doing this. Ever.
Revenge Trade
A trade taken immediately after a loss, with the emotional goal of making the loss back. Almost always taken with looser entry, bigger size, and no real setup. Has a 90% chance of losing.
FOMO Trade
Fear of missing out. A trade taken because price is moving and you're not in, rather than because the setup formed. The trade has no plan because there was no plan.
Hope
The psychological state of being in a losing trade and refusing to accept it. The state right before the cardinal sin. Manifests as holding your breath, staring at the chart, bargaining with the market.
Slippage
The difference between the price you wanted on a market order and the price you actually got. Happens because by the time the order reaches the market, price has moved. Worse during news events and at session open.