Risk Management with Profitable Patterns

Risk management is the most important success factor for your trading. For any trading strategy, you can not grow your capital without risk management. When you trade with Profitable patterns like harmonic pattern and elliott wave patterns and x3 patterns, this is not an exception.

Profitable Pattern Scanner is using the risk management concept with Pattern Completion Interval for your trading. Please make sure that you understand the role of Pattern Completion Interval and how it can help for your trading.

In Profitable Pattern Scanner, your stop loss and take profit is controlled for individual patterns. It is controlled per pattern. This is the main difference from Harmonic Pattern Plus and Harmonic Pattern Scenario Planner. Since Profitable Pattern Scanner have different categories of patterns like Elliott Wave patterns, Harmonic patterns and X3 patterns, you can apply different money management scheme if you wish.

To change your stop loss and take profit, scroll down in your input. Stop Loss = 1 means that it is size of 1 x Pattern Completion Interval Box. Take Profit = 2.5 means that it is size of 2.5 x Pattern Completion Interval.

Profitable Pattern Scanner provide all the historical patterns, helping you to tune your strategy. Hence, please test your strategy and change your stop loss and take profit according to your observation from your chart. We have already shown you how to test your strategy with Profitable Pattern Scanner in another article here.

https://algotrading-investment.com/2019/09/18/showing-historical-patterns-in-profitable-pattern-scanner/

Here is link the Profitable Pattern Scanner

https://algotrading-investment.com/portfolio-item/profitable-pattern-scanner/

https://www.mql5.com/en/market/product/41992

https://www.mql5.com/en/market/product/41993

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