QUOTE(mikeyjerou @ Jun 5 2012, 02:26 AM)
Once in the trade, scalpers should manage trading risks by:
1) moving stops to break-even as soon as situation permits;
2) taking profits at a logical levels: at round market price numbers: 00, 10, 20, 50 etc., at previous support/resistance levels, at Fibonacci levels etc.
3) getting out of the trade if the price freezes for longer time than expected.
I always make use of the previous Support and Resistance levels in the markets in order to set my Take Profits and Stop Loss.
This also gives me ideal trading setup where i am able to make most of the Profitable deals