From Screening to Trade Management

This tutorial covers the full trading lifecycle using Stein Investments tools: from finding opportunities to entering trades and managing positions until exit. Each phase uses a specific tool for its purpose.

Phase 1: Screening

Screening is about finding where the opportunity is before committing to a specific trade.

Currency Strength with FX Power NG

Open FX Power NG and scan for clear strength/weakness separation:

  1. Look at the panel or line chart in the subwindow
  2. Identify the strongest currency (top of the panel) and the weakest (bottom)
  3. Check the Delta between them - you want a value above 30 for a meaningful edge

If the lines are bunched together in the middle, there is no clear opportunity. Wait.

Calculation mode matters: Use H4 or H8 for day trading, D1 for swing trading. Match this setting across all your tools.

Volume Confirmation with FX Volume

FX Volume adds institutional context. After identifying your strong and weak currencies:

  1. Switch to the Net Long Change view in FX Volume
  2. Confirm that the strong currency shows increasing Net Long (institutional buyers are accumulating)
  3. Confirm that the weak currency shows decreasing Net Long (institutional sellers are active)

When strength and volume align, the trade has higher conviction. When they diverge (e.g., currency is strong on FX Power but volume is flat or declining), be cautious - the move may lack institutional backing.

Tip: Set FX Volume's comparison period (FXV_CHANGES_HOUR) to 8 hours for intraday or 24 hours for swing trading to match your analysis horizon.

Phase 2: Entry

Identify the Pair

From your screening, you know the strongest and weakest currencies. Now construct the pair:

  • Strong EUR + Weak USD = EURUSD BUY
  • Strong USD + Weak JPY = USDJPY BUY
  • Strong GBP + Weak NZD = GBPNZD BUY

Always trade strong against weak. Avoid pairs where both currencies are in the middle of the pack.

Precise Entry with EasyTrade

Open EasyTrade on the chart of your selected pair:

  1. EasyTrade shows interactive lines for Entry, Stop Loss, and Take Profit
  2. Drag the SL line to your intended stop level - below the recent swing low for BUY trades, above the recent swing high for SELL trades
  3. Drag the TP line to your target. Aim for at least 1:1.5 risk-to-reward or better.
  4. The panel automatically calculates your lot size based on your risk settings

Risk settings recommendation:

  • Set Trade size type to "Risk from SL"
  • Set Maximum risk per trade % to 1-2%
  • Set Based on to "Balance"

This means EasyTrade calculates the exact lot size so that if your stop is hit, you lose exactly 1-2% of your balance. No manual calculation needed.

  1. Review the panel: it shows lot size, risk in your account currency, and the reward-to-risk ratio
  2. Click BUY or SELL
  3. EasyTrade places the trade with your SL and TP, and takes an automatic screenshot for your journal

Spread Check

EasyTrade has a built-in spread filter. If the current spread exceeds your Max spread in pips setting, the trade is blocked with a "Filtered by spread" message. Wait for the spread to normalize (avoid entries during news releases or low-liquidity periods).

Phase 3: Management

Dynamic Stops with Smart Stop Indicator

Once your trade is open, add Smart Stop Indicator to the chart:

  1. The indicator shows the current valid SL level as a horizontal line
  2. Color-coded candles (green for BUY phase, red for SELL phase) confirm whether the market structure still supports your trade direction
  3. The panel shows the SL status: "valid" means the level is established, "new" means it just formed, "broken" means the level was breached

Use this information to assess whether your trade's stop is well-placed relative to market structure. If Smart Stop shows a tighter valid SL than your current stop, consider manually tightening.

Automated Trailing with Smart Stop Manager

For hands-off management, use Smart Stop Manager:

  1. Place the Manager EA on any chart (it manages all open positions across symbols)
  2. Set scanTF to match your Smart Stop Indicator timeframe
  3. Set MagicFilter to match EasyTrade's magic number (or 0 for all trades)

The Manager automatically:

  • Identifies the optimal SL for each position
  • Tightens the stop when the market moves in your favor
  • Never widens the stop (core safety principle)
  • Locks in profit when the SL moves past your entry price

The Note column tells you the status:

  • Empty = SL is optimal or was just updated
  • "Profit locked" = your stop is past break-even, profit is secured
  • "Counter-trend" = market structure turned against your trade, no SL update applied
  • "No valid SL" = no clear structure on the selected timeframe

Phase 4: Exit

Recognizing the End of a Move

Return to FX Power NG to monitor the exit:

  1. Watch the Delta between your pair's currencies
  2. Delta shrinking = the strength difference is narrowing, the move is losing momentum
  3. Lines converging = currencies are equalizing, time to consider closing
  4. Delta crossing zero = the edge has reversed, close the position

Additionally:

  • If Smart Stop shows status "broken" - the market structure has shifted
  • If Power Candles transition from dark green/red to gray - momentum is fading

When to Close

  • TP hit - EasyTrade closes automatically at your take profit level
  • Manager locks profit + trailing stop hit - the Manager's tightened SL closes the trade
  • Manual close - you see Delta shrinking significantly or multiple warning signs align

Risk Management Reminders

Per-Trade Risk

  • Risk 1-2% of your balance per trade, never more
  • Use EasyTrade's "Risk from SL" mode to automate lot size calculation
  • If the calculated lot size seems too large, your stop may be too tight for the symbol's volatility

Multi-Position Risk

  • When trading multiple pairs involving the same currency (e.g., EURUSD BUY + EURGBP BUY), you have correlated exposure to EUR
  • Reduce lot size when holding multiple positions with the same base or quote currency
  • Monitor the Smart Stop Manager's footer for total portfolio risk
  • A common guideline: do not exceed 5% total risk across all open positions

Position Sizing by Conviction

  • High conviction (FX Power + FX Volume aligned + FX Trend confirming): full 2% risk
  • Moderate conviction (FX Power clear but volume neutral): 1% risk
  • Speculative (testing a setup): 0.5% risk

Complete Tool Chain Summary

Phase Tool Purpose
Screening FX Power NG Identify strongest/weakest currencies
Screening FX Volume Confirm institutional backing
Entry EasyTrade Calculate lot size, place trade with SL/TP
Management Smart Stop Indicator Monitor dynamic SL levels
Management Smart Stop Manager Automated stop tightening
Exit FX Power NG Watch Delta for move exhaustion

This workflow covers the full lifecycle: screen for opportunities with strength and volume, enter precisely with calculated risk, manage automatically with trailing stops, and exit when momentum fades. Each tool has a clear role, and together they form a systematic approach to trading.