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 the counterparty view. It inverts the retail positioning, so you see where the institutional side stands. 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 (the counterparty side is accumulating, retail is selling into it)
  3. Confirm that the weak currency shows decreasing Net Long (the counterparty side is selling, retail is buying into it)

When strength and volume align, the trade has higher conviction. When they diverge, for example a currency is strong on FX Power but volume is flat or declining, be cautious. The move may not be backed by the institutional side.

Tip: Set FX Volume's "Compare with X units back" to 8 for intraday or 24 for swing trading (with "Back comparison in .." set to hours) 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 the Premium Trade Manager

Open the Premium Trade Manager on the chart of your selected pair:

  1. Pick your direction in the panel; the order builder puts three preview lines on the chart: entry, stop and target
  2. Drag the stop line to your intended level, below the recent swing low for BUY trades, above the recent swing high for SELL trades. Or let a stop source place it for you: a fixed distance, an ATR multiple, or the structural level from the built-in Smart Stop logic
  3. Drag the target line to your goal, or work with an R-multiple target. For staged exits, switch to partial take-profits (see Partial Take-Profits and Smart Stop Trailing)
  4. The panel sizes the position from your risk setting

Risk settings recommendation: set the risk mode to a percent of balance and keep it at 1-2%. The panel then calculates the exact lot size for every stop distance, so a stop hit costs exactly that share of your account. Manual math stays out of the picture.

  1. Read the findings card under the Execute button: one finding per line, amber is worth knowing, red is worth stopping for. The optional trend filter additionally marks an entry against the FX Trend direction
  2. Click Execute. The trade goes live with your stop and target on the chart, every level labelled and draggable while the trade runs

Pre-Trade Checks

The findings card gathers what speaks against the trade before you commit, and the news display on the chart keeps high-impact releases in view, so you can time your entry deliberately instead of walking into a release.

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 "Timeframe for SL calculation" to match your Smart Stop Indicator timeframe
  3. Set "Only manage trades with this magic (0=all)" to match the Premium Trade Manager'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: the Premium Trade Manager closes at your target, or scales out level by level if you run partial take-profits
  • 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 the Premium Trade Manager's risk-percent sizing to automate the lot 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 the counterparty side agrees
Entry Premium Trade Manager Risk-based sizing, preview lines, execution with stop and target
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.