I enter trade with 4 ES futures contract with 2 pts SL and go break even(BE) after I am +2 automatically and then stay at break even. I take first 1/2 position out at 8 pts generally. 3rd at 12-20 and 4th is left untouched for home run. I always reenter as far price is staying or coming back and settling below my setup price for short or above for a long. Some runaway setup will never reach my setup price and you have to chase, but chase with proper risk management with each stop out you enter at better price.
When you follow me, just look for setup. Don’t wait for me to enter or exit as you might be too late or early if you wait for me to enter/exit. For entries and stops follow the link for more detailed explanation. Just watch price and if needed one minute(or 30 seconds if you are able to manage) bar to close below for short or above for long and enter based on setup price and keep stop that works for you. -2 works for me but many of my followers are using -4 stop on entry. Regardless of what stop you use on entry, always try to break even as soon as you are +2 or +2.5 Depending on price action I may change stop at entry to higher or lower. For highly volatile market where every second ES is moving 4pts, I will keep stop at 4-5 pts. If market too slow and I need to re enter multiple times I try keeping stop tighter to 1 pt some time to avoid losses.
I generally have order setup to +10 as default OCO for first two. As a beginner you should try to take first two at +6. I take +8-10 and some time 20 depending on how I feel about the market. If I see market is ripping thru I take chance by increasing my stop. So when its already +10 I may have backstop at 8 and so on
Also I don't put limit order to buy or sell when entering trade. I keep an eye. So if market is going straight down while I am trying to get long, I don't want to get -2 and other way. You watch for price to pause.
If you end up doing multiple entries and -2's then it might be better for you to have initial stop little wider like 4-5 pt may be, Again this is not suggested but if you end up doing two -2's in entry then its better to have wider stops.
I keep entering trade using same setup until I find new setup or price moves against the setup price by too many pts. At that point I cancel and wait for new setup to develop. I will keep reentering even after getting stopped out as far as price pauses or comes back below my setup price for Short and above my setup price for long