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I'm finding conflicting information on this topic.
In Bonus Video no. 8, from 18:19 to 19:13 and from 31:50 to 33:06 Al says if you're swing trading, you have to be prepared to sit through pullbacks, because swing = 10 bars 2 legs.
In this video for Trading Nut, from 1-00-16 to 1-03-11, Al says if you've bought late in a trend, you get out below the first bear bar, or a scalp size below any bar.
In course vide 52A, Al says you get out if you get a surprise bar against you, or 2-3 medium trend bars against you, or 3-5 small trend bars against you.
What is the definitive management strategy for swing trades?
Well, the answer is Yes :).
From the descriptions you need to place into context to better understand the framework.
First, you will be swing trading when you believe there is probability in your favor. For that to be the case, you will need a swing stop, and depending on your methods, you may include scaling and ask yourself if you are not correct how and if you want to manage.
However, if there are 2 very strong bars or 3-5 smaller bars against you, the always in direction is not in your favor. Chances are you will already be approaching your stop or beyond. If you have sized yourself well - oh well, it is a loss, and that is the reason for that rule, in case of additional management.
Note, if you are hoping into the trend that has continued for 1.5 - 2+ hours, how long do you believe it is going to continue? Right, it is a good chance you are entering towards the end of the move, which is why the additional rule of late in the trends, especially going into the close.
Hopefully helpful and good trades to you!
