What is a Setup?
A trading setup is a structured trade idea published by a group leader. It contains all the information you need to execute the trade, including entry, exit, and risk management parameters.
Setup Components
Basic Information
- Instrument: The currency pair or asset (e.g., EURUSD, XAUUSD, US30)
- Direction: BUY (long) or SELL (short)
- Timeframe: The chart timeframe used for analysis
Entry Details
- Entry Price: The exact price to enter the trade
- Entry Zone: Sometimes a range is given (e.g., 1.0850 - 1.0860)
- Entry Type: Limit order, market order, or pending order
Risk Management
- Stop Loss (SL): The price level where the trade closes at a loss
- Risk in Pips: Distance from entry to stop loss
Profit Targets
Most setups include multiple take profit levels:
- TP1: First target - typically closest, highest probability
- TP2: Second target - medium distance
- TP3: Final target - furthest, full profit potential
Reading a Setup Card
Here's how to interpret a typical setup:
XAUUSD - BUY
Entry: 2340.00
SL: 2330.00 (-100 pips)
TP1: 2355.00 (+150 pips)
TP2: 2370.00 (+300 pips)
TP3: 2390.00 (+500 pips)
R:R = 1:1.5 / 1:3 / 1:5
Setup Status Updates
Setups can be updated throughout their lifecycle:
- Active: Trade is live and running
- TP1 Hit: First target reached - consider partial close
- TP2 Hit: Second target reached
- TP3 Hit: Full target reached - trade complete
- SL Hit: Stop loss triggered - trade closed at loss
- BE (Breakeven): Stop loss moved to entry price
- Closed: Manually closed by leader
- Cancelled: Setup invalidated before entry
Best Practices
Position Sizing
Always calculate your position size based on your account and risk tolerance. Never risk more than 1-2% of your account on a single trade.
Partial Closes
When TP1 is hit, many traders close 50% of their position and move SL to breakeven. This locks in profit while letting the rest run.
Don't Chase
If price has already moved significantly past the entry, don't chase it. Wait for the next setup with better risk/reward.
Notifications
Configure your notification settings to receive alerts for:
- New setups published
- Setup updates (SL moved, TP hit)
- Setup closures