STOCK TRAINING · LONG ONLY
Atlas Long
Pullback / Consolidation Breakout
Confirm the chart, define the structural stop, and size the position before choosing an Atlas Long preset.
Educational practice only. Scanner matches are candidates, not buy signals. This page does not place orders.
THE COMPLETE SEQUENCE
From candidate to recorded trade.
Use each checkpoint in order. If a setup fails a check, pass on it and return to the scanner.
- 01
Scanner
Use the long-only Pullback or Consolidation Breakout scan to build a watchlist. Review liquidity, spread, volume and scheduled news. The scan narrows the search; it cannot confirm an entry.
- 02
Chart confirmation
Pullback: look for an established upward structure, a controlled retracement into support, and a renewed upward move. Consolidation breakout: mark the range and look for price acceptance above resistance with participation. Avoid chasing an extended move; mark a planned entry and the level that invalidates the idea.
- 03
Structural stop
Choose the chart-based invalidation level below entry, such as the relevant swing low or consolidation support. Let structure set the stop, then reduce shares if necessary. Initial risk per share = entry − original structural stop. Keep that original risk fixed when measuring R.
- 04
Risk-based position sizing
Exact max shares by risk = maximum dollar risk ÷ risk per share. Max whole shares by buying power = floor(available buying power ÷ entry). Use the lower limit. The workbook keeps the exact risk calculation visible.
- 05
Atlas Long preset selection
Choose the highest saved quantity that does not exceed either limit. Never round up. Select the matching Thinkorswim Atlas Long template, then verify quantity, entry, order type, duration and protection. Keep Auto Send OFF. A saved default trail, such as −$0.50, must be reviewed against the actual structural distance.
51015202530405075100Below 5 allowable shares → no preset / 0 shares. Above 100 → cap at Atlas Long 100.
- 06
+1R management trigger
+1R price = entry + initial risk per share. When price reaches it, review the chart and the working protective order. Consider breakeven protection only if it fits the structure. This is a management checkpoint, not an automatic exit or a promise of a risk-free trade.
- 07
Higher-low / trailing-stop management
As confirmed higher lows develop, review whether protection can move upward beneath the new structure. Do not widen the original planned risk to keep a losing trade alive. +1.5R and +2R are reference levels, not fixed profit targets in this workflow.
Structural stop versus automatic trailing stop
A structural stop is a chart level. An automatic trailing stop follows the broker’s selected price reference at a fixed dollar or percent offset; it does not recognize higher lows. If the preset activates a trail at entry, that trail can move before +1R. Entry minus the structural stop is the initial distance reference, not a guarantee of the broker’s eventual trigger or fill. Verify the reference price and trigger in paperMoney. Stop-market fills can be worse than the trigger; stop-limit orders may not fill.
- 08
Trade log
Record actual fills, setup type, original stop, shares, exit, P/L, realized R and a note on rule-following. Preserve the original stop even after moving protection. Use the workbook’s Trade Log for your own records and keep private account information out of public notes.
Open the logging checklist →
HYPOTHETICAL EXAMPLE · USD
Practice the preset decision.
These are invented training inputs. Calculations run in this page without saving or sending your entries.
RECOMMENDED ATLAS PRESET
Atlas Long 20
23 exact shares by risk; 40 whole shares by buying power.
- Initial risk / share
- Position cost
- $1,000.00
- Planned initial risk
- $20.00
- +1R management trigger
- $51.00
Planned price risk excludes slippage, gaps and fees. A stop does not guarantee a maximum loss.
Buying-power practice uses the amount available for this example. It does not check brokerage restrictions, settled funds, commissions or margin requirements.
RECORD THE PROCESS
Log the trade. Review the decision.
Use the Trade Log tab in your Atlas Stock Risk Calculator. Enter actual fills in the yellow fields; calculated columns update automatically.
- Date, ticker and Pullback / Consolidation Breakout setup
- Actual entry, original structural stop and filled shares
- Actual exit, P/L and realized R
- Whether +1R was reached, how protection changed, and what to improve
Initial dollar risk = (entry − original stop) × actual shares. Gross P/L = (exit − entry) × shares. Realized R = gross P/L ÷ initial dollar risk. For partial exits, use the share-weighted average exit after the position is fully closed; track scale-ins separately.
Order mechanics reference
Review Schwab’s Thinkorswim trailing-stop guide and stop-order risks before practicing. The Atlas quantities above are custom saved presets, not a built-in brokerage recommendation.
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