Exit strategy

[athan00]

Suppose you get know the perfect entry for a trade and so you open it (lets say you go long) with a 10lots size order.

What you dont know of course is how far the price will move... 1 pip? 10 pips? 1000pips?

 

So how you handle your exits? When will you close the order? How do you handle/outsmart your "trading" fears?

[wcicom]

Good question athan00, since exit is a lot more important than entry. There are so many different strategies traders use, bar reversal, indicator flipping, or simply reverse condition which prompted the entry, best is to just experiment and get creative.

[athan00]

well its true that most entry rules can also be used for exit as well. But lets try to be more specific using some real trading examples. Lets expose & explore some exit strategies here.

 

One very good exit strategy is by using fib levels. Fib levels are a very misunderstood tool in the way they are used. They are very powerful if they are used correctly and they can promptly show you some very good exit levels.

 

I ll continue my posts after a few replies and ideas...

[pikachu]

:-?is the YO-YO exit is cooler :-?//

[gacha]

you need to plan your trade more carefully. not based on market bias.

there's no such 'hope' included in your trading plan. you need to get more serious with it.

taking care of your money, then they will taking care your life.