Profit Exits are an aspect of any trading system, and one of the most important. I'd like to open up this thread to discussion of the best profit exit techniques and discussion.
For those who do not know, a profit exit, is basically a set of guidelines for what to do when you have a trade in profit. This thread is not about how to exit trades that are losing. Techniques can range from the basic take profit order, to several different kinds of trailing stops, to hedging the profit, and on and on.
We seem here to spend a lot of time discussing how to create systems that can find opportunities for profit, but we spend little time discussing what to do once we are actually in profit, which is, in the end, more important.
For those who do not know, a profit exit, is basically a set of guidelines for what to do when you have a trade in profit. This thread is not about how to exit trades that are losing. Techniques can range from the basic take profit order, to several different kinds of trailing stops, to hedging the profit, and on and on.
We seem here to spend a lot of time discussing how to create systems that can find opportunities for profit, but we spend little time discussing what to do once we are actually in profit, which is, in the end, more important.