I don't quite agree, from a discretionary trader standpoint. I believe entries are important to get me into a high probability position, but managing the trade is where I make my money. Just because I would be flat in a market(if I was just sitting down to look at the charts), doesn't necessarily mean I will exit my current position. In this case it may simply mean it is time to move my stop up(again I still do everything for a reason). This is the discretion part depending on your strategy/plan. I live by cut my losers, let my profits run.
But in the end, I always have a plan on how I will react to the market. So I guess I do sort of agree with you all on that sense. I am never surprised by the market, only reacting to it. I am flexible to the market. That is why either way having a plan that you can execute day in and day out is the most important. Most of the battle I believe is just an internal one. The usual greed, discipline, fear etc etc. Of course someone who has a system that generates entries and exit signals, or has the same type of criteria, shouldn't even have any type of problem with exits. For example, if someone exits at an R:R of 2:1 every time, knowing the expectancy. Then you do that, day in and day out(just an example).
So to me money is made in my exits, because when I exit I get paid, or I am paying out. I guess it is back to the old "two people can take the same position and one can blah blah blah" Again from my standpoint as a discretionary trader and something I see a lot of people struggling with is they get to the point of finding these nice looking entries and then after that they just try to feel themselves out of the market. Once I execute my entry, it isn't up to me what happens. What is up to me(control) is when I decide to exit my position. I guess that is why I am a believer in exits are where the money is(again as a discretionary trader that has different exit criteria then entry criteria)
It really depends on the type of trader you are I suppose.
Just my 2 cents! This is a great discussion topic, thanks. I just woke up hope my thoughts are coherent lol
Mike