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Attachments: What Is Best Indicator For Getting OUT of Trade?
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What Is Best Indicator For Getting OUT of Trade?

In my initial stage of trading I used moving average crossover trading strategy for y entry and exit points! By the way, now I use Fibo for identifying valid support and resistant levels of market, it really works!
I think you need to show some charts of your trading for people to understand your trading style and also the problems that you are facing.
'For the market to work, it needs people who think that they can beat it.'
Quoting AlastorFate
I think you need to show some charts of your trading for people to understand your trading style and also the problems that you are facing.
Yes, I think so! Because, assume a chart based on so many info’s is really hard!
My exists are usually based on candlesticks, not on indicators, as are my entries. I usually use indicator to ascertain the trend and how active it is, and whether it is close to reversal.
When price reaches your take profit or stop loss.
Quoting mlawson71
My exists are usually based on candlesticks, not on indicators, as are my entries. I usually use indicator to ascertain the trend and how active it is, and whether it is close to reversal.
Of course, candlestick is much powerful technical tool than any default & custom indictor! In my live trading, I also depend on my trading chart for making the accurate technical analysis!
Quoting Majeeda
{quote} Of course, candlestick is much powerful technical tool than any default & custom indictor! In my live trading, I also depend on my trading chart for making the accurate technical analysis!
We all depend on the trading charts.
What do you use though, candles, bars, or lines?
Indicators will not help you. In trading everyone should have some rules. And you have to stick to those rules. Like there should have been a fixed risk reward ratio. It could be 1:1 or 1:2 according to your strategy. When you have risk reward ratio, you will open trade if the criteria is met. Sometimes we may need to take instant decision depending on the market situation. But rules should be there. That's the reason discipline is the key to success here.
In my opinion indicators are good to figure out overall movements, but for entries and exits it's good to know pure price action.
Quoting mlawson71
In my opinion indicators are good to figure out overall movements, but for entries and exits it's good to know pure price action.
Yes, I agree with you; even I set my SL & TP according to the support/resistance levels with my PA trading knowledge!
Quoting DarrenLehma
{quote} Yes, I agree with you; even I set my SL & TP according to the support/resistance levels with my PA trading knowledge!
For how long have you been trading based on Price Action?
  • Post #52
  • Quote
  • Edited at 7:04pm Mar 8, 2018 6:44pm | Edited at 7:04pm
Agree with everyone saying that price action is the key to entry and exits.

I do not trade with charts but along the same lines as most of the responses here, my spreadsheets are set up with higher price points and lower price points in mind. (I avoid using the word "close" because I make my decisions based on 5:00am and 4:30pm EST and not daily closes) I'm on a 12 hour time frame so a bit different but still the same thought process of letting the price point at the time I choose be my guide. The only indicator you could say I use is one I developed myself that is based on 6 data point price point that gives me an idea of exhaustion or momentum. It is still based on pure price taking into account the current price point and the previous 5 data points.
Model 3 All Time Pips: 1,790
I often advise people to build a strategy for getting out of a trade as well. Fibonacci levels are the best indicators for exiting from a trade. You have to keep an eye on them and put Target Price (TP) according to them.
Quoting Derzo
I often advise people to build a strategy for getting out of a trade as well. Fibonacci levels are the best indicators for exiting from a trade. You have to keep an eye on them and put Target Price (TP) according to them.
Any decent strategy should have conditions for exits as well as for entries. They are just as important, but because if you keep your position open too long or too little you can still end up losing money.
Price up and volume down is a dangerous situation for the market as well as for the inexperienced trader where the distribution is done by the smart investors who have some inside information about the market. Price and volume analysis is very helpful at this point which shows the clear divergence where price is moving up but volume is not supporting the up movement giving the early signal of smart money exit.
P[ease I need zero line cross and double line zero cross indicators.
If you have assist me.
Thanks!
  • Post #58
  • Quote
  • Last Post: Jun 9, 2020 9:15pm Jun 9, 2020 9:15pm
Quoting GodfreyH
{quote} I posted this on another similar captioned thread, but it bears repeating here: ...while I am not a programmer, I've spent the better part of 3 years, testing and going through the codes of literally hundreds of mq4 indicators. I've long since come to the conclusion, that, the indicator that gives a good entry never gives a good exit on the flipside. Typically you will lose most of the earnings you gained, by the time you get an exit signal , maybe that's why my auto-reverse EA's didn't do so well. LOL Take the waddah attar explosion , for...
I know this is an old thread but is the T3MA, the Triple 3 Ema? And how did it work as an exit indicator in the long term? Tom
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