Best (profitable) Exit Signals?

OK. Everyone and anyone with an account, some money and an opinion or entry signal can take on a position. The trading and the profitable trading comes from properly exiting the trades.

Personally, I like to use percentage of move based stops and TPs instead of static hard point based stops or TPs. The percentage of move would be static but the actual price range of the SL or TP ranges based on the price of the underlying asset. For example, instead of say 60 pips SL or TP, I might use 0.009 of bid price as a SL or TP.

Or, I may use break of recent HH or LL as an exit signal.

I also use time based exits, for example if price has moved x% and time is TimeCurrent is less than Open Time plus timeX then exit.

I also go flat on Friday evenings and try to be flat each evening to avoid carry charges and morning surprises.

OK. There you have at least 3 of my current favorite exit signals. What are yours?

For the sake of the thread please avoid news and central bank comments or fundamental exit signals.

Interested in hearing about technical, testable signals, ideas that can be tested for consistency and effectiveness.

OK, so here's a short list so far just based on this short first post. My favorites in bold. The reason I like them is because they can be applied in any algorithm and tested for consistency instead of randomly.

1. Hard point or pip based SLs and TPs.
2. Opposing MA cross. Either price crosses an MA or 2 or more MAs cross.
3. Stochastic or RSI over under 20/80 or 30/70 etc. (Or, insert any other useful indicator here).
4. Exit on Percentage of opening price based SLs and TPs.
5. Exit on Break of recent HH or LL.
6. Time based exits. If market moves X amount in X amount of time.
7. Exit on Friday evening.
8. Exit before close of each day.
9. Exit based on pre determined Risk Reward ratio, for example 1:1.5 or 1:2 etc.
10. Exit based on pre determined price area levels such as pivot points, Fibonacci, Gann or Gartley or other S/R levels.
11. Engulfing candle patterns. Reversal star candle patterns (for candlestick traders).
12. Exit on Inside bar or other interesting bar patterns.

Of course any of these can also be used for entry sigs as well, but only EXIT signals that you personally use and that you think are effective and absolute is what this thread is about.

Nice thread.

I cannot trade manually. Get afraid and stop the trade much to early and then losses becomes bigger than wins. Hence I always programme robots to do my trading. I have tried for many years to hunt the tops and buttoms of the swing, but never succeded in finding the very best exit. I think, that Hull MA is the best indicator for me. It responds very fast.

So my take is that I have programmed the robots to stop trading when they have reached x% of profit on the day. That is x% according to the account balance. Most days I could have reached a higher profit, but I don't need it and this way every day is profitable if you have a good robot. My robots get active every day at 8 UTC.

It is nessecary to choose the instrument very specific, as most of them only generate losses using a robot.

Of cause if you programme the robot this way, then you can override it if you are present at the PC and follow a trade by moving the stop loss accordingly to the price movements. That is fun.

Subscribed. Thanks and
Regards

One recommandation regarding manual trading though. When I trade manually, I trade channels or wedges. I use the Hull MA with a 20 periode to confirm the swings before I trade. This is a nice way to entry and the exit is the other side of the channel or when the Hull tells you to get out. Regarding channels you should only take the trades in the trend direction.

Programmed the ea to stop trading or exit when reached x%. What is your x% TP? that is because many times the trend keeps going up & up & up. x% method means many times you settle for a lot less than you would gain if you stayed in trade. Here object is to get the max trend in before the exit. Regards

On the one hand, I am inspired by the fact that there are traders with a specific action plan who know exactly what to do in this or that situation. On the other hand, the events of the last year have signaled to me to study in more detail the fundamental analysis, because it gives a great potential for price movement and, accordingly, increases the potential for profit. And here it is a little easier to determine the point of entry, although on the eve of some serious events, certain speculations also happen while waiting for the movement. So I just wanted to say that some surprises happen almost always and sometimes you have to break the rules in order to achieve the desired goal. But this can be done only with good experience and colossal knowledge.

Competent use of take profit and stop loss is always the basis for competent work on the Forex market, regardless of the amount of capital, the chosen strategy and whether or not you pay attention to the fundamental analysis.
And in spite of the fact that there are a lot of variants of approaches to this part of trading - the only thing that must always be the main thing, because it's your safety, it's a possibility to wait out some difficult situation on the market or to handle certain losses, which are also inevitable in some or other percentage ratio.
You always have to be careful and remember that every decision has certain consequences.

That's right, every trader can choose the format that suits him and allows him to control all the processes that occur with the capital. I think that this is important for everybody, because it is important not only to increase the capital, but first of all to save what you have, so that you can protect yourself when the market gives you some unexpected surprises. Unfortunately almost everybody is always profit-oriented by any means, instead of paying attention to new knowledge and gaining practical experience, this is business, usual business where you can't count on luck or act blindly, I think many traders understand this, but sometimes they forget.

Yes, if you catch a good trend, then it will keep rising. But typically the reverse is coming fast and with great power, and you lose a lot of profit. If you catsh a bad trend or a ranging, then 3% is not that hard to reach anyway.

Trade your robot on many pairs. Let them work together. When they have gained a profit of 3% of your account, then stop trading. 3% every day is 15% a week. 60% a month. Of cause there will be losing streaks also, so it will not be that much. But 3% in your account is satisfying. Don't be greedy.

More than your entry, the exit strategy matters. You can enter a trade whenever you feel like but make sure that you always have an exit plan for it.

Really? You can enter a reversal or swing trade "whenever"? You might want to re-think that statement...