Many if not most of the systems I have found focus mainly on entry signals, how to enter the market. Most are very vague or general when it comes to exiting your position.
So the question I would like to address in this thread is:
What are the best exit strategies and in what situation would you use them?
The good trrade books out there say the key to success in trading is to let profits run and cut losses short. This doesn't have anything to do with the entry, it has to do with the exit. Exactly how do you let profits run and cut losses short? Many say this is far more important than the entry strategy.
Hopefully we can throw around some ideas and come up with the best exit strategies for each trading situation:
Taking profits
Cutting losses
For:
Scalping
Long term trend trading
Swing trading
etc.
So the question I would like to address in this thread is:
What are the best exit strategies and in what situation would you use them?
The good trrade books out there say the key to success in trading is to let profits run and cut losses short. This doesn't have anything to do with the entry, it has to do with the exit. Exactly how do you let profits run and cut losses short? Many say this is far more important than the entry strategy.
Hopefully we can throw around some ideas and come up with the best exit strategies for each trading situation:
Taking profits
Cutting losses
For:
Scalping
Long term trend trading
Swing trading
etc.