Entry and Exit Points

Hello Every One!

Though I have subscribed in FF since long but recently become one active member of this factory. I am newbie who was into forex trading since january 2006 , learnt a bit and got busy with personal life. But again, Forex is addictive! I am doing good these days,like making 100+ pips in each trade.But I have a major problem of "when to get in a trade " and "when to get out of the same"

Any specific indicator or any thing?and if there is an indicator then how it works?

Thanks in advance
- dr_trader

at 100+ you seem to know when to get in and out... how big is your stops?

No stops! I use fibbo and if it goes -100pips I wait for it to come back up. And the next day/week the same reaches +150 or so.As its GBP/JPY. I start measureing fibbo retracment from any angle and enter the trade. Thats the reason was wondering if I could get something for entry and exit points

why do you use fibbo if you don't close it when your wrong lol, just throw some money at the market and hope for the best - pretty much what your doing now. look for fib breaks/rebounds (i don't believe in that stuff, but if its your style that's cool) fib also provides support/resistance so you should get a rough idea of where price may turn.

There's a presentation on CME about how to use stops effectively.

Basically use it as a place that would say your trade is proven wrong, rather than trying to lock in profits.

So as you move your stops, look at price action and place it where you think if it hits, you know the direction of your trade is reversing, rather than following it to get profits cause you're scared or greedy. Interesting insight

Well, I used fibbo anywhere in the middle and due to greeed it goes below sometimes.Thats the reason was looking for a professional advice on entry and exit points. Anyway, Thanks to all who read this aand replied .I got the answer from other trend