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What Is Best Indicator For Getting OUT of Trade?

  • #21
  • Edited 10:28am Aug 27, 2014 2:23am | Edited 10:28am
back test a TDI indicator ... doubt you'll find anything much better than that to give entry/exits ... you're looking for re-entry back into BBs after it has been outside (trending) ... typically price will give a final strong push before losing its momentum and that is when you'll see re-entry into BBs. TDI is a 13 RSI with bands similar to Bollinger Bands (1.6185 * StDev(RSI,34))
  • #22
  • Aug 27, 2014 2:24pm Aug 27, 2014 2:24pm
Use trailing stops..but it takes a while to master this and BB would be a good way to work out the exits..
  • #23
  • Aug 27, 2014 10:18pm Aug 27, 2014 10:18pm
A good take profit indicator is simply bollinger bands. Liquidate on the nearest band, whether it be top, middle or bottom. Another thing you all can do is, if you are shorting and happens to be at top or bottom bollinger, liquidate half on middle band, set break even and let it run for next band.

I myself use pivots to look for take profits and trail stops.

Hope this helps.
  • #24
  • Aug 28, 2014 7:04am Aug 28, 2014 7:04am
I also use trailing stops. But always keep eyes on price action. So I don't want to lose more pips.
  • #25
  • Jul 16, 2016 10:19pm Jul 16, 2016 10:19pm
Hi yugenn here, there's 250+ indicators in this attached file. There's a indicator "Breakout-zones". Enter when the market breakout n exit with 100 pips. Hope this helps.!!
 
Attached File(s)
File Type: zip DolphinTraderDL.zip   4.7 MB | 2,236 downloads

Attached File(s)
File Type: pdf DolphinTraderUserGuide.pdf   772 KB | 5,690 downloads
  • #26
  • Jul 17, 2016 4:14am Jul 17, 2016 4:14am
This is a very old thread and just came back alive.

There are many different ways to exit trades.

One which I like is based on volatility. We trail the market until we get stopped out.

Chandelier Exit.

http://forex-indicators.net/volatili...handelier-exit
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #27
  • Jul 18, 2016 3:36pm Jul 18, 2016 3:36pm
My exits are based on candlestick patterns. A trend will usually slow down and become indecisive before it reverses. This is where reversal patterns come in handy. One of the downsides is that when a reversal candle forms, the market could just be consolidating before continuing the trend, so you can miss out on additional pips. I have not been able to find an indicator or technique that can satisfactorily distinguish between a market consolidating and one that is stalling and about to reverse. Here is a blog post that outlines the positives of candlestick patterns, if anyone is interested http://www.forexstrategyblog.com/lea...tick-patterns/
  • #28
  • Jul 19, 2016 7:03pm Jul 19, 2016 7:03pm
Hi, thx for the info. I have another question ? When using the trailing stop EA, do we have to enter market manually or it will enter ?
  • #29
  • Jul 21, 2016 1:42am Jul 21, 2016 1:42am
My exits are based on a combination of candlestick patterns, trend lines, Moving averages and Bollinger Bands. Simply put, I use the the BB, MA and trendlines to figure out the supports and resistances, and I watch the candlesticks for reversal patterns.
  • #30
  • Jul 21, 2016 9:49am Jul 21, 2016 9:49am
I personally rely on price (big numbers). I often hand pick numbers from Oanda's orderbook and sometimes use pivot/Fibonacci to exit my trades.
  • #31
  • Jul 21, 2016 12:19pm Jul 21, 2016 12:19pm
Quoting dianajs
My exits are based on a combination of candlestick patterns, trend lines, Moving averages and Bollinger Bands. Simply put, I use the the BB, MA and trendlines to figure out the supports and resistances, and I watch the candlesticks for reversal patterns.
I think market based stops like this are the way to go. Trailing stops have never really appealed to me. However, a market based trailing stop could be something interesting.
  • #32
  • Nov 23, 2016 8:57am Nov 23, 2016 8:57am
Quoting forex_sake
Um, may sound rather silly, but if you know "exactly when to enter the trade", then you should know "exactly when to exit the trade". The time to exit the trade is when you get a signal to trade in the opposite direction using your system (or is that being too naive for your particular system?)

This is the dumbest thing I've read here! :-D
  • #33
  • Nov 23, 2016 9:51am Nov 23, 2016 9:51am
Quoting Pipinek
{quote} This is the dumbest thing I've read here! :-D
Why?
Gone to a better place
  • #34
  • Nov 23, 2016 11:57pm Nov 23, 2016 11:57pm
What Is Best Indicator For Getting OUT of Trade? - We'll let me think.. Maybe profits?!
  • #35
  • Nov 24, 2016 12:16am Nov 24, 2016 12:16am
Quoting leebsurag
What Is Best Indicator For Getting OUT of Trade? - We'll let me think.. Maybe profits?!
That is where you might be wrong. Here is an example:

Attached Image


and here is another example:

Attached Image
Gone to a better place
  • #36
  • Nov 24, 2016 12:34am Nov 24, 2016 12:34am
Pipinek's assertion "This is the dumbest..." actually needs some basis in fact, or at least opinion. I'm looking forward to hearing why it is the dumbest thing he/she has read.

The fact is, there is no best indicator for getting out of a trade, in the same way as there is no best indicator for getting into a trade. There might be a best method, on the most suitable time frame, for a particular style of trading. To be fair to Pipinek, the same might not be the best method of getting out of the trade and in fairness to leebsurag, profit is an important factor.

As you can see from my post above, where the method of entry was technical analysis on a high (very high) time frame, followed by simple trend following and low risk/margin entries, many of which failed, profit is a very subjective value. I'll leave it there for further discussion.
Gone to a better place
  • #37
  • Nov 26, 2016 8:04am Nov 26, 2016 8:04am
Margin call
  • #38
  • Nov 27, 2016 5:17am Nov 27, 2016 5:17am
Quoting smikester
{quote} That is where you might be wrong. Here is an example: {image} and here is another example: {image}
Yeah both are profit screenshots. So what is the difference? Profit size ?
  • #39
  • Nov 28, 2016 12:57am Nov 28, 2016 12:57am
Quoting leebsurag
{quote} Yeah both are profit screenshots. So what is the difference? Profit size ?
I should have pointed out the difference in the detail. It is basically the age of the trades. Both of the screenshots were taken on the 24th November, something I should have made clear. So my point was "How much profit indicates a situation of where to get out of the trade?" All those trades are still running, by the way, although ironically, not doing as well at the moment.
Gone to a better place
  • #40
  • Nov 28, 2016 3:53am Nov 28, 2016 3:53am
I don't use indicators, just candle analysis. I find indicators more helpful with ascertaining overall trend.
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