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Exit Strategies discussion

  • #1
  • First Post: May 2, 2008 5:48am May 2, 2008 5:48am
Hello all,

i have been looking for thread about exit strategies but i could not find so i decidet to make one and if i have misslooked this thread please post a link to it.
I have been reading many of the systems in here but most of them are giving only entering signals and not enough information about exit signals so i would like to ask you to post some exit strategies so me and the other peoples in the forum can choose one or make their own based on the posts here.

Thank you all and god bless you!

P.S.: Please excuse my english.
  • #2
  • May 3, 2008 9:25am May 3, 2008 9:25am
Yes I have the same problem in taking decision when to exit.

The most important thing /decision is pin pointing entry because when you enter that is open a trade as whateven indication it must be green in mind otherwise why do take ? if any % of doubt better not to do.
Regarding exit , I do set take profit 10-50pips as per confidence in the trade ( the more the tp the more the risks ) but when market situation not unrest and indcator shown sustain trend in h1 with one h4 or d1 do not set any stoploss and take profit & let it run till the signs of any reverse & exit .

just my experience for short time in live trading from the begining , learning in live environment having all risks in lossing my hard earn money.

thanks
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #3
  • May 3, 2008 9:32am May 3, 2008 9:32am
Quoting Anatar
Hello all,

i have been looking for thread about exit strategies but i could not find so i decidet to make one and if i have misslooked this thread please post a link to it.
I have been reading many of the systems in here but most of them are giving only entering signals and not enough information about exit signals so i would like to ask you to post some exit strategies so me and the other peoples in the forum can choose one or make their own based on the posts here.

Thank you all and god bless you!

P.S.: Please excuse my english.

http://www.forexfactory.com/showthread.php?t=74589
  • #4
  • May 3, 2008 9:38am May 3, 2008 9:38am
I am an inexperienced trader but an experienced FF reader so here are my thoughts, this is what I have been doing during the last weeks. Before I take any trades I draw S/R lines, flags and channels where I can and look at previous similar situations to see what happens. When I take the trade I therefore have an idea of where I think it will go. If it stalls and I get worried I normally close half the trade and add a trailing stop to the other half (size dependent on currency but usually 20 - 40 pips).
I have learnt that a fixed take profit figure for every trade will generally end in failure. Every trade is different and you have to make a judgement based on that.

Max
Gravity goes both ways in forex...
  • #5
  • May 3, 2008 10:41am May 3, 2008 10:41am
I have been working on a excel sheet to help me to understand what an annual income target would take to achieve in this case 50k

so i set my self a target of 50k then worked it back to find my daily exit point based on the lot size and tick value.

to me it struck home what a hard yet simple looking career this trading lark could be.

anyway have a look and let me know what you think.
Attached File(s)
File Type: xls Pay Rise Money Management.xls   21 KB | 650 downloads
  • #6
  • May 3, 2008 11:43am May 3, 2008 11:43am
Quoting Kiwi06
I have been working on a excel sheet to help me to understand what an annual income target would take to achieve in this case 50k

so i set my self a target of 50k then worked it back to find my daily exit point based on the lot size and tick value.

to me it struck home what a hard yet simple looking career this trading lark could be.

anyway have a look and let me know what you think.
Excellent ! As a newbie I understand less but the xl sheet seems one good approach to your money management , at least I understand you do follow some mm & decipline.
never tried before for myself yet.
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #7
  • Sep 7, 2014 6:34am Sep 7, 2014 6:34am
what if i told you you can loose your account with poor exit strategies . strategies so poor that you they turn a good trade into a loss
  • #8
  • Sep 9, 2014 12:50am Sep 9, 2014 12:50am
yes, turing a winner to a loser.
Actually you can enter straight away blindfolder on the market. You just need to manage the trade.
Exit is definitely harder than entry. Exit requires experience not to be too late or premature.

If you are a newbie, i suggest you exit using Overbought/Oversold indcators Like RSI, BolligerBands
  • #9
  • Sep 9, 2014 2:02am Sep 9, 2014 2:02am
when to exit a profitable trade is always a hard decision because you are afraid to let something on the table. So it is a greed issue.

I have solve this myself by trading really rule based, I decide in front what R:R I desire and set my TP accordingly. It helped me a lot! Knowing that there will be coming always other trades to profit from!!
My to copycat way to generate additional passive income!
  • #10
  • Sep 9, 2014 4:57am Sep 9, 2014 4:57am
When you have a trade open, ask yourself this question: "If I had no positions right now, would I be happy to open a new trade in this direction?"

If the answer is yes, stay in the trade. If the answer is no, it's time to exit.
si hoc legere scis nimium eruditionis habes
  • #11
  • Last Post: Sep 9, 2014 1:55pm Sep 9, 2014 1:55pm
The correct exit strategy is as follows:

Losing is not a strategy,
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