Disliked{quote} Hi G, It is probably self evident, but the maintenance of a smooth positive Equity Curve strikes me as being a worthy goal in its own right. Obviously this can be accomplished only by selling winning positions. In addition, limiting the gap between your Floating Profit and your Balance probably will help you get a better nights sleep even if this means that in effect your FP will be diminished to a certain extent. Just a Noob's mumblings, AGIgnored
That's a good list of whys to exit. Tomorrow we'll start going through the whens and hows of exits, the most interesting parts. Our goal here is to tear exits down to their smallest parts and examine them in the greatest detail that we can manage. I'd be very pleased if we could manage as a group to analyze exits in greater detail than has ever been done anywhere. We will study this one aspect of trading until we are Experts At Exiting. This is quite a project. When and how to exit may or may not vary, depending on your system and which of the 6 above reasons you are exiting. Great fun!
Oh well, I exited 6 Yen long positions at about 200 pips each, but then I went back in and added 2 more back. They went straight to profit, so I guess the Japanese aren't quite satisfied yet. They haven't announced a goal so there is no way to know what their actions will be. I have happy dance TP's set at 300 to 400 pips above the current price. I doubt they hit, but if so that would put the yen back around 123.0 or it's 2007 value just before it's great fall. We'll see.
Sleepy time