Best Exit Strategies for Forex market ?

This is a discussion on Best Exit Strategies for Forex market ? within the Forex forums, part of the Markets category; Hi,One may attack after going a couple of steps back. I think this is the much risk managing step in ...

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Old May 13, 2011, 12:10pm   #43
 
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Re: Best Exit Strategies for Forex market ?

Hi,One may attack after going a couple of steps back. I think this is the much risk managing step in Forex trading which i found in this thread.Good post.
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Old May 14, 2011, 8:54pm   #44
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Re: Best Exit Strategies for Forex market ?

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hey A

agreed - splitting 50/50 (or whatever % suits) is definitely the best of both worlds and can also be applied to entry methodology as well of course

yes its advanced stuff and not suitable for newbies but these kind of Discussions alongside MM are for me where the holy grail is for profitable trading vs finding the next great indicator/signal

N
Hi NVP,

I am a big fan of scaling out. But I guess here you are talking about scaling in.

This is something I have never really done (unless you count a new entry on an instrument I still have a trail on).

I know a lot of traders do scale in, it is something I would like to find out more about. Could you describe the methods you use for this please?
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Old May 14, 2011, 8:57pm   #45
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Re: Best Exit Strategies for Forex market ?

As for the topic my scaling out exits are:

I have 5 lots and 2 targets into the longer term trend.
I exit 2 lots at 1:1, and bring the remaining 3 lots to b/e.

Then I exit 2 more lots at my 1:2 target and leave the last one as a runner, if a new entry sets up I will move this last (runner) stop to my new entry stop. (If longer term trend shows a sign of possible reversal I will exit this runner, without waiting for a new set up.)

(If my first 1:1 signal is generated at much less than 1:1, I will exit all at whatever the market has given, this for me is an indication the trend is now ebbing.)
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Old May 17, 2011, 10:17am   #46
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Re: Best Exit Strategies for Forex market ?

NVP started this thread
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Originally Posted by Jason101 View Post
Hi NVP,

I am a big fan of scaling out. But I guess here you are talking about scaling in.

This is something I have never really done (unless you count a new entry on an instrument I still have a trail on).

I know a lot of traders do scale in, it is something I would like to find out more about. Could you describe the methods you use for this please?

I dont scale in, but I suspect many do.......would make life very complicated though if yuo were also watching to scale out

hahahaha
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Old May 17, 2011, 10:20am   #47
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Re: Best Exit Strategies for Forex market ?

NVP started this thread
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Originally Posted by Jason101 View Post
As for the topic my scaling out exits are:

I have 5 lots and 2 targets into the longer term trend.
I exit 2 lots at 1:1, and bring the remaining 3 lots to b/e.

Then I exit 2 more lots at my 1:2 target and leave the last one as a runner, if a new entry sets up I will move this last (runner) stop to my new entry stop. (If longer term trend shows a sign of possible reversal I will exit this runner, without waiting for a new set up.)

(If my first 1:1 signal is generated at much less than 1:1, I will exit all at whatever the market has given, this for me is an indication the trend is now ebbing.)
excellent .....

this Is why I created this thread.......experienced traders have long moved on from the eternal question of "does my entry signal work ?" and into optimisation of Trades

N
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Old May 17, 2011, 1:16pm   #48
 
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Re: Best Exit Strategies for Forex market ?

Quote:
Originally Posted by Jason101 View Post
Hi NVP,

I am a big fan of scaling out. But I guess here you are talking about scaling in.

This is something I have never really done (unless you count a new entry on an instrument I still have a trail on).

I know a lot of traders do scale in, it is something I would like to find out more about. Could you describe the methods you use for this please?

I think the Turtles scaled in and pyramided their positions. They operated on a long time frame though with their long term trend following.

There have been discussions on T2W about increasing your position as a form of money management, but I'd say it's not something that is on-topic for this thread, unless you are discussing (like NVP mentions) whether you are still entering or whether you have started exiting.
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Old May 19, 2011, 9:14am   #49
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Re: Best Exit Strategies for Forex market ?

NVP started this thread yep the Turtles did

jees thats a long time ago now

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