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; Originally Posted by Toulminator If you take the standard 2% of account as your margin and then you split that ...

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Old Mar 3, 2013, 9:46am   #91
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Re: Best Exit Strategies for Forex market ?

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Originally Posted by Toulminator View Post
If you take the standard 2% of account as your margin and then you split that with multiple entries you get the situation where your risk is effectively doubled or the same, your losses are doubled and your winners dont do as well. I have experimented with this and rejected it as a course of action. An example as follows:
EUR/USD 10pip stop with 2 contracts:
losing trade -20
winning trade +10 ( take profit) and then it has to be +20 to be 1:1 risk to reward
As a newbie I am especially looking for exit strategies. At the moment a take profit of a set amount is the best way forward for me. I suspect that if I am still in the game in a years time I will be letting my winners run more than I do at the moment and experience will take me out.
Are there any indicators that will help with exiting?
Thanks for your reply
hmmm........I dont think we are on the same wavelength dude.....you really need to look a little more closely at the concept of multiple exit strategies ..and I would advise not to set to much around targets ....they inhibit the fat tails out there ......

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Old Mar 3, 2013, 1:55pm   #92
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Re: Best Exit Strategies for Forex market ?

Hi, Google Chuck LeBeau on trailing stops using the Chandelier method. It' serves me well.

Regards Legslapper

I had a hunt around but its pretty thin on the ground out there regarding what is the best Exit strategy for a trade (let alone Forex specific)

so c'mon lets get to business and decide / Debate the area that is actually more important than the billions of threads on Entry points......any idiot can enter a trade ........but when to leave the party ?


Ma's ?
Targets ?
Price action Support / Resistence levels
Trailing Stop losses ?
any other indicators ? (eg SAR ?)
News releases ?

whats your favourite and why ?..or do you combine multiples ?
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Old Mar 3, 2013, 2:47pm   #93
 
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Re: Best Exit Strategies for Forex market ?

Quote:
Originally Posted by Toulminator View Post
If you take the standard 2% of account as your margin and then you split that with multiple entries you get the situation where your risk is effectively doubled or the same, your losses are doubled and your winners dont do as well. I have experimented with this and rejected it as a course of action. An example as follows:
EUR/USD 10pip stop with 2 contracts:
losing trade -20
winning trade +10 ( take profit) and then it has to be +20 to be 1:1 risk to reward
As a newbie I am especially looking for exit strategies. At the moment a take profit of a set amount is the best way forward for me. I suspect that if I am still in the game in a years time I will be letting my winners run more than I do at the moment and experience will take me out.
Are there any indicators that will help with exiting?
Thanks for your reply
I don't understand your example. You have a 10 pip stop, if you lose you lose 10 pips per contract (-20 total). If you profit you take 10 pips as first target 20 pips as 2nd target, then you have 15 pips per contract (+30 total), and a risk reward of 1:1.5, right?
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Old Apr 25, 2016, 5:54pm   #94
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Good thread. I am struggling with my exits with one of my strategies. In fact, I am struggling with exists across all my strategies, but one in particular. My favoured get out is at support and resistance levels. But when it gets there I find myself holding in the hope that S/R would break. Because when it breaks there is a chance the price could speed through for substantial number of extra pips. Also, how much value do you guys put on support and resistance below the daily? Do you guys find support and resistance on the hourly, for instance, credible?
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Old May 1, 2016, 1:09pm   #95
 
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Originally Posted by Reds28 View Post
Good thread. I am struggling with my exits with one of my strategies. In fact, I am struggling with exists across all my strategies, but one in particular. My favoured get out is at support and resistance levels. But when it gets there I find myself holding in the hope that S/R would break. Because when it breaks there is a chance the price could speed through for substantial number of extra pips. Also, how much value do you guys put on support and resistance below the daily? Do you guys find support and resistance on the hourly, for instance, credible?
You obviously have to refine your S/R exit strategy then if you are constantly second-guessing it.

It sounds like you are trying to play an S/R entry strategy simultaneously rather than concentrating on the exit strategy. You probably just have to clarify exactly what you are trying to do.
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Old May 1, 2016, 9:06pm   #96
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NVP started this thread Jees is this back in play ?.......thought we'd buried this years ago

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Old May 1, 2016, 9:13pm   #97
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Originally Posted by Reds28 View Post
Good thread. I am struggling with my exits with one of my strategies. In fact, I am struggling with exists across all my strategies, but one in particular. My favoured get out is at support and resistance levels. But when it gets there I find myself holding in the hope that S/R would break. Because when it breaks there is a chance the price could speed through for substantial number of extra pips. Also, how much value do you guys put on support and resistance below the daily? Do you guys find support and resistance on the hourly, for instance, credible?
Welcome to trading......exit strategies should be hard wired into your trading strategy the same as every other element.....my only advice is to consider taking profits out of a trade as you go ......it's called a lot of things by different people but works pretty well......you never achieve 100% return on a good run but equally you will extract more than average when the exits are tricky.....when you are calling that tricky s/r Why not take 50% off at that point and let the remaining run ?

All or nothing is not the optimum solution over time and thousands of trades

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Old Oct 3, 2016, 1:25pm   #98
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Originally Posted by mcrlogitech View Post
According to me, the best exit strategy is one which use two EMA and their crossovers. You can practice this strategy on platforms like Signalstime to be more confident..
get off the thread and stop trolling everything at Trade2win please ?
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