T2W Bot
Staff member
Traders spend most of their time researching setups for trade entry, using fundamental analysis, chart patterns, signals from technical indicators, or some combination of these.
Yes, no doubt about it, finding entries is vitally important, because the entry is the foundation upon which a trade is built. However, if finding good entries is the most difficult thing, finding good exits is the most emotionally challenging part of the trading process!
Winning or losing, deciding on the exact time to close your trade can drive you nuts.
Common exits occur when traders get stopped out at a stop loss level, close the trade into high volume spikes, or attain predefined targets.
All trades should have a stop loss in place. Some traders hold a mental stop, others place physical stops in the market. Initially the stop is set at some level representing the maximum risk the trader is willing to bear if the market turns against the trade. Later, if the trade moves favourably, stops can be...
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