Best Exit Strategies for Forex market ?

NVP

Well-known member
Jun 21, 2004
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#1
hey all

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 ? :whistling


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 ? :smart:
N
 

francisfinley

Active member
Jan 27, 2008
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#3
i use steve hopwoods mptm.

i can put a trade on a walk away/carry on coding without being glued to the chart watching a line and my life waste away. :clap:

that works for me.
 

wackypete2

Well-known member
Sep 24, 2008
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#4
If you are looking at 1h or higher and you are in profit then a good exit would be a break of the 20ma. I like the 20ma because it allows for some breathing room and gives nice re-entry signals if price breaks back in your favor.

Peter
 

Black Swan

Well-known member
Nov 24, 2008
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#5
i use steve hopwoods mptm.

i can put a trade on a walk away/carry on coding without being glued to the chart watching a line and my life waste away. :clap:

that works for me.
is that your Mum's pmt?
 

NVP

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Jun 21, 2004
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#7
If you are looking at 1h or higher and you are in profit then a good exit would be a break of the 20ma. I like the 20ma because it allows for some breathing room and gives nice re-entry signals if price breaks back in your favor.

Peter


yep .....I love the 20ma ..its a really good workhorse across the board

N
 

NVP

Well-known member
Jun 21, 2004
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#8
in theory I would say to people

following setting the intial S/L for the trade (based on a decent S/R level below the entry point)

then keep moving the stop as successive key Resistance or support levels are created in the advancing and profitable trade

in theory thats great...........but in reality .............hey reality is another kettle of fish as we all have lives to lead !! :p

N
 

NVP

Well-known member
Jun 21, 2004
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#9
yea !


thanks to who responded

another thread on exit strategies bites the dust..........thats why theres so few successful traders I Guess......:cry:

N
 

Shakone

Well-known member
Feb 27, 2009
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#10
Well, there is a lot to it. First there's exiting when things are going well, separately is exiting when things are not. Then there's the case where the exit depends on the entry. If I enter on a breakout expecting momentum and it immediately pulls back and goes lower with no momentum, then I may exit immediately. If you enter on a pullback in a trend and it goes lower than entry, then that may not be an issue and you'd hold it. Then there's management of the stop just in case, and then there's multiple exits. There's a lot of thigns that you could discuss.

Are you looking for all of these? Or profit exits? Stop management midtrade?
 
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NVP

Well-known member
Jun 21, 2004
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#11
Well, there is a lot to it. First there's exiting when things are going well, separately is exiting when things are not. Then there's the case where the exit depends on the entry. If I enter on a breakout expecting momentum and it immediately pulls back and goes lower with no momentum, then I may exit immediately. If you enter on a pullback in a trend and it goes lower than entry, then that may not be an issue and you'd hold it. Then there's management of the stop just in case, and then there's multiple exits. There's a lot of thigns that you could discuss.

Are you looking for all of these? Or profit exits? Stop management midtrade?
Hi S

anything people want to talk about or share.......its far more important than the entry point (that sadly occupies 90% of all trading threads in the cosmos) :whistling

N
 

andycon

Active member
Nov 8, 2008
170
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#13
hey all

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 ? :whistling


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 ? :smart:
N
I would agree that most people have far to much emphasis on the entry strategy and then seem to wing it on the exit, with either no strategy or a very lose one, and this is why they fall prey to the emotions of fear and greed either holding out to long (greed) or cutting it early (fear). I believe the exit strategy should be predetermined at the time of entry based on the risk / reward ratio and the win / loss ratio of the system being used. If the trade looks like it is going to fly past the exit then I will still exit as planned and wait for the next set up, the exception to this is if your entry criteria is generating a second entry signal which will allow you to push further out your exit point and if you wish add to your trade and tighten your original stop.
 
Jan 9, 2011
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#14
Round numbers and s/r levels, prior highs and lows.

Or

Try a two candle trail, 1 candle with very sharp moves, tighten up sharply if you get a strong reversal signal. I do everything on the close.