Trading and Exits

[nine]

Blackcab's profit target is good. When I was trading eurofx I used to have one target that most moves would hit (about 14 points for a 7pt or lower stop) and another that would be hit on the bigger moves (30+ but pulling stop to be+ after around 12pts was reached).

Another approach would be to drop to your 3m chart (try 1m as well) and look at the CCI. When you get a thrust that is divergent on the CCI then either trail the stop behind each bar or wait for one more thrust and then trail behind each bar. Finding the right relationship will depend on what you trade and the timeframe but the CCI because it isn't smoothed gives you a very responsive divergence signal.

That way you combine a target with an alternative if the move loses momentum.

 

[Citizen2007]

Jacinto

I will post some charts of my trades once i have worked out how to save them and upload them. Mesing about with it now.

Kiwi

I have been using this approach this morning on some of my trades and its amazing how much less enregy I am expending.


Thank you

 

[Citizen2007]

Ok, here is yesterdays trading . I used limit orders yesterday, about 5 pips below the actual levels showed here on esignal charts because cmc prices differ.

After my first level was hit and took part profits, I closed my second lot at the second level.

I have attached the charts without any indicators, though i use MACD on cmc.

Looking back at the charts now, i can see that it would be quite possible to stay in the trade on the after the first level is reached because only a minor retracement. But after the market reaches the second level, how do I or can I know (from a mechanical perspective) to get out and exit my trade or lock in profits .

My question is how can the exits on the two levels be differeentiated ? How can i determine whether to stay in because the market is still going up as in the first trade. And how I can determine that i should now exit and take my profits at the second level ?

Is there an indicator that can show this with failry good accuracy?

I have attached the 60M/15M and 5M charts


Thank you

 

[nine]

Try the CCI suggestion above. Take half off at a point that gives you a high probability return and then wait for divergence with a trailing stop on a lower timeframe. That will keep you in for the momentum at that level ... but you never get all the money, be happy to become consistently profitable.

Or do it in thirds.