Trading over the last 8 years, I have come to realize the significance of setting targets, during each trade.
Anyone with relative trading experience, is fully aware of how to enter trades but not so comfortable with knowing where to set targets. The profitability of any trade, boils down to the exit.
During a trading position, I monitor and use a number of variables to sell out of a position.
1. Defined Targets
If the current trading range is small, lack of economic news and limited upside potential, I tend to look to sell out of all my positions at one target. This target will be set using Fibonacci extensions, trendlines or next prominent high points (if I am long).
2. Scaling Out of positions
If the market is in a trend, and your intuition and experience tells you that there might be an extended price move in the direction of your trade, then I will set 3- 4 target points (dependent on the amount of lots you are trading), e.g. 4 mini lots with 4 targets. This means that I am selling a mini/micro/large lot, as the price tests each target. In effect, I am maximizing the trading opportunity as it continues to move in my favour.
3. Trailing Stop
This exit strategy according to my system, is based on the premise that you have entered a trade with an objective, of a potential start of a new trend, generally on a larger timeframe 2, 4, 8 hour timeframe. Once the price hits the target levels, I will not sell out of any positions, but trail my stop first to breakeven. This action prevents a loss on the trade, then the next step will be to trail the stop to the first target, as it hits my second target my top will move to the first target. This will continue until the price retraces and hits my stop order. During the life of the trade, no lots are sold out. I am trailing the full trade size and locking in profits as the market continues to increase (trade long).
The above is my view on a part of trading, regardless of your account size. This is by now means the whole strategy (I could be here for ages

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To your success.