When to Exit a Trade ?

[rsh01]

when you will see that your trade losing day by day I think that is the best time to exit.

Speechless

 

[PATrader]

There are many ways to exit. It depends on you and what kind of plan/strategy/tools you have. You can exit through your tools, your support and resistance levels. You can even exit using fundamentals. So your question, although simple, has also quite broad answers. I think you should state down what and how you are trading right now before anyone can answer concretely for you.

 

[thelazytrader]

i have perfect plan for benefit in trade and when many times i face to loss advantage from trade and its out of my budget then i leave my all hopes and exit the trade.

 

[wackypete2]

err, yes?, uhhh, I mean no? maybe??


Peter

 

[rsh01]

Haha this thread is now making me laugh, I have gone full circle.

 

[Benj1981]

Haha this thread is now making me laugh, I have gone full circle.

hey rsh, this isnt a laughing matter though. Most traders over leverage and "blow-up", that causes tears, not howls of laughter. Sorry to P on the parade, but needs saying.

 

[Pipsaholic]

Time in a trade is very important take 50-80% off within 2 hours and leave 20-50% on to run with the bigger move of the ADR range till NY close.

 

[FringFX]

This is how I determine my stops:

How did you come up with these graphs, what application did you use?
Thank you 0007

 

[fitzgeral]

Thorough, nice records.

I am also on the wavelength when it comes to logging trades taken, their entry merchant account provider parameters and how they turned out. Exit rules are possibly even more vital than for entry and unless you know what you've done, how can you repeat it, let alone improve it?

Excellent information

 

[Silent Trader]

Aside from the trolls and spammers in some posts, there were also great, educated, answers here.

BabyPips is a great site, and the discipline recommended in the previous posts are good answers for the original question.

As a scalper, I have minimum goals. I exit a trade when my stop-losses are reached, or when I reach my limits, or before - but never after.

I'd rather lose some pips than overextend myself and not lock in my profits. I don't risk much and if the trend continues I may enter immediately after my limit takes me out of a trade.

ST

 

[angelnish]

angelnish - this is the best question in trading and the hardest to answer. I can tell you my current thinking, still developing, don't regard this as the only right answer.

(Please note I am a swing trader and find my average holding period is 3 sessions, including the entry and exit sessions. this applies whether the trade is closed automatically or manually and whether it closes for a profit or a loss.)

Day 1 - Set profit target for half position at r:r = 1:1. so for every £1 I am risking on a position I will bank 50p if price goes into the black. The remainder has a trailing stop.

Day 2 - Close remainder of position as session ends if 1:1.5 or better.

Day 3 - Close remainder of position at 1:1 or better or in any case as session ends.

You will see I am not trying to wring the last £ from any position like the books tell us, I am trying to bank profit early before it goes back into the market (while I was temporarily right) and get out of the market to release resources for the next trade. Maximising r:r is for me at least a vain ambition: I might be right temporarily, but I just can't stay right for long enough to get a 10-bagger.

It's possible this approach will only make sense in markets with a closed period each 24hrs. Please note also I can't screen-watch continuously but have to dip in at midday and in London's last haf-hour.

Great!
Thanks for sharing Tomorton.

 

[belekas]

Completely depends on what kind of setup I'm trading and on what basis. Intraday, intraweek, intramonth or intrayear. In a nutshell they go like this:

1. ADR/AWR/AMR/AYR.
2. EOD.
3. Pattern MOT (measured objective target).
4. MACD MMRT (minimum must reach target).
5. Gaps and other technical levels.

Regards.
Bel.

 

[qe3]

when you want it to rise more