Thread: Exit Strategies...

This thread is getting interesting, I am also looking for the ideal exit egy. . .but havent found one yet. . .the oppinions of pros here Are Certain to come in handy

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Originally Posted by ;

Dear All,

I am using a straightforward Trend Following Method (trendlines largely ) that is giving me great entrance points, however on pairs like EURUSD I have a few hundreds in green, and then the trade reverses and most time leaves me little or no profit. The exit egy I am using (which evidently isn't working) is to exit on final above/below 75 EMA. I want to hear from all of you, what is your exit egy?

Thank you for your time!

Here is an EA which Caveman wrote for me after this request.
*********
Hello people,
As a few of you know I've, only recently, moved to a MetaTrader Platform.

Consequently, I am now without a few of the Tools I used to carry my toolbox. funny how learning another language can, occasionally, make you feel lost

This isn't something which you'd be likely to use on a Scalping Method but moreso on among those Trades which take off you are up 50P before you know it.

Here is how it works. Let us use a Long Trade for instance.

I Buy EUR/USD @ 1.3500 before I know it I'm UP 50P.
Q) If I Grab the 50?
Q) If I Wait See?
Q) Should I Transfer SL to BE?
Q) Should I Set a Trailing Stop?

My Response: Set a Trailer.
A) in 40P by Risking 20 percent of Your Maximum Gain.
50*0.2 = 10.
50-10 = 40 LOCK.
New Risk = 10P

Here is where it becomes interesting.
Notice that in the preceding example I risked 10P of my 50P Profit.

What Happens when I am Not Stopped Out my Profit runs to 80P?
Same matter. Risk 20 percent of Max Profit.
Max Profit = 80P
80*0.2 = 16
80-16 = 64 LOCK
New Risk = 16P

yeah yeah; reduce'n paste but that is how simple it really is.
What happens IF I am Not Stopped Out my Profit runs to 160P?
Same matter. Risk 20 percent of Max Profit.
Max Profit = 160P
160*0.2 = 32
160-32 = 128 LOCK
New Risk = 32P
So: In those three, simple examples, Our Risk jumped From 10P to 32P...
But: Our moved from 40P to 128P

NOTICE:
My Risk is Rising to a Pip Scale.
My is Additionally Rising.
My Chart has moved from the 1Min to perhaps the 15Min.
If this keeps up I could be about the Daily Chart before tommorow.
********
https://www.forexsoutheast.asia/gene...e-80-20-a.html

Great for sharing..how come I never thought of the...?

I'm looking forward to other methods

Simplicity works for me. First move is to b/e and take partial profit from places. I proceed by closing 75% of my profit in target level and allow another 25% ride until end of day per week. It all depends on how you trade.

Curious, are you really nervous if you get out with 300 pips the market will continue to go up without you?

Curious, after you're up 300 pips would be the 230 left after a retrace not satisfactory for you now?

Birdt was barking up the exact same tree with a couple of the things he asked, about milking the market and such.

Based on the way you feel about these scenarios, have you considered maybe not exiting? Take 1/2 - 2/3s off of this table and set the rest with a SL to BE. Exit the rest when you don't want to maintain the trade almost any longer. Usually this will be established by needing to go the other way, right?


Till you receive your sign to brief (the exact same kind you got for moving long), there is not a lot you can look ahead. You're basically giving the most important part of trading, departing, a second class status by focusing on the entry sign first, using an exit sign egy not worthy of being your entry. Think of it this way, why is your departure egy great enough to take you completely out of a market, yet not great enough to get you in the other way?

This is why so many find departing so hard.

It is much better to close half of this position once half of this goal is reached and then move sl to break-even to the remainder half till goal is reached or till alteration signal.is obtained.

Originally Posted by ;

Curious, are you really anxious if you get out with 300 pips the market will continue to go up without you?

Well, not really, but with my own setup I have been receiving quite a few 200 to 300 pips proceed but my departure egy is getting me out of that trade below 100 pips.

Originally Posted by ;

Curious, once you're up 300 pips are the 230 left following a retrace not satisfactory for you today?

Ofcourse they are, I just want to apparatus a egy which sort of a take care of sudden spikes (such as a few 100 pips go and back) and getting out me at some sensible profit also allowing me ride the trend even if it stretches to a few days.

Originally Posted by ;

Birdt was barking up the same tree with a couple of the things that he asked, about trapping the market and such.

Depending on how you are feeling about these situations, have you ever considered not exiting? Take 1/2 - 2/3s from this table and set the remainder using a SL to BE. Exit the remainder when you don't want to maintain the trade almost any longer. Usually this will be established by needing to go another way, right?

Well, for now that I just enter and exit completely, I'll be starting to trade not so much of a sum so for sometime, I wont be trading with that lots of lots to be split.

Originally Posted by ;

Until you get your sign to short (the same type you got for going long), there isn't a whole lot you can look forward to. You're essentially giving the most important part of trading, exiting, another class status by focusing on the entrance sign first, using an exit sign egy not worthy of being your entrance. Consider it this way, why is the exit egy great enough to carry you completely out of a market, yet not great enough for you in another way?

Well, I'm trying to enhance my egy step by step. I sooner had problems with getting at the wrong time with most of my trades, today I've reduced it to some of my trades , also looking at ways to decrease the losses at the terrible trades. I understand I can not completely eliminate bad trades, but I am attempting to exit early before awaiting the SL for struck. Then comes this exit egy for your winning trades, to not get out early. That is why opened up this thread, I want ideas from you people who are in this business a lot more then me.

Originally Posted by ;

Here is an EA that Caveman wrote for me after this request.
*********
[I]Hello people,
As a few of you know I have, just lately, moved into a MetaTrader Platform.

Therefore, I'm now without a few of those Tools I used to carry in my toolbox. amusing how learning a different language can, sometimes, make you feel lost.

This isn't something that you would be likely to use on a Scalping Method but moreso on one of these Trades that take off you're up 50P before you know it.

Here is how it works. Let us use a Long Trade as an example.

I Buy EUR/USD...

Thanks a lot, I also was thinking along that lines, not as such deviced any specific formula, but doing something such as tracking the SL in measures of e.g. 50 pips insteadof pip per pip, locking 50 for 150 increasing the step size as we move deeper to the green.

Originally Posted by ;

Simplicity works for me. Take and first move is to b/e partial profit from places. I proceed by shutting 75% of my profit in goal level and let the other ride. Everything depends on how you trade.

Thank you Mack for your reply, I'll be investing for sometime single miniature lots due to my first deposit, so for now being exiting partly out of a trade is not feasible for me.

Originally Posted by ;

Curious, are you really anxious if you get out with 300 pips that the market will continue to go up without you?

Curious, after you're up 300 pips are the 230 left following a retrace not satisfactory for you now? ...

Your remarks handle an area I have always been quite sensitive about. Greed. Of course 300 pips is a trade that is good. . .to anywone, and yes 230 is also great after a retrace. However, when trading bigger time frames, 1 MUSt allow the market to breath, therefore it is completely feasible to see that your 300 pip exchange reverse on you long before the following entry sign comes together.

Why not simply exit? Sure. . .When? Underwhat conditions? Using which price pattern? Time framework? These really questions are what n00b is trying to reply.

I really don't know about you but I HATE it when I exit with 125 pips and then watch the market continue for another 200 or more at precisely the same direction. Is this greed. . .yes in a sense I guess it's. However, more importantly it's merely inefficient and bad management.

My personal method and kind of trading is trend following. There are a mountain of methods used to get into markets. . .trends. . .however, leaving is a completely seperate issue and worthy of research. It is inefficient to state you will utilize an opposing entry sign as an exit. I.e. a brief entry sign to exit a long position...

that's why market volatility is so important. The market breaths in and out, and we can observe that in chart moves. By keeping track of the pattern we can observe that when volatility disappears, price slows down or reverses. . .for me. . .this is a really effective place to exit or at least lock profit using a tighter stop.

How far price will traveling is anyones GUESS. . .No you can forecast the behviour of future markets and it's our job to handle our trades as efficiently as possible in order to gain maximum advantage. To mention that 300 pips is adequate is really quite arbitrary. You have to qualify it by saying 300 pips at a 350 pip range is execellent! But, 300 pips from a 1200 pip trend is poor management.

Utilizing market volatility to project a price target will expand your target once the market is moving and reevaluate it as it fades. It is lively and allows the market to tell you if its time to take profit...

Again, only my opinion