Exit from a trade

Exit from a trade depends on your trading strategy. It is also a part of your strategy. For scalping some people target very few pips. For long term trading risk reward ratio, support and resistance and many aspects are there to decide. Sometimes market situation demands an early exit.

What is the question ?

All you are saying is true .. but ??

If a trader does not follow the risk rewards and money management properly, he will never be able to become a successful trader.

UweMoench posted:
Exit from a trade depends on your trading strategy. It is also a part of your strategy. For scalping some people target very few pips. For long term trading risk reward ratio, support and resistance and many aspects are there to decide. Sometimes market situation demands an early exit.

Yes having a good strategy is very valuable to make money but you can only make your own strategy if you have good experience in Forex trading.

I just don't understand such discussions. Where is the description of your question? what exactly you are interested in or perhaps you have a problem with it? You are speaking simple truths, and there is no point in arguing here.

Just let's make this place interesting and share really worthy information.

Samuelkoi posted:
I just don't understand such discussions. Where is the description of your question? what exactly you are interested in or perhaps you have a problem with it? You are speaking simple truths, and there is no point in arguing here.

Just let's make this place interesting and share really worthy information.

I think he is sharing the simple statement regarding exit from a trade but nothing else.
Although, I would say that this fit well in new trader section, not in general one.

I agree with you. Proper trading plan should contain both entry and exit condition of a trade.

You should make the right decisions at the right time to survive in this risky market.

If we are here to post generally understandable facts, then OK, I can do that too...

In order to open a trade, you need to correctly determine the entry point and know in advance the target for the exit.

But this is unlikely to help someone trade better...

downtown posted:

Samuelkoi posted:
I just don't understand such discussions. Where is the description of your question? what exactly you are interested in or perhaps you have a problem with it? You are speaking simple truths, and there is no point in arguing here.

Just let's make this place interesting and share really worthy information.

I think he is sharing the simple statement regarding exit from a trade but nothing else.
Although, I would say that this fit well in new trader section, not in general one.

ya..there is no point of creating threads then.

I don’t risk more than 2% of my trade. This is something I’ve been doing for a long time and it is actually an effective strategy.

this is a question i believe no one can answer. i think all the people have different strategies towards the trade. there are few people who calculate using the percentage and there are few who look at the market. So i dont think there could be any specific answer to it.

I consider timing an exit more important than when to enter. You can enter a trade at almost any time and make a profit as long as you time your exit properly

You are correct in pointing out that it all depends on strategy.
But it can really undo all the things you've done before, so you definitely have to be careful here.

It is not possible to make money if the trading strategy is not right. You need to know which is the most profitable strategy. And it is possible to make a consistent profit by trading in any way.

People have different opinion on when to enter or exit the trade depending on their trading style.

Set TP and SL at beginning of the trade. Don’t adjust it after seeing the change of price action.

SofieAndreasen posted:
Set TP and SL at beginning of the trade. Don’t adjust it after seeing the change of price action.

TP and SL are the most important element for new traders to survive in this market

SofieAndreasen posted:
Set TP and SL at beginning of the trade. Don’t adjust it after seeing the change of price action.

I also think hidden in this is to let the trade run as it wishes. Any alterations to TP or SL really damage your sample size of trades and also create doubt