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Exit Strategies

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Hi Whitta,

Here's something else for you to consider, I sometimes use it myself

If my trade shows a good profit, i.e.has been trending well, I will check out the next major timeframe above - and if it looks promising - I switch my management to the higher timeframe.

This keeps you in the trade longer and gives the possibility of a higher return, this works well in a strong trending market

(I assume that you are a discrectionary trader)

Hi Edge,
I think Whittas entry was a "pin" type entry - which is quite commonly used in the FX - i.e. small body, large tail, open/close within the spread of the last bar - entry when price breaks the pin " nose"
 
Another way to do it is have partial exits.
Using the SPI fpor example have 3 contracts sell 1or 2 let the others go.
But I would strongly suggest looking into VSA to add to your arsenal.
 
When your palms start sweating and you scream out at the unfairness of it all, with the agony overwhelming your entire being; then you go on ASF and commiserate with the others 'investors' and post all sorts of bullish things to cheer yourself up. :
 
skyQuake said:
When your palms start sweating and you scream out at the unfairness of it all, with the agony overwhelming your entire beingp:
Click to expand...

DE JA VU?

You just gave me it, of................EVERYDAY!!!!!!

I will FIND YOU.............
 
I exit on:

1. A Time Stop - when my trade fails to be in profit after a pre-planned amount of time.
2. Breakout on poor Volume.
3. Break of support.
4. Anytime my stoploss is hit!

regards
 

Hi Guys,
Just got back from hols up in whitsundays.
Yes u are correct...its the Darryl Guppy idea for trailing stop.....covered in his book trend trading.
The CBL needs a CLOSE below the CBL BEFORE being activated....so do not think it would have been triggered as u suggest.....so would have been still in the trade.
But I am still learning so dont biff me if I am wrong.
Cheers,
 
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