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Traders spend hours improving their login strategies, but then clear their accounts with bad logins. In fact, most of us lack effective exit planning and often shake ourselves at the worst possible price. We can correct this omission with classic strategies that can increase profitability.
Before we move on to the strategies, let’s start by looking at why the retention period is so important. Then we will go to the misunderstood concept of market timing and then move on to downtime and escalation methods that protect profits and reduce losses.
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It is impossible to talk about exits without noticing the importance of a holding period that works well with your trading strategy. The magic time frames are generally consistent with the broad approach chosen to withdraw money from the financial markets:
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Choose the category that best suits your approach to the market, as it dictates how much time you have to record your profits or losses. Stick to the parameters, otherwise you risk turning a trade into an investment or a game of momentum into a scalp. This approach requires discipline because some positions perform so well that you want to maintain them beyond time constraints. While you can extend and push a bearish period to take into account market conditions, you build confidence, profitability and trading skills if you make your exit within parameters.
Get in the habit of setting reward and risk goals before starting any transaction. Look at the graph and find the next level of resistance that is likely to occur within the time constraints of your retention period. It marks the reward goal. Then find the value that will prove you wrong if the security turns and hits it. This is your risk measure. Now calculate the ratio between reward and risk and look for at least 2: 1 in your favor. All the less and you should skip the trade and make a better choice.
Focus on trade management at the two most important output prices. Suppose things go your way and that progressive price moves towards your reward goal. The pace of change is now in play because the faster it reaches the magic number, the more flexibility you have to choose a favorable exit.
Your first choice is to go out of your way, slap yourself on the shoulder for a good job, and move on to the next trade. A better option when the price is moving strongly in your favor is to let it exceed the reward target and place a protective attitude at this level while trying to increase profits. So look for the next obvious obstacle, stay in your position as long as it does not violate your booking period.
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Slow progress is more difficult in trading because many titles will approach but will not reach the reward target. This requires a profit protection strategy that starts when the price has covered 75% of the distance between your risk and reward targets. Place a next stop to protect some winnings or, if you are trading in real time, hold a finger on the exit button while watching the ticker. The trick is to stay in position until the price action gives you a reason to go out.
In this example, shares of Electronic Arts Inc. fall. (EA) in October, which downgrades the low of August. Reactivates support two days later and issues one
Mark, as defined in the 1993 classic “Trader Vic: Methods of a Wall Street Master.” The trader calculates the reward / risk as follows and plans an entry close to $ 34 and a stop-loss just below the new support level:
The position goes better than expected and exceeds the reward goal. The trader responds with a profit protection stance exactly to the reward target, increasing it every night as the uptrend progresses further.
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Stop should go where you will be taken when a security breaches the technical reason you made the transaction. This is a confusing idea for traders who have been taught to place stops based on arbitrary prices, such as a 5% withdrawal or $ 1.50 below the entry price. These positions do not make sense because they are not coordinated in the characteristics and instability of that organ. Instead, use technical characteristics violations – such as trend lines, round numbers, and moving averages – to determine the physical stop-loss value.
In this example, the stock of Alcoa Corporation (AA) is rising higher with a steady upward trend. It stops above $ 17 and retreats to a three-month trend line. The subsequent bounce returns to the highest, encouraging the trader to enter a market position in anticipation of a breakout.
Common sense dictates that a violation of the trend line will prove that the rally position is wrong and requires immediate exit. In addition, the simple 20-day moving average (SMA) aligns with the trend line, increasing the likelihood that a breach will attract additional sales pressure.
Modern shopping requires an extra step in effective stop placement. Algorithms now regularly target common stop-loss levels, shake off retail players, and then repeat support or resistance. This requires stopping away from numbers that say you are wrong and need to leave. Find the ideal price to avoid them
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As a general rule, an extra 10 to 15 cents should work in a low volatility transaction, while a momentum game may require an additional 50 to 75 cents. You have more options when searching in real time because you can abandon your original risk target and re-enter if the price jumps above the questionable level again.
For an exit approach escalation, raise your standstill as soon as a new transaction makes a profit. This can build trust because you now have a free trade. Then sit back and let it run until the value reaches 75% of the distance between the danger and reward targets. Then you have the option to complete it at the same time or in pieces.
This decision monitors the size of the position as well as the strategy used. For example, it does not make sense to split a small transaction into even smaller parts, so it is more efficient to look for the most convenient time to discard the entire bet or apply the stop-at-reward strategy.
Larger positions benefit from a step-by-step exit strategy that leaves one-third at 75% of the distance between the risk and reward targets and the other third at the target. Place a next stop behind the third track after overtaking the target and use this level as an exit from the cliff if the position turns south. In time, you will find that this third piece is a lifesaver that often brings significant profit.
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Finally, consider an exception to this step-by-step strategy. Sometimes the market distributes gifts and it is our job to pick the low fruits. So when a news shock causes a significant gap in your direction, leave the whole post immediately and without regrets, following the old wisdom: Never look a gift horse in the mouth.
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I never stop learning and trade is the business that saved me from the darkness. So I have all the reasons in the world to never stop improving and winning properly.
I still remember when I was a beginner. 10-30 stones in profit as well as in loss caused me worries. There was still a long way to go again and I did not know anything about trade yet. Therefore, I studied constantly and decisively until I was exhausted.
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