Exit Strategy.

[elektra]

however, the term risk is closely related to the amount of pip you are willing to lose (in the form of SL or hard SL).
if you risk 5% but the SL is 150 pips it is not as risky as risking 1% with 10 pips SL.
trader need to find his/her own comfort zone to be able to execute the trades well.

[jg6073727]

this strategy is not easy to understand by every one. There are endless forex strategies. You must adopt 1 or 2. If you have more then you are more confused in their use. So use only one or two never more

[kalponick]

what good of that strategy if its only showed you when to enter but keep you in frog about when to exit? It cant be a full fledged strategy at all... because you can lose many potential pips and sometimes even a trade for this.. Because price reversed all the time.. so if you did not get out at the right time then your winning trade can become into a losing trade..

[Nabi Ahmed Gill]

You may have the best of trades that turned into a loser, or u lost extra pips. Or, you had a bad trade that made unexpected pips.
Both of these are telling us something. The exit is just as important as the entry!

Besides exiting around areas of support or resistance, sometimes we feel disappointed by either not closing out earlier or closing out too late (lost some profit)

well, this is a simple method i've created tohelp keep pips on the table. It is quite simple, i give it in 3 steps

1. Three bars after entry move your SL to B.E (break even)
2. When another bar has formed, count from the new bar 3 bars a back (lets call it bar X).
3. Place your SL at the low of (bar X) for buying positions or at the high of the (bar X) for shorts

My backtest shows that if the trades are bad, u will be stopped out early without losing much. If the trade is good (lots of long bars) you will be stopped out when the trend is first exhausted.

Worked for me, hope it worked for you.

P.S, just pick a direction and try it...I know it sounds silly (funny to me too) but this is just my observation. Hope you can double check it with me and report your findings.

Forex trading forum main agr ap ko achi trading karni ah or ap chata han k haum exit strategy bnaa chata han to ap kud ak achi se aor best strategy bana koi be ho ow kam kara ga wo ap ko fadia dya ge agr ap na asa he ksis ke strategy par kam ka to ap ko koii fadia nhi ho ga maara hassba sa ap ko apni exit strategy banine par ge,

[sinaga]

every trader must have a different strategy in the trade. exit strategy might think I have a sense of where we should be able to take the decision out of the trade when we make mistakes. we should be able to see the trend of market prices. with it we will be able to understand when we go in and out of the market.

[elektra]

I think, in every OP Trading, we have planned everything to do with our activities. Includes strategies to use, how many SL, how TP, when the exit. I always make the SL, but do not always make the TP, especially for pairs such as GU. In my mind, GU can give us the hope of getting a big profit. So I do not draw the line TP. If in a given time is profit, I usually exit.

[dwik]

All strategy that any forex trader uses must have to involve exit strategy. If this is missing, then it is obvious that a trader would have losses and inconsistent results in many of their forex trades.

Yes, sir. should any system or strategy should include an exit strategy rule. because of this very influential on our account.
should use the exit strategy when our account is in danger, because it could have just bounced off and continued price trend

[netra]

Your strategy will have made sense if you describe it a little bit more. On which time frame do you select the bar. If not know what time frame then how can trader know where to put break even stop loss or stop loss. Strategy cannot not work in any timeframe as different time frame show different type of bar. So my question is, which time frame you use in backtest of strategy?

[ishvara]

All strategy that any forex trader uses must have to involve exit strategy. If this is missing, then it is obvious that a trader would have losses and inconsistent results in many of their forex trades.

[rookie001]

You may have the best of trades that turned into a loser, or u lost extra pips. Or, you had a bad trade that made unexpected pips.
Both of these are telling us something. The exit is just as important as the entry!

Besides exiting around areas of support or resistance, sometimes we feel disappointed by either not closing out earlier or closing out too late (lost some profit)

well, this is a simple method i've created tohelp keep pips on the table. It is quite simple, i give it in 3 steps

1. Three bars after entry move your SL to B.E (break even)
2. When another bar has formed, count from the new bar 3 bars a back (lets call it bar X).
3. Place your SL at the low of (bar X) for buying positions or at the high of the (bar X) for shorts

My backtest shows that if the trades are bad, u will be stopped out early without losing much. If the trade is good (lots of long bars) you will be stopped out when the trend is first exhausted.

Worked for me, hope it worked for you.

P.S, just pick a direction and try it...I know it sounds silly (funny to me too) but this is just my observation. Hope you can double check it with me and report your findings.

I could not help agree more with most of your post ... except one thing. Your strategy for exiting ... it won't work on more than average occasions ... so we can't set it as standard. On the other hand, there is always a different gait of the market that has to be taken into consideration ... have you ever noticed that some times when a new bar opens it moves up but ends up going down ... and almost all the bars do that. Vice versa for bullish bars ... but at some other time ... a new bar will open and price would just not move ... there is this difference within price action ... if you look at the volumes in relevance to this particular shade of price action you will know a great deal about market behavior and would even be able to understand why your indicators behave in a certain way and when. Good luck!