hi sunny,
Entry and Exit are the two most important aspect of Trading...
Easy 123 will give you great entry... Exit is something that will depend on the following aspects...
1. The risk appetite of the trader
2. The time that one uses eg. 30 m , 1 hr or 4 hr, daily or weekly.... the profit expectations differs as per the time frames... I can't expect a 100 pip profit on a 30 m time frame and I will not exit with just 10 pips on a daily or weekly time frame.... so it depends on your trading style...
3. The time period when you entered the trade.... example.
If I trade Euro JPY, then the signals that I get when European markets are open will be strong or when the Japan markets are open. But if I am trading a signal that is when both the markets are closed, then the signals strength will be weak. during the time when both markets overlap, the signals profit giving potential will be amazing.... so will my outlook towards the exit....
4. The pair you trade.... yes... each pair has its own pace and amplitude
Exit strategy cannot be explained in a single sentence... it is something that has to be fine tuned as per our own persona as a trader.
Exiting on crossover to crossover will wipe out majority of your profits... that's a complete NO NO.
5-10 pips on 30 min
10-20 on 1 hr
20-50 on 4 hr
this is the dumbest but the simplest way to an exit strategy
Entry and Exit are the two most important aspect of Trading...
Easy 123 will give you great entry... Exit is something that will depend on the following aspects...
1. The risk appetite of the trader
2. The time that one uses eg. 30 m , 1 hr or 4 hr, daily or weekly.... the profit expectations differs as per the time frames... I can't expect a 100 pip profit on a 30 m time frame and I will not exit with just 10 pips on a daily or weekly time frame.... so it depends on your trading style...
3. The time period when you entered the trade.... example.
If I trade Euro JPY, then the signals that I get when European markets are open will be strong or when the Japan markets are open. But if I am trading a signal that is when both the markets are closed, then the signals strength will be weak. during the time when both markets overlap, the signals profit giving potential will be amazing.... so will my outlook towards the exit....
4. The pair you trade.... yes... each pair has its own pace and amplitude
Exit strategy cannot be explained in a single sentence... it is something that has to be fine tuned as per our own persona as a trader.
Exiting on crossover to crossover will wipe out majority of your profits... that's a complete NO NO.
5-10 pips on 30 min
10-20 on 1 hr
20-50 on 4 hr
this is the dumbest but the simplest way to an exit strategy
