When should I exit a trade???????

[mark8par]

I know we have all been there but!!!!!!

When do you close a trade and when do you let it run?. Have you had a trade that you let run and then went the wrong way and you wished you had closed it.

What do you do, that is the 1,000,000 question.

tbh its something I still struggle with and I would love to know how everyone else deals with it.

The thing I find hard is exiting a trade at sat 1:4 and it then goes much further

Mark

 

[erebus]

You know in Metatrader, when you drag the Stop Loss line, it tells you on the left side how many pips & how many $ it is set at?

So, just monitor the trade on 15 minutes chart, look at 4H or Daily for levels, check the ADR, what is the news / fundamental?

Keep moving the stop loss to a point where you are happy with the $$$ and far enough from current low / high

If it get hit, watch PA, can always re-enter on a breakout IF you think there is more room for it to move

Just my thoughts, I know what you mean

 

[hafizhanif84]

For me if i got my target for 1:3 that is enough..wont regret at all because there is more signals to come

 

[erebus]

Are you spamming us?

 

[joffie]

Mark, I use the 5&10 ema cross over to exit trades, yes some times I lose a lot of profits but when you catch the big movers you will gain much more than a 1-4 more like a 1-10 or 1-15 when trading this on the 4hr charts, I will trial each trade as price makes higher highs and lows. Attached is a recent trade on the AUDCAD showing what I mean.

 

[Dirk Groenewald]

Hallo Joffie. Can you also start a trade on a cross over and use the 1:3 to TP? I

 

[gauri]

Some traders focus on very short term and exit the position once they reach minimum level of profit.
Thank you

 

[joffie]

Hallo Joffie. Can you also start a trade on a cross over and use the 1:3 to TP? I

That depends when you take the cross over on some occasions it will work but when price is choppy you will get eaten alive. If you wait for the daily to cross then move to the 4hr and look to take a entry then will give you a better chance of hitting more winners than losers.

Joffie