- Aug 12, 2015
This question might have appeared several times but I really need help.How do I exit a trade? I have gone through most of the comments here but cant seem to understand.Please help me
I always move my stop to fresh consolidation zones within a trend. Not exactly a trailing stop, but it does allow me to protect profits and re-position my stop as near as possible to logical SR levels. I continue this process until my stop is hit or price action signals it's time to go. Have never used Fibs or Elliot, so can't give input on these.Hello guys,
I totally agree with you.Support and resistance levels must be the primary points to enter and exit a trade.Placing stops will help limit initial losses .The use of trailing stops can also help minimize the amount of profit given back to the market.I read that the Fibonacci and Eliot Wave indicators can provide good exit points.Does anyone here have experience using them?
Automatic trailing stops let you sleep at night! cTrader also has this feature.Trailing stop is good feature in mt4 which can used to manage the risk and lock profit, and any trader they can set trailing stop based on number pips option, whether 10 pips or 15 pips or more, this will automatically moved stop loss level if price already floating plus from trailing stop setup, but platform must connected to server broker