When to exit the current trade position? - Page 178
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Thread: When to exit the current trade position?

  1. #1
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    When to exit the current trade position?

    [lang=id]We will always think that "if we didn't close it then we will absolutely make a large deal of money in here."
    But sometimes we will just think like "if we didn't close the deal yesterday then i would have already lost quite a lot of money now."
    So what exactly is the right one in here actualy?
    Here it is!

    1. Make sure that our target already reached

    Just in case that any worst scenario happened in this business, we need to be satisfied only with the current profit we got anyway. If we just want to make unlimited profit then we will pay the price when we loss it quite big. SO if we reach the target better close it.

    2. Make a lot of research if we want to hold position

    Let's say that we are i losing position but we are very reluctant to close our own position in here, then we need to make a research first whether the current price is dangerous or not. Once we have deducted that current condition is bad, then we better close the loss before we loss even more in te end.[/lang]

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  2. #1771
    Rookie Lyon's Avatar
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    Knowing your trading strategy, being that you have gotten to have had experience with it, that should help the trader know how they can deal with their trades, only when you still lack the experience about the way your trading concept works, that is when you will find it hard to close the trades and most often, you will get greedy and want to make so much.

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  3. #1772
    Rookie juniorpeters's Avatar
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    exit the market when you feel your trades is no longer moving as you have planned,this is the way i trade.most trades will not always reach take profit some will reach some certain point and then make a reversal which has caused many traders to lose the profit they should have taken.same goes to stop-loss when you see the market is not moving the way you plan you need to exit the trade in other to avoid losing more money.

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  4. #1773
    Rookie Toyen's Avatar
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    Quote Originally Posted by juniorpeters View Post
    exit the market when you feel your trades is no longer moving as you have planned,this is the way i trade.most trades will not always reach take profit some will reach some certain point and then make a reversal which has caused many traders to lose the profit they should have taken.same goes to stop-loss when you see the market is not moving the way you plan you need to exit the trade in other to avoid losing more money.
    It is all about what the trading strategy of the trader tells the trader to do. There are times that your trading analysis will tell you to make a trade, you will not hesitate when you trust that trading strategy. But in the moment the same trading strategy which you trust tells you to close that trade, you will not hesitate in likewise manner. That is the reason for me to follow my strategies only on exiting of my trades.

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  5. #1774
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    Having a strategy is necessary because with such strategy we can understand when it's the best time to exit a trade and however get prepared in the best means to handle risk. Our position in this market is something we must learn to manage and be ready to understand how we can have the best impact on our trade. I have always make it important to learn and through my knowledge I have come about knowing the best time to exit and see I can close up on profits or minimize my loss.

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  6. #1775
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    Quote Originally Posted by Toyen View Post
    It is all about what the trading strategy of the trader tells the trader to do. There are times that your trading analysis will tell you to make a trade
    this is true time tell us about order but it comes when we have good time of wait, when we wait here our market tell us here to enter and here to exit, but this is also not easy its possible when we have some enough knowledge and experience, if we do not have enough knowledge and experience we can not survive, so do trade and do properly, if you do not have experience you can lose, so do trade on base of management and your learned way

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  7. #1776
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    Quote Originally Posted by naeem555 View Post
    this is true time tell us about order but it comes when we have good time of wait, when we wait here our market tell us here to enter and here to exit, but this is also not easy its possible when we have some enough knowledge and experience, if we do not have enough knowledge and experience we can not survive, so do trade and do properly, if you do not have experience you can lose, so do trade on base of management and your learned way
    You are right we should wait till we get the right view, till we find good set ups and these will tell us when to enter and exit the market. Setting the stop loss and take profits and leaving the trades is always a better approach to me but we need to learn to set them at an appropriate positions. With experience we know the market more deeply and closely but for best results we need to have passion to learn and improve.

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  8. #1777
    Rookie Lyon's Avatar
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    There are right timing for every thing in the market, but then in this aspect, your trading strategy will have to be what you consult actually because for me, I have been able to have learned that the best way to trade is to expect 1:1 alone, so when the profit is equal to my risk, then I am out of the market. Trading that way has always kept me on the right path.

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  9. #1778
    Rookie Toyen's Avatar
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    Quote Originally Posted by Abhishekwala View Post
    You are right we should wait till we get the right view, till we find good set ups and these will tell us when to enter and exit the market. Setting the stop loss and take profits and leaving the trades is always a better approach to me but we need to learn to set them at an appropriate positions. With experience we know the market more deeply and closely but for best results we need to have passion to learn and improve.
    What you have explained is what i considers as what the traders of the market have to be doing. We can trade the market by knowing its direction and use the stop loss and take profit. That is what i know that a complete traders have to do, it is the take profit and the stop loss that is considered to be the most appropriate methods to exit our trades correctly when we place them at the most accurate points.

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  10. #1779
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    Quote Originally Posted by Toyen View Post
    What you have explained is what i considers as what the traders of the market have to be doing. We can trade the market by knowing its direction and use the stop loss and take profit. That is what i know that a complete traders have to do, it is the take profit and the stop loss that is considered to be the most appropriate methods to exit our trades correctly when we place them at the most accurate points.
    To get good profits we should increase our experience so that we manage things logically from opening of trades to their closing. What traders can do is think carefully and put the take profit and stop loss and then relax and this will provide for the exit in a better way. Sor levels are very useful for opening and closing of trades and of course we should have a strategy to confirm the market suitability first.

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  11. #1780
    Rookie ola4real's Avatar
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    Quote Originally Posted by Toyen View Post
    What you have explained is what i considers as what the traders of the market have to be doing. We can trade the market by knowing its direction and use the stop loss and take profit. That is what i know that a complete traders have to do, it is the take profit and the stop loss that is considered to be the most appropriate methods to exit our trades correctly when we place them at the most accurate points.
    What i know is that forex traders should be fit for the task ahead of them in terms of the forex trading and all that. The forex traders who are doing well would have leraned and the forex traders would have built their forex system who will be the style in whom the forex trader will be depending on. That forex system must have the direction getting skills and the use of stop loss and take profits must be included too.

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