Determine When and Where to Exit

forex-exit-sign.jpgThere is one most important thing that traders always forget, the EXIT channel! It is not important how you enter the trader but it will be an important thing to determine how to exit the trade.

If a trade moves in favor on established position then you must evaluate the move. In response to such a move, never change your already planned stop-loss or take profit level!

If the trade continues to move in your favor you should not continue to raise the stop-loss and take-profit level. You should not exit the trade until the market reverses to trigger your stop-loss order, this called discipline.

A take-profit level should be used to signal an exit from the trade. If a trade moves against your established position, you have two options. You should stay in the trade until either the stop-loss or take profit limit triggers an end to the trade.

 

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