Forex: Exit points at the right time
The most important in the submission article (author’s opinion) usually includes one of the trading and exclusively forex trading premises – ordering orders and positions. It includes choosing entry points, decision-making points, stop loss and trader profits.
I hope this article will help new traders, who start working with only Forex and also sell experienced traders regularly and regularly, who earn their money in the market.
When I started trading the Forex and made my first major losses and profits, I felt very important about the entire business process.
While the right time to enter the position was at least a problem (about 80% of my open spaces “Green” went into the profit zone), the problem was hidden in the point of view out of that position. .
Potential orders were not only important to reduce their risk on potential damages, but when I can take it, I must limit my greed and take advantage of it. There are many well-known instructions and methods for entering the right position at the right time – such as major economic news releases, global events of the world, technical indicators etc. etc. But when admission to a position is optional and trade can decide very much good / bad entry point points as they want, it is incredible if we get out of a position. Marjan Trading makes it impossible to wait very moment with open position. More than that, every open position restricts the trade potential of a particular way.
Choosing good exit points for positions can be an easy task if only the Forex market was not so unusual and stable. In my opinion (according to my business experience), exit orders will be tugged continuously over time and new market statistics (technical and basic) appear.
Come, you get short positions at 1.2563 EUR / USD, when you’re on this position, support / resistance levels are 1.2500 / 1.2620. You set your stop-loss order up to 1.2625 and give you a good order for 1.2505. So now, this position can be considered as an entry or status of 2-3 days.
This means that you must close it before “term” ends, or it will become a very unexpected position (because the market is present when you are very different from entering this position. shall be). After taking the position and the order of the initial route is set, you need to follow the market events and technical indicators to adjust your exit order. The time goes as the most important ruler is to strengthen the loss and profit limit. Usually, if I have a middle term (2-4 days), I try to prevent 10-25 pounds prevention and reduce every day.
I oversee the global event, I will try to harm myself when the very important news can hurt my position. If the profit is already higher, I will make sure to move the point of entry to my prevention, I will make sure.
The main idea here is to find a competitive point between greed and caution. But as your position grows, its profits should be more restricted and reduce losses.
Apart from this, the trader should always remember that if the market begins to work unexpectedly, they must be more cautious than the order of exit, even if the position is still showing profits.
Every trader has his own trading strategies and habits. I hope this article thinks about this aspect of trading as its trading route, and it will only improve their commercial outcomes.