I appreciate you sharing your methods. I wouldn't confuse the bull market with my trading skills. That is why I am here, trying to learn something so when another 2008 comes in the not too distant future, I am prepared. Thank you for posting.
In that case no need to get upset. I posted a lot of stupid questions but in my case, I was looking for answers. Your post helped me. Best to you.
Im 50 too and retired. I did my first stock trades in '88 and started to trade fulltime around 2010. Today I do intraday only by stock index futures. Dax is my favourite. I am profitable. From this point of view I see this is an excellent question and topic. Thank you. You also are right here and overall anywhere in the internet there is not much quality articles about how to plan your exists. Neither this one But IMO the exits are not a trivial thing to do at all. To find the correct methods and parameters it requires a lot of work. Here is my quick points for this: Every trading system is different so nobody can tell it to you exactly. Princibles can be introduced of course You will need a lot of live samples from your trading system until you can start to analyze which methods is the best in your case. For the first time choose something obvious. You have to go through your trading manually trade by trade and analyze and calculate results from different methods you have. Learn to know the formula of expectancy. For example if you want to get better reward/risk (ie. let the winners run or cut losses quick or both) ratio it allmost allways means your win % will get hit so you have to analyze the best balance for the best outcome (expectancy) IN YOUR CASE. You propably will need more than 1 method and then also you have to find the methods how to decide in what market conditions you switch and what. Edit: Haha I forgot to anwer the question I do my exits by short fixed targets (scalps) and when I give it to run by the price action. How exactly it is a several page rule book which I am not willing to do public domain. Peace !