Exit Strategy ?

Hello All,

I have been trading FX now for 2 years and am still looking for a suitable exit strategy. I have used numerous variations of indicators combined with price action and still no luck there.

Has anyone found any suitable exiting strategy regarding Trading on FX.


I appreciate your assistance.


Regards

 

Yeah.

Blood.

 

what a stupid reply Skalpz.

Try using Parabolic SAR as a trailing stop.

 

What numbers do you use for the SAR method ? 0.2 and 2 ?

 

Personally I use a rather unique method I wont write out as it requires monitoring of several different things, though I have found the standard parabolic parameters work quite well (better than my system some of the time).

 

Can't say for somebody else really.
A good system has several exit triggers. Mine has 4 and they work fine for all major currency pairs on 15 min charts.

 

most people probably exit upon losing all their cash

 

there's many different exit strategies that work, but I recommend using something that compliments your trading strategy and personality.

I've used parabolic for exit strategy. Finding that perfect setting is irrelevant. I just used something that was good enough.

http://www.elitetrader.com/vb/showthread.php?s=&threadid=47358&highlight=exit+strategy

you can check out this thread...

As far as either using profit targets or trailing stops... I really don't know which one is best. I personally think that they have simlar results anyways.

Using multiple exit strategies seems to be the most logical. More conservative strategy for certain market conditions, and to let prices run for certain market conditions. That I don't know how to do.

 

It really takes some pressure off if you can cash out part of your position with a conservative profit target and use some kind of trail or bigger profit target for the rest.

Set up a CCI 20 period and watch oscillator when it clears the 100 line on a move. A cross of that line with volume may be good place to get out.