Just wondering how many people use indicators to exit a trade rather than stop losses or take profit levels. It has always seemed rather paradoxical to have a finely tuned set of indicators to enter a trade, only to have the trade stopped out by noise or random spikes from spot prices. Do you use stop losses as pure safety measures or as an essential part of your exit system?
Personally I use stop losses on exiting my final 3rd of my position. I am all about keeping the losses short adn letting the winners run. The obvious problem is many times being greedy on a winner causes a breakeven trade b/c follow through is much less than it used to be, IMO. I like to pay myself by scaling out and letting the final 3rd ride. Sometimes these portions although small, make huge runs that you thought wouldnt happen. I will even ignore the stock so I dont over analyaze it, and exit the final 3rd...