Which strategy is best to close the position? - page 3
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Which strategy is best to close profitable positions ?
You can made an exit strategy totally different (indipendent) from the entry strategy/signal, or can just use the inverted condition of the entry signal as an exit strategy.
Others are SL/TP and/or Trailing Stop, used with coerency still within a pre-prepared strategy of exit.
You can also mix all of this, and use the Tester to see what's happen :)
IF YOU TRADE SCALPING; which you prefer ( stop loss )?
Take Profit and Stop Loss ratio should be 1:4 ... means if You have 5 pips take profit then your stop loss should be 20 pips.
With limit orders if the market hit your order then it will go to its original position for sure with 80% probability. The important thing is if your limit order distance is 10 pips then your take profit should be the same. and stop loss? offcourse 10x4 then. On a single day if the market hit your SL then it is not your day, hence stop trading that day.
I personally like hidden Stop Loss and Take Profit levels from the broker as in scalping the broker simply love your stop loss line and try their best to turn the market towards it :D
I don't know in which scenario you will place 2*L trade. But with this I got the following scenario " if my position is 0.1 lot and my profit is X then using a position size of 0.2 lots will give me a profit of 2 * X "
It was in response to this . . .
noorad2000:
Thanks For Replay
Strategies for getting more profit from each trade .
Instead of using a X lots trade use a 2 * X Lots trade, then the "profit from each trade" would be twice as much as it would have been otherwise . . .
take profit value :)
Hi PCWalker,
Topic starter asked the question about "Which strategy is best to close the position?". As there are billion strategies in the world, and because it is impossible to tell to the topic starter about which one is best for him/her so the best reply will be 'take profit value' :) To make it shorter: i was joking.Take Profit! :)
Never use Stop Loss. ;)
I never used SL and its worked out pretty well so far! Stop Loss is not the only way to protect the capital, indeed, in my opinion stop loss protects nothing but it only gives pips to the broker! :)Take Profit! :)
Never use Stop Loss. ;)
I never used SL and its worked out pretty well so far! Stop Loss is not the only way to protect the capital, indeed, in my opinion stop loss protects nothing but it only gives pips to the broker! :)