Which strategy is best to close the position? - page 2
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thank you;
& i was think;
her question is : when must exit ( general case ) from a position if we are in profit ?
thank you for your reply.
Exit signal is not a max profit gain method.
Breakeven is saving profit method.
So, Trailing stop is the best max profit gain method.
Useful thread. The profit become ture only when you exit the position, otherwise it's just nothing.
Every method posted by newdigital is ok. I think trailing stop is just simple and efficient one and am glad to know other opinions.
Ignoring the effect of spread . . . 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
2 * X is more than X so this achieves the objective of "getting more profit from each trade ." no ?
No!
What if the you placed 2*X Lots and the market reverse?
In my view setting SL,TP and trailing by higher time frame ATR is the best in trending strategies.
In scalping the strategy with limit orders with TP:SL ratio of 5:20 is the best to achieve profit.
In scalping the strategy with limit orders with TP:SL ratio of 5:20 is the best to achieve profit.
No!
What if the you placed 2*X Lots and the market reverse?
No what ? if I placed a trade of 2 * X and the trade reversed and I made a loss my profit would still be twice what it would have been if I had used a trade size of X, or do you disagree ?
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 "
AS
Let say you placed a BUY order with 0.1 LOT ... you reached a 20 pips profit. There you placed another BUY order with 0.2 lot.
So with the above situation if the market is going in your way then Yes you are right "then using a position size of 0.2 lots will give me a profit of 2 * X "
BUT
If the market reversed then it can give you huge loss as well.
I simply explained what I got impression from your comment. If I didn't got what you meant by your comment then please explain so that everyone know exactly what you meant :)
Targets on higher timeframes (Daily Chart for example)
Fibo Ext.
If you have a strategy so exit should be part of it. Strategy without exit is not a strategy.
What the people are using for exit?
I think - closing on overbough/oversold (stochastic etc), support/resistance (povit/fibo) and simple trailing stop are most popular for the people who consider about "let the profit run"