Which strategy is best to close the position? - page 2

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Mehrdad Shiri
4580
Mehrdad Shiri  
RaptorUK:

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.

Ahmed Soliman
19852
Ahmed Soliman  

Exit signal is not a max profit gain method.

Breakeven is saving profit method.

So, Trailing stop is the best max profit gain method.

luckybaby123
8
luckybaby123  

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. 

Bacha Rehman
4904
Bacha Rehman  
RaptorUK:

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?

Bacha Rehman
4904
Bacha Rehman  

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.

Mehrdad Shiri
4580
Mehrdad Shiri  
bachapk:.

In scalping the strategy with limit orders with TP:SL ratio of 5:20 is the best to achieve profit.

IF YOU TRADE SCALPING; which you prefer ( stop loss )?
Simon Gniadkowski
17608
Simon Gniadkowski  
bachapk:

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 ?
Bacha Rehman
4904
Bacha Rehman  
RaptorUK:
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 :)

Documentation on MQL5: Standard Constants, Enumerations and Structures / Trade Constants / Trade Orders in DOM
Documentation on MQL5: Standard Constants, Enumerations and Structures / Trade Constants / Trade Orders in DOM
  • www.mql5.com
Standard Constants, Enumerations and Structures / Trade Constants / Trade Orders in DOM - Documentation on MQL5
Basi
222
Basi  

Targets on higher timeframes (Daily Chart for example)

Fibo Ext.

Harvester Trading
345
Harvester Trading  
newdigital:

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?

  • Parabolic
  • overbough/oversold levels (stochastic, demark and so on)
  • support/resistance level (povit, fibo and so on)
  • opposite signal to enter
  • openning the other trade on same direction with increased lot size (martingale)
  • openning the other trade on same direction with decreased lot size but with increased take provit value (anti-martingale)


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"

Best answer
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