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How to exit market well

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Rony Sentiko
120
Rony Sentiko  
I am confusing with this one. Better use take profit stop to exit market or just trailing stop or manual trailing stop?

Manu trailing stop is refer to when I move my stoploss when my position get profit but I move it based on market not just make it auto-trail.

Your experience will be nice lesson to all trader.
Witold Zakrzewski
42
Witold Zakrzewski  

It all depends on your trading strategy. 

For example if you trade small price retracements and you think that price will move to some predefined resistance level take profit will be probably the best option. On the other hand if you try to catch some bigger move on higher timeframe manual trailing stop will be better.  

Henry Silva
1081
Henry Silva  
If you operate fundamental news, we recommend a TrailingStop.
Widy Prasetyo
473
Widy Prasetyo  

I prefer always use TP-SL

but if I feel something wrong or market turning direction, so I cut profit/loss manually before it hit SL.

JD4
1100
JD4  
I agree with Witold on this one.  It depends more on your trading strategy.  To me, a good system would have a few things (novice trader wanna-be here, so take that into account as well).  It should have a clear entry and clear exit, a money management system within it (so you don't lose your shirt), and as far as the S/L, it should also help limit your losses, but you don't want it so tight you lose more profits from it as well.  As far as the other end, if you have a specific T/P mark you are shooting for, like if the market gets to 200 pips above your entry then you exit the position, or you use a trailing stop to just let it go as high as it can, and that can work too, but you will be hitting it every time.  All depends on your personal feelings on what works for you. 
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