6)- Live Life As discussed earlier, there is more to life than just making buckets of pips. There are times when for one reason or another we can't devote adequate attention to our trading. Exiting our trades and taking care of the other issues ...

Multi-Lot Multi-Timeframe Position trading

5)- Increase margin to allow for better trades This is self explanatory. We are up against our money management margin limits and see a trade much better than one we already have. A trade is exited to allow us to take a better one and stay within ...

Multi-Lot Multi-Timeframe Position trading

4)- Reduce Risk Another reason to exit a trade is to reduce the exposure to risk. The market is a risky place and there really is no way to control the risk of the market. Risk ebbs and flows and increases and decreases with political and economic ...

Multi-Lot Multi-Timeframe Position trading

That's great AG. Steady as she goes. Moving on with reasons to exit: 3) It's doing nothing Trades can stall right after entry, after losing or after winning. I've had a trade stall almost to the pip right after entry and do nothing for three days, ...

Multi-Lot Multi-Timeframe Position trading

We are still going through every possible reason to exit a trade. Next will be 3 of 6, It's doing nothing. Any questions, comments, complaints?

Multi-Lot Multi-Timeframe Position trading

Take part of the profit- We've discussed this at length here. This is my preferred method of taking profit. I scale in with 3 to 5 steps, then take profit off the oldest and largest position as near the peak profit as I can and then add another ...

Multi-Lot Multi-Timeframe Position trading

Expert Exits- 2) The trade is winning So, lets say we have been trading well and cutting our losers short and adding to our winners and now we find ourselves carrying a very large unrealized profit. We have three choices, take all the profit, take ...

Multi-Lot Multi-Timeframe Position trading

Thanks to Jon for the good question. After a bit of a side discussion on controlling risks, that returns us to the main topic of current discussion , Expert Exits. Earlier we listed 6 possible reasons to exit a trade, and we had just begun to look ...

Multi-Lot Multi-Timeframe Position trading

I'll continue on and try my best to answer your question now. These early exits will almost always be taken shortly after entry when a trade is losing. One reason to exit early is the original basis of the trade has been invalidated by the market. ...

Multi-Lot Multi-Timeframe Position trading

Good question Jon. I'm just too tired to answer it at the moment. Lots of things happening here at command central. Trading is very simple at the moment. Just trading UCad long and AU short and throwing another lot on every time it moves 100 pips or ...

Multi-Lot Multi-Timeframe Position trading

Good question Tinypip. Of course we need to give the trade a little room to work out, but we are sworn to never take a large loss. There are lots of ways to look at it. I do like to set stops on the other side of s/r's from entry. I usually drop ...

Multi-Lot Multi-Timeframe Position trading

AU, ACad, Gu trending down. UChf trending up. Looking for good entries.

Multi-Lot Multi-Timeframe Position trading

I have a few more items, but most have been discussed in this thread before. I'll just tack them onto the bottom of the main list of tips, tricks, techniques and methods to manage risk below and if anyone want's to discuss any of these any more we ...

Multi-Lot Multi-Timeframe Position trading

Yep, just right. G

Multi-Lot Multi-Timeframe Position trading

Good point to discuss Roughtrader. Yes, it's true that price is only one thing and if it's moving up it must be moving up at any sampling time, be that 1 minute, 1 hour or 1 month. The sampling time is what is different and that is what gives the ...

Multi-Lot Multi-Timeframe Position trading

Early exits via invalidation of trade basis One way to reduce risk is to exit when the market invalidates the basis of the trade. So if the indicator or candle formation or whatever says go long, and it switches to short soon after we enter, we have ...

Multi-Lot Multi-Timeframe Position trading

Thanks for the feedback Sonata. There is an important point in your reply. Part of the measure of risk in trading is how much you are risking relative to your net worth. So if you are worth millions, opening an account for $15,000 to trade mini's ...

Multi-Lot Multi-Timeframe Position trading

Thanks Tinypip. I'm glad to hear you are finding something worthwhile here. G

Multi-Lot Multi-Timeframe Position trading

Excellent response Renegade. We want to stick to our plan here of adding to winners and exiting losers quickly. Cutting winners short and letting losers grow would be just the opposite of what we want to do here. I'll add a few observations. The ...

Multi-Lot Multi-Timeframe Position trading

Sure AG, I'll give that a shot. Here is a rather long story about an automated trading system implemented at Long Term Capital by a Nobel Prize winner and some of the best financial math and programming minds on earth: url To sum it up, they went ...

Multi-Lot Multi-Timeframe Position trading