Forex Traders talk a lot about the perfect entry point, combining different indicators and basic conditions for finding the best opportunities. Much less attention is paid to choosing a good exit point, although this is no less important. The best ways to exit the transaction in our article. The correct choice of the exit point from the transaction in the forex market read on.
criteria system One of 's most logical ways out of a Forex deal refers to the strategy on which you entered trading. You probably already planned an exit beforehand. For example, if you entered a position at the intersection of moving averages, it is usually better to go out on the opposite cross. In addition, if you bought on the breakthrough, you should sell when the price breaks the bottom mark. To exit the transaction you must have some pre-set criteria.
Trailing Stop
It can be used to protect against loss and fix profit. It is used alone or in combination with another method. One of the difficulties of using the trailing stop is to determine the distance from the price action. Setting an order too close leads to too early a profit. A too distant installation can help you to not get any profit at all. Testing trailing stop using past data is a good way to find the right distance.
The question is, can I use these methods for binary options and PAMM trading? !
Target price for
It is a good way to exit the deal on Forex, provided you select a realistic level. If the target price is too far, it will not be achieved, and in the end you will most likely lose money when the market turns around. Similarly, if your goal is set too close, then you do not earn enough to justify the current risks.
Technical levels, such as anchor points, are an excellent price benchmark. They use the latest data to adjust to market volatility. Key turning levels of are realistic price targets for profit. In addition, the reference points are under the supervision of thousands of professional traders, and therefore better predict the reversal points.
Technical indicators
Fibonacci, Elliot waves and other technical indicators are also good ways to exit the deal on Forex , and the best indicators of 2015 are most effective in day trading. The mathematical Fibonacci sequence predicts turning points with extraordinary accuracy, and the ATR indicator is a good tool for measuring price movements. Instead of choosing an arbitrary number of points as a profit level, halve ATR in the last 14 days, this will provide you with more realistic data.
