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Learn How To Take Your Trading Profits…

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Taking trading profits when they’re available is perhaps the biggest dilemma that a trader faces.

Take your profits too soon and you could leave too much money on the table.

But if you miss the boat, you run the risk of your paper profits evaporating or even turning into a loss.

There is no perfect time to bank your profits but how you will eventually exit must be part of the overall trading plan.

Exits are usually an ignored topic

Many people simply focus on the trading setup and how to enter the trade thinking that is the most important piece of the equation.

It’s not.

If you have ever taken time to read about the trading legends or any reputable trading book, the entries are the least important aspect of the trading plan.

Thinking of trading as being an exceptional risk manager first, we can’t help but plan where to exit our trade.

Without knowing, we can’t even calculate a simple reward to risk scenario for the trade.

Are entries important?

Of course they are but they are usually less important than you think.

There are many scenarios where you will want to just get the trade on and mitigate the risk through proper position sizing and of course your trading exit.

Looking to take a continuation move in a trend is a great example of just “getting the trade on”.

- See more at: http://www.netpicks.com/take-trading-profits/

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