http://www.premiertraderuniversity.com/system -- Trend Jumper Free Download
In a recent trading article, I wrote about trading exits and how many people can easily enter a trade but have no idea when to exit their trade. There is so many things wrong with entering a trade without a plan one of which is you will have little to no plan for money management. Without managing risk and your trading account, your presence in the market will be short lived.You have two exits when you are in a trade: Profit exit. Protective stop exit. With a protective stop, you are able to say "I will only risk 2 points" on the trade" and barring slippage, that will be your maximum loss on this trade. While you can aim for 2 points or any other target for a profit exit, the market is what will dictate your profit.
The best you can do with exits for trading profits is trail to take advantage of extended moves, profit targets to assist you with a favorable risk/reward scenario, scale out partial, and/or monitor when the move is losing steam. The question is what is right for you?
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