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Re: {REQ} help with an exit strategy
I am not a fan of scaling out but this is what I've been using.
Lets assume you have a 1:1 risk ratio
I set a trail stop at the same distance of my profit target.
Example
2 ES points profit target/ 2 es points stop loss
Then I trail my stop-loss at 2 point (8 ticks ) better than entry price.
so everytime the market moves in my favor, the trails stop will reduce my exposure 1 tick less
That way, I am not too close to the market yet I give the trade time and space to develop.
It will make sense when you try on the market. Just that if you try this on demo remember that fills are not the same as real time.
You can also try ATR X 3 and keep your stop-loss on that disctance but personally sometimes stop-loss are way too wide. I don't like ATR that much.
Hope it helps
God Bless You
Last edited by feb2865; 09-22-2007 at 11:33 AM.
Reason: Typo
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