Here is the link.
As such this video is about exit strategy ideas. The good ideas for getting out of your trades or investments. Generally, you will exit losing trades once it hits your stop loss so that's taken care of but what about the trades that are profitable - how do we set targets and how do we decide where to exit winning trades?
Broadly speaking: Ways to Exit a Profitable Trade: - Exit on weakness - if you are long, you would wait until the price retraces from highs and exit. So you would be setting a key level or pullback zone of say X pips... - Exit on strength - you are chugging along and then you get a strong move higher; you can exit in that without waiting for the retracement. - Orders near to support/resistance - this is probably the most common strategy that people use. - Moving average based trailing stop. You're in a market and your trade is chugging along and you use a moving average (say 20 period) which trails with the price as the market moves higher. This allows space for some noise. - Volatility based strategy - this uses ATR (Average True Range) - Time based exit - one common particularly with day traders.
My learning notes:
- Exit on weakness
- Exit on strength
- Orders near to support/resistance
- Moving average based trailing stop
- Volatility based on strategy
- Time based exit
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