Are Exits more important than Entries?

ChrisJMan

Recruit
Messages
6
Pharaoh,
That sounds like a really good idea. I will have to try that out and see if it helps me stay unemotional with my trades.

Thanks!!
 

dkami

Sergeant
Messages
753
I have to agree with Prophet on this in part as you should know your exit before you even put the trade on or at least where you will take half off the table weather its a MA,support and resistance or a fib ect,ect

So there should not be any emotion involved at all in exiting a trade as its all been set up before you have taken the trade

So having said this one is no more important than the other in my view as its all part of an overall system if anything your entry is the key to a successful trade as if you have a good entry you will always take a little profit no matter how bad a trader you are and any profit is good profit

I posted a trade here on FPA last sunday before market had even opened for me to get in on the GBPCAD on monday morning You will see that I already said where my SL is and my TP is before i even took the trade this is not a scalp but a trade I have taken half off the table with 270pips of profit

You can take a look here if you like
http://www.forexpeacearmy.com/forex...-tradertech-com-vantage-point-software-2.html
 
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exbryan

Recruit
Messages
11
I probably execute about 20x more practice trades than real ones just versing myself in the movements of the market and figuring out what works.
 

itkraze

Private, 1st Class
Messages
200
Both entry and exits are very important in forex. If you can enter but can't exit at proper levels then you cannot sustain to maintain your profits that you gain from your trades.
 

Pharaoh

Colonel
Messages
19,924
Both are critical. A bad entry dooms the trade from the beginning. A bad exit reduces or even eliminates potential profits from a trade.
 

navyseal

Private
Messages
291
Both are critical. A bad entry dooms the trade from the beginning. A bad exit reduces or even eliminates potential profits from a trade.

I totally agree with your point. Both are important, but I do most pay attention to the exists. Since a good exist could save a bad entry.
 

FringFX

Sergeant
Messages
391
I totally agree with your point. Both are important, but I do most pay attention to the exists. Since a good exist could save a bad entry.
pretty much the same for a different scenario.
a good entry can make the exit easier to execute.
 

Whitesnake

Corporal
Messages
428
Both entry and exit is very much important and constitutes the main part of the trading plan. We should enter at the best possible level to avoid floating loss and exit the trade at our determined target.
 

Red Herring

Corporal
Messages
388
This thread was dead just before 7 responses! I mean after 2011 we are now at 2013 in this discussion! Ist it strange?
looks an interesting topic but as replied by dkami in 2011, I agree and nothing can be said after that.
 
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