One of the biggest questions that I keep asking myself is, are exits more important than my entries? I feel the answer to this question is yes they are. Overall does not do you any good if you are constantly breaking even on all of your profits and losses.
If you are unable to get out of a trade at a reasonable price your losses will always be too high cutting into your profits. This is what sets the professionals off from the rest, their exit strategies. This is more than just a money management plan. Exits are just as strategic as your entries. Exiting a trade can be determined on so many factors, S/R, BB, News, Trends, and so much more.
It not so much about winning on huge trades it is about losing a little on the trades you lose. Like golf, the one who wins is who misses it the closest.
If you are unable to get out of a trade at a reasonable price your losses will always be too high cutting into your profits. This is what sets the professionals off from the rest, their exit strategies. This is more than just a money management plan. Exits are just as strategic as your entries. Exiting a trade can be determined on so many factors, S/R, BB, News, Trends, and so much more.
It not so much about winning on huge trades it is about losing a little on the trades you lose. Like golf, the one who wins is who misses it the closest.