فوركس ساتو

COMPOUND GAINS EXIT STRATEGIES
The best way to exit your position is to consult a psychic to find out
what the peak price will be, and then exit there so that all your
trades are profitable. If you don’t know of any such psychics then
you might want to consider one of the following exit approaches.
EXIT 1 – Manual Exit
This is the exit strategy that I personally most often employ after a
successful trading session. During a trading session you could
possibly get stopped out, but if you plan to exit your trade manually
then this is usually the best way to do it.
First of all, remember that there are two main trading sessions per
day. By trading sessions I mean the overlap times as discussed
earlier in this eBook of the Asian/European and
European/N.American times. Most often you’ll find that you’ll
primarily trade one of those two sessions. Europeans are lucky in
that both sessions are convenient for them.
What you want to do is to get out towards the end of a trading
session. The one exception is that you might want to relax your
stops a bit if you are trading the first session to hopefully continue
your trades through the second trading session.
Towards the end of each trading session, ESPECIALLY the
European/N.American session, you’ll often find that prices will
FOREX Surfing Draft.forex sato
begin to level off typically in the last hour. Simply tighten up your
stops to possibly get stopped out, or if it keeps going then manually
exit your trade near the end of the session. Tightening your stops to
get stopped out is usually the preferred method as it could leave you
in the trade if prices continue the trend longer.
The end of each of the two sessions has a personality. The end of
the first session sometimes appears to take a breather before the
open of the second session. Sometimes during a strong trend prices
will continue to move through the between time as though there
were no break between sessions. Sometime the market could turn
around complete, hence why it’s good to have stops in place.
Since I live in North America (Canada to be more specific), I am
personally much more familiar with the end of session 2, since that
is the one I have watched countless times, far more often than
session 1. Let me tell you about my observations of the end of this
trading session, as I consider it interesting, and important to know.
I pay most of my attention to the second session, which is from 8am
to 12noon EST (New York time). Often I find a suitable trade to
jump in on between 8:30 to 10am. Often I’ll let it ride to the end of
the trading session (if I don’t get stopped out).forex sato
My personal observation (witnessed many, many times) is that
somewhere between 11:30 and 1pm (usually earlier, but sometime
later when there has been a strong trending day) the market will turn
around a little bit and then go into a consolidation pattern. Usually
for the rest of the day (before the Asians start it up again) you’ll see
a consolidation pattern (often fairly tight within 30 pips or so). This
basically happens because the European bankers start packing up for
the day, and who knows maybe American bankers go golfing in the
afternoon (just kidding, well… maybe). Bottom line is that typically
there isn’t much trading pressure happening after noon EST.
So what does this mean for an exit strategy? Well, basically after
11:15am EST I keep a good eye on the markets, and start bringing in
my stops as close as reasonable, trailed along each bounce. Most
often I’d be out between 11:30 and 12:30 from a stop. Sometimes
around noon I just manually exit if it appears to be retesting a
previous high (on an up trend), and most often I would have ended
up exiting close to the max. Sometimes the markets will continue
FOREX Surfing Draft .forex sato
longer than usual if there was a particularly strong trending day, and
it may go through this pattern after 1pm.
If I have to leave my computer (I often make plans in the early
afternoon – rarely in the morning during trading times) I’ll simply
set a tight or reasonable stop and a limit. It’s usually better to get
stopped or limited out than to do a manual exit. But hey, there have
been many times that I exited manually because I was happy with
my profits (at current spot price) and I was getting fed up watching
5 pip oscillations (sideways), or simply had to leave.
Bottom line is follow good trading practices in your exits and to
allow yourself to get stopped/limited out most of the time, but if
from time to time you feel to exit manually then feel free to do so.
After some time watching the markets you’ll get a feel for how the
end of session will end and you may manually exit for better profits
than a stop.forex sato