What sort of TA features are traders’ favourite signals to exit a winning position? (especially a trend-following trade with no obvious rational target price)
I go along with this largely - I don't use any off-chart indicators. But how do you yourself use PA to exit at the best price?
If really depends on the PA distinctions you've built in your mind. Folks looking at the same thing will have many different interpretations. Generally ends of trends occur with loss of dominant momentum. That can express itself with the Drying up of dominant volume or unusual volume entering the market with the opposing sentiment. That said, tops/bottoms can be 'spikey' or 'rounded'. I focus on doji's as a bar is being built and squish LTF bars into it's HTF doji.
Care to post a 10 minute chart image of your trade that includes at least a couple hundred bars? ... Or should it be a 30 minute chart? What timeframe chart are you trading here? What's your hold time in general?
Nice 'problem' to have, congrats! Maybe something here you can use... "Ways Traders Take Profits" https://www.elitetrader.com/et/thre...t-right-here-baby.335635/page-20#post-5358043
You've pointed me towards some really methodical analysis. thank you so much. Plenty here to mull over which I have never seen laid out so thoroughly in any trading text.
Use a profit target based upon key variables from your entry signal so that you're able to execute (follow the plan) much easier (more efficiently) because you already know it works. For example, if you're using s/r levels as part of your trade entry signal...use s/r levels as profit targets. If you're using Japanese Candlestick patterns as part of your trade entry signal...use Japanese Candlestick patterns as profit targets when they appear. If you're using market depth info as part of your trade entry signal...use market depth info as profit targets... As traders, we tend to use too many things in our entry signal that are different than our exit strategy (profit targets, stop management). That creates too much stress during the trading session and increases trade execution errors. wrbtrader
You're in a great spot. You have a positive position. You have a question. You have some skin in the game. You will probably pay good attention to what you look into. What if you use one of the 10 exit techniques that resonate with the way you like to trade and prepare to exit that way. Then call these guys up and ask them for some advice on your trade. They'll be able to offer up what They would do. You just might find that your way works every bit as well as the way they or anyone else would try. These guys take calls each and every day on their programs at TFNN. Pesavento and Rhodes trade currency futures and lots of other stuff. Go for it. What you got to lose by getting some perspective on what They would do in your situation. https://tfnn.com/pages/tiger-tv TFNN Call-In 1-877-927-6648 Call-In International 1-727-873-7618 TFNN Live Programming Monday - Friday 11:00 - Noon EST - Trade What You See with Larry Pesavento 1:00 - 2:00 PM EST - The Trader's Edge with Steve Rhodes