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Strategies & Market Trends : Trading From Main Street.
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To: Brandon who started this subject6/21/2001 1:55:12 PM
From: Brandon  Read Replies (1) of 226
 
All of us who trade know that entries are the easy part. Its the "where do I get out" part that gives us all fits. I have a fairly simple exit plan that works well for me, here it is. First you must know that you will get the best return and risk/reward ratio out of a swingtrade if you hold it 3 to 5 days because of the way trend dynamics work, so the idea is to hold it that long with in reason. After I enter a trade my first exit is after my stop is covered, at this point I will exit 1/3 to 1/2 of the position. This insures a break-even, or near break even trade and removes some psychological issues. Now with the stop in place I will hold for at least 3 days unless my original stop is hit. After day three my stop becomes the 30 minute low of each day, or the low of the prior day if that is broken before the 30 minute mark. Pretty simple, but it really will allow you to stay in the trade and exploit the larger moves.

Brandon
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