Are Exits more important than Entries?

ITtrader · Newbie Joined: May 12, 2011 Posts: 11

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.

http://www.intellitraders.com/content/learn-trade

pipsurfer56 · Newbie Joined: Jun 30, 2011 Posts: 5

This is an interesting post and I am surprised there are not more comments on it. I would have to say that exits are more important. In the end your exits are controlling your profit. What I mean by that is that if you are having 4 great trades but 1 bad trade with a poor exit you are not able to keep your profit. I know from experience! Additionally you just need to know when to get out, this can be predetermined but as the market moves over time this changes. Also, lots of new traders tend to stay in longer than they should. So in short exits are more important.

JacqStone · Newbie Joined: Jul 27, 2011 Posts: 134

It is important for every trader the need to know the exit strategy because exiting the market at the right time is very important to be in safe zone and to be out of huge losses...

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