Forex Expert Review

When it comes to trading, knowing when to enter a trade can be very important but in order to be profitable, you definitely need to know when to exit your trade as well. The exiting of your trade is when you really take the profit into your pocket.

In most trading course, they only teach you how to enter a trade and what setup you need to have an entry but no one really talks about their exit strategies. Therefore in this article, I will be sharing with you how I usually exit my trade.

1) Using Pivot Points: These are levels of support and resistance that is usually used by those big dogs and therefore there are pretty strong. For my exit strategy, I always exit my trade when it reaches the next pivot level as this is where you will see your position being pushed back.

2) Using MACD Indicator: Sometime I will also make use of MACD indicator to help me exit my trade. If I am in a long position, I will usually exit my trade when I see a bearish MACD crossover and if I am in a short position, I will usually exit my trade when I see a bullish MACD crossover.

3) Using Bollinger Bands: If you have been using Bollinger bands, you will see that there is an upper and a lower band. If you are in a long position, you can consider to exit your position when the price hits the upper band and if you are in a short position, you can consider to exit your position when the price hits the lower band.

4) Parabolic SAR: This is an indicator that gives you a visual entry and exit alert. It will produce a dot below your candle to signal you to go long and when the dot shift to above the candle; it is time for you to exit your position.

The above are some exit strategies that you can employed in your trading as well. However, you should always spend some time to better understand them before putting them to use in your trading.

Learn more about how you can trade effectively with forex macd indicator as well as parabolic sar indicator.

Kelvin is a forex enthusiast and a full time trader. He has setup a blog that shares his knowledge in technical analysis with fellow traders out there.

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