💭 How to protect your profits and exit the trade professionally?
📌 Reaching profit in a trade is half the battle; maintaining it and exiting correctly is what makes the difference between an ordinary trader and a professional.
1. Set your goal before entering:
Establish a clear profit-taking level based on technical analysis, not on greed or emotions.
2. Use a trailing stop loss:
When the price moves in your favor, gradually move the stop loss to secure part of the profits without exiting too early.
3. Don't be greedy:
When the price achieves your targets or gets close to them, don't wait for "more and more." The market can reverse quickly.
4. Watch for reverse signals:
The appearance of reversal candles or a decline in momentum indicators like RSI or MACD may guide you to close the trade.
5. Plan for partial exit:
You can close part of the trade to secure profit, leaving the other part to move with the market using a trailing stop loss.
💡 Expert Tip:
The correct exit is an art just like the correct entry; don't let paper profits turn into losses due to hesitation.
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🎁 Next lesson:
How to choose the most suitable currency pairs for your trading style?
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