Know When To Close Your Trades!
It's important to know when to hold a trade and when to close it.
Knowing can be difficult, however ask yourself - would I open a position at the current price?
For example, if you have bought a trendline and the trendline breaks should you close the trade? We say yes.
The exception to this is backtesting. If you backtest manual exits of a trade you can find the optimal exit strategy for your trade plan.
Knowing can be difficult, however ask yourself - would I open a position at the current price?
For example, if you have bought a trendline and the trendline breaks should you close the trade? We say yes.
The exception to this is backtesting. If you backtest manual exits of a trade you can find the optimal exit strategy for your trade plan.
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