Best way to exit trade Automatically
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Which the best ways to exit trade automatically, when direction of the market is about change.
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@gozey Hello,
In my opinion there is no best way and it all depends on your specific strategy. In general you may wanna try a trailing stop that will actually exit the trade as the market reverses.
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@gozey
The best way to exit a trade when the direction of the market direction is about to change is at the local high for a buy trade and vice-versa.
The challenge rather is knowing when the market direction is about to change. Some patterns that can predict such things are : clear trend for a certain amount of time ; proportion of bull candles significantly higher than the bear ones ; or even the level of auto-correlation increasing sharply. These patterns will be detected by little more complex systems than a single common indicator though. -
@q8carpenter
OK please do give me an sample tree thanks -
@gozey i dont mean to sound rude. You first need to trade manually and understand how the market works, learn how indicators work. Once you have a clear strategy on what your entry and exits are. Based off that than you try to automate it.
If you dont know how to code but have a good understanding of how markets indicators work than you can use platforms like this to automate your strategy
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@gozey I think that there is something missing here. What is your exact requirement? Do you happen to have your whole strategy figured out and just need an exit idea?
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@q8carpenter
thanks it works
bro
