Exiting a long or short trade, what indicators to verify exits using price action?
Hello fellow Ninja Traders,
Using strategy builder, I would like to do the following:
I'm using a strategy that enters a momentum trade either long or short, and rides the movement up or down until reversal starts or the trend appears to change.
My issue is, I haven't found a good way to exit these trades. I either exit too early using price of last candle checks or other ideas I've tried, or too late using MA crossovers and ideas of that nature. While I realize it's not possible to capture 100% of the profit, I am too early or too late - every time.
Can someone suggest a method to check price or perhaps that in conjunction with some indicators so I can test exits with multiple confluence?
Thanks in advance for any advice. Open to trying anything, would like to use strategy builder please.
Using strategy builder, I would like to do the following:
I'm using a strategy that enters a momentum trade either long or short, and rides the movement up or down until reversal starts or the trend appears to change.
My issue is, I haven't found a good way to exit these trades. I either exit too early using price of last candle checks or other ideas I've tried, or too late using MA crossovers and ideas of that nature. While I realize it's not possible to capture 100% of the profit, I am too early or too late - every time.
Can someone suggest a method to check price or perhaps that in conjunction with some indicators so I can test exits with multiple confluence?
Thanks in advance for any advice. Open to trying anything, would like to use strategy builder please.
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