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How do you take Profit ? (Exit strategies)


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How do you take Profit ? (Exit strategies)

  #1 (permalink)
 
OG65's Avatar
 OG65 
Taxhell Germany
 
Experience: Intermediate
Platform: .
Trading: DAX40
Posts: 44 since Sep 2021
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Hey,

I am a BTC Trader mainly based on TA and Price Action in Timeframes such as 5 and 15.
BTC is very chopy in and has quik reversals. I feel like I dont have a good exit strategy.
Right now I am taking Profit when the previous support that became now resistance gets broken.
and if the resistance not break i am trying to add to the Position and so scale in more.

I feel like I am wasting a lot of Profit in the shorrterm.

If you guys have other exit strategies please feel free to share them!

regards

OG

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  #2 (permalink)
karohm
Toronto, Ontario
 
Posts: 11 since Feb 2021
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hey,

try fibonacci extensions, you should learn how to use them

Good luck

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bob666s
Auckland + auckland/new zealand
 
Posts: 65 since Jun 2016
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i take a bit off when cash price gets above estimated fair value, based on average productuon cost. Current fv estimate is at 49.2K~


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