5 Exit Heroes

8/12/2019 5 Exit Heroes

http://slidepdf.com/reader/full/5-exit-heroes 1/19

The 5 Exit Heroes

Exiting Your Forex Trades For Maximum Profits

IMPORTANT : As an added bonus for downloading this report,

you also received additional free training videosTo access your bonuses, go to:

http:!!wwwsubli"efore#cha"pionsco"!

http://www.sublimeforexchampions.com/

http://www.sublimeforexchampions.com/



Content & Quick-Links

Forex Exit Strategies, Page 2

ntroduction

!hen it comes to trading Forex"

one ski## that must $e

mastered%%%%% C#ick Here

u''ort()esistance

The first exit strateg*" and a#so

the sim'#est for ne+comers" is

using%%%% C#ick Here

Price Patterns

,#though it takes more

ex'erience to s'ot them" 'rice

'atterns%%% C#ick Here




Fi$onacci Extensions

ne sim'#e +a* to determine

the right exit 'oint is

Fi$onacci%%% C#ick Here

Trend#ine Channe#s

!hen channe#s form +ithin an*

trend" this can a#so make an %%%%%

C#ick Here

Pi.ot Points

Pi.ot 'oints can easi#* $e used

to determine timing for%%%

C#ick Here



ntroduction

When it comes to trading Forex" one ski## that must $e mastered is exiting the

trade% ure *ou need an entr* 'oint" a mone* management s*stem" and a good

genera# trading kno+#edge" $ut +ithout the right exit strateg* *ou ma* $e #ea.ing

mone* on the ta$#e% n this re'ort +e/## co.er 5 different strategies that +i## he#'

*ou to exit the trade at the right time%




There are a fe+ +a*s to choose *our take 'rofits" and each ha.e their o+n uni0ue

ad.antages and disad.antages% ,#though there exists a .ariet* of +a*s to choose

'rofit targets" man* traders do not understand ho+ to make accurate 'rice

'ro1ections% ,s such a 'ro'er exit strateg* is needs%

,s an exam'#e" some traders use osci##ators to enter their trades% !hen a''#*ing

osci##ators the trader +ou#d then fo##o+ the osci##ator ti## it reaches an o.er$ought

area and then decide to se##% n the f#i' side" the* +ou#d $u* +hen an osci##ator

reaches an o.erso#d #e.e#% 2ut $* using osci##ators the* cannot determine 'rice

ranges and as such the* ha.e no idea +hen to exit the trades%

Here are some im'ortant conce'ts +hen *ou are de.e#o'ing exit strategies that

+ork3

4 u''ort(resistance

4 Price 'attern target measurement

4 Fi$onacci extensions

4 Trend #ine channe#s

4 F#oor trader 'i.ots

n this re'ort +e/## co.er a## fi.e of the strategies #isted% ur intention here isn/t to

te## *ou 6take 'rofit at this 'oint7% )ather +e +ant to gi.e ideas on ho+ to create

the $est exit strategies for *our trading s*stems and trading st*#e%




The 8st Exit Hero3

u''ort()esistance

The first exit strategy, and a#so the sim'#est for ne+comers" is sim'#* using the

nearest su''ort(resistance areas as the targets for taking 'rofits% This is one of the

most common of a## the 'rofit targets since su''ort and resistance are eas* to find

on the charts%

The ad.antage to using su''ort(resistance to determine 'rofit targets is that it/s

0uite sim'#e% You sim'#e fire u' an* chart and dra+ *our su''ort and resistance

#ines% The disad.antage in this case is that the method doesn/t +ork if *ou/re




trading $reakouts or trends that ha.e $eat the su''ort(resistance #e.e#s% n fact" this

s*stem is $est suited to those +ho a#so use su''ort(resistance as 'art of ho+ the*

determine their entr* 'oints%

n that case *ou +ou#d enter +hen the currenc* 'air $ounced off a su''ort and(or

resistance and then exit +hen it hit the next resistance or su''ort%

Ha.ing said that" su''ort and resistance #e.e#s can $e used to determine exit 'oints

on an* trade 9assuming that the currenc* 'air is +ithin a range +here it has

're.ious#* $een:% To use this method *ou +ou#d3

8%Look at the next timeframe chart a$o.e +hat *ou are trading 9if *ou/re trading a

one hour chart" chart the su''ort(resistance on the four hour:%

;%Chart the #ong-term su''ort and resistance #e.e#s%

<%=se those as *our 'rofit targets for *our trade%

t/s a#so suggested that *ou chart the ma1or(minor su''ort and resistance #e.e#s on

se.era# other charts% >no+ing +here these #e.e#s are on the #onger and shorter term

charts +i## he#' to ensure that *ou are a$#e to +atch that #ong trade as it nears a

minor resistance from another timeframe" and in turn $e a$#e to exit if things turn

around%




The ;nd Exit Hero3 Profit Target

Measurement

Although it taes more ex!erience to identif* them" 'rice 'atterns can $e used as

an exit strateg*% n this case the 'atterns are used to create a 'rofit target

measurement" $* #ooking at +hat has ha''ened and attem'ting to determine +hat

+i## ha''en%

There are man* different t*'es of 'rice 'atterns% ome exam'#es inc#ude3

4 )ectang#es

4 Triang#es

4 !edges

4 Pennants 9'rice f#ags:

4 ?ou$#e To's

4 ?ou$#e 2ottoms

4 thers

There are actua##* a num$er of +a*s to use 'rice 'atterns to *our ad.antage% ,s an

exam'#e dou$#e to's or $ottoms can $e used to determine more than 1ust entr* 'oints" the* can gi.e *ou an exce##ent '#ace to exit the trade%

Looking at the chart on the next 'age" *ou can see the dou$#e $ottom +e/.e sho+n"

and there/s a#so a dou$#e to'% t/s 0uite sim'#e to ca#cu#ate that there are

Forex Exit Strategies, Page "



a''roximate#* ;5@ 'i's $et+een the dou$#e to' and dou$#e $ottom and then use

that as a 'rofit target%

Like+ise other 'rice 'atterns ma* $e used to determine +hen the most a''ro'riate

time to exit the trade is%




The <rd Exit Hero3 Fi$onacci

Extensions

Forex Exit Strategies, Page #$



Another excellent %ay to manage *our trades entire#*" and set take 'rofits that

mo.e +ith the trade" is $* using Fi$onacci extensions% 2* using this method to

create *our take 'rofit #e.e# *ou not on#* can find a target" $ut *ou can use the

Fi$onacci to mo.e *our target if the trade continues in *our fa.or%

Take a #ook at the chart $e#o+3

n Forex" +hen *ou use Fi$onacci charts" *ou/## find that currencies often $ounce

at the <AB" 5@B" 8%A@B" DA%@B" 8@@B" 8;DB" etc" #e.e#s% Looking at the chart

a$o.e *ou can see that the currenc* 'air $ounce $et+een 5@B & ;<B a num$er of

times $efore continuing on to an extension%




The fact that the currencies 'rice tends to $ounce on Fi$onacci #ines" makes it

sim'#e to use these 'oints as an exit strateg*% You can enter *our trade +ith the

'rofit target of DA%B" and then mo.e *our target it the 'rice mo.es 'ast that 'oint%

,ssuming it didn/t $ounce at DA%B" *ou ma* set *our next 'rofit #e.e# to 8@@B"

and then mo.e to 8;DB as the 'rice mo.ed through that 'oint% You can a#so use

the Fi$onacci extensions to manage *our sto's and 'rotect *our 'rofits as the trade

mo.es in *our fa.or%

,nother +a* to use Fi$onacci to manage take 'rofit #e.e#s is +ith Fi$onacci fans3

This is s#ight#* more com'#icated so +e +on/t co.er it in detai#" $ut it has the

ad.antage of sho+ing Fi$onacci ratios that mo.e +ith *our trade% You/## find that

the 'rice in an* u'trend or do+ntrend often fa##s $et+een an* t+o #ines of the

ratios on the fan% nce the 'rice mo.es outside of those t+o #e.e#s the trend is

usua##* o.er and it/s time to exit 9of course if it mo.es in *our fa.or" it/s #ike#* a

Forex Exit Strategies, Page #2



$reakout and *ou shou#d dra+ a ne+ Fi$onacci fan to 'rofit from it:%

The th Exit Hero3 TrendLine

Channe#s

!hen channe#s form +ithin a trend the* can a#so make exce##ent exit 'oints 9the*

a#so +ork +e## for entries:% This idea fo##o+s a##o+ the same #ines as the Fi$onnaci

fan idea +e shared ear#ier" $ut in this case +e/re using trend #ines instead of a fan%




Take a #ook at the chart $e#o+ +ith a trend#ine channe# dra+n3

Looking at the trend#ines dra+n a$o.e" it $ecomes c#ear ho+ sim'#e this too# is to

use to determine exit 'oints% f *ou/re in a trade +here the 'rice is current#*

$et+een t+o trend#ines" *our 'rofit target shou#d $e the trend#ine itse#f%

!hen these t*'es of channe#s form *ou/## find that most of the time the 'rice +i##

$ounce $et+een the #ines and +i## #ike#* continue to do so unti# something ha''ens

to change the 'rice 9i%e% a ne+s re#ease" a ma1or su''ort(resistance #e.e#" etc:% This

can make trend#ine channe#s an exce##ent trading too# in genera#% You can ride the

trend $oth +a*s and 'rofit from the u' and do+n mo.ement $et+een channe#s%




t shou#d $e noted here that trend#ine channe#s are simi#ar to using su''ort and

resistance #e.e#s to find *our 'rofit targets% n this case though the

su''ort(resistance mo.es +ith the trend 9+hich it usua##* does an*+a* - +e/re 1ust

dra+ing it that +a*:%

The 5th Exit Hero3 Pi.ot Points

Pi.ot 'oints are the a.erage resistance #e.e#s 9)8" );" and )<: and the a.erage

su''ort #e.e#s 98" ;" and <:% Most charting soft+are a##o+s *ou to add 'i.ot 'oints" and these 'rice 'oints can easi#* $e used to set 'rofit 'oints%




!hen using this method *ou shou#d ca#cu#ate the 'i.ot 'oints for the time frame

*ou/re trading and for the t+o time frames a$o.e it% For exam'#e if *ou +ere

trading the hour charts" *ou +ou#d +ant to kno+ the 'i.ot 'oints for the -hour"

dai#*" and +eek#* charts%

Ho+ *ou use these 'i.ot 'oints +ou#d de'end a #itt#e on ho+ *ou/re trading% 2ut"

the reason this 'articu#ar exit strateg* +orks +e## is $ecause 'i.ot 'oints are

'redicti.e rather than #agging% n other +ords" +e can determine the future su''ort(

resistance #e.e#s using a.erages rather than 1ust using 'ast #e.e#s%

n the chart a$o.e the center#ine in the chart a$o.e is the PP 9'i.ot 'oint% ,$o.e

that #ine *ou ha.e )8" );" and )<% 2e#o+ it *ou ha.e 8" ;" and <%

These #ines re'resent the a.erage su''ort and resistance #e.e#s for the currenc*

'air% Each )( #e.e# is the resistance #e.e# +here *ou ma* ex'ect the currenc* 'air

to turn around%




,s an exam'#e" if +e entered a #ong trade at the 'oint on the chart and the trade

mo.e in our fa.or" +e can ex'ect the currenc* 'air to find resistance at )8% f the

'rice $reaks through )8" then the next ma1or resistance #e.e# shou#d $e found at

);% ,gain" if it $roke through );" then +e +ou#d ex'ect it to continue to )< 9the

); #e.e# then $ecomes a su''ort #ine rather than a resistance #ine:%

There are actua##* a num$er of +a*s to use 'i.ot 'oints as take 'rofits% You cou#d

enter a three #ot trade and set each )( #e.e# as the take 'rofit #e.e# for one of those

#ots% r" *ou cou#d sim'#e use the 'i.ot 'oints as a method to mo.e the 'rofit

targets and sto's on an* trade% !e kno+ that once the 'rice $reaks through a

ma1or su''ort(resistance" that same #e.e# changes to the o''osite 9a su''ort

$ecomes a resistance and .ice .ersa:% >no+ing this can make 'i.ot 'oints an eas*

method for creating an exit strateg* that +orks%

&onclusion

You no+ ha.e fi.e different ideas for setting 'rofit targets $ased on the current

market d*namics% !ith a## fi.e of the methods #isted" rather than gi.e *ou actua#

num$ers or targets" +e/.e gi.en *ou ideas that can $e used to ensure *ou maximiGe

the 'rofits from a## of *our trades%

The $est +a* to use the information *ou/.e $een gi.en is to master at #east t+o of

these ideas $* a''#*ing them to *our trading strategies% nce *ou the ski##s needed

to use a cou'#e of exit strategies +e##" *ou/## a#so ha.e the kno+#edge needed to

maximiGe the 'rofits from *our trades%




E.en +hen *ou/re trading s*stem gi.es *ou *our exit strategies" it can $e +orth

#ooking at the methods *ou ha.e to see if *ou can/t im'ro.e it% You/## often find

that $* sim'#* +orking +ith some of the ideas *ou no+ ha.e" *ou/## $e a$#e to

'rofit more from a## of *our trades%

8@ extra 'i's once ma* not seem #ike a #ot% Ho+e.er" if *ou manage to s0ueeGe 8@

extra 'i's from 5@ trades $* sim'#* kno+ing a cou'#e of different exit strategies

that can 0uick#* add to *our account $a#ance%

ho'e *ou en1o* the .ideo" and most im'ortant#*" im'ro.e *our trading using

those sim'#e ru#es +e ha.e gone through in this training% 2ut +e/re 1ust getting

started%% n the next .ideo in this series" /m going to gi.e *ou some more

im'ortant $rand-ne+ trading conce'ts" 'rinci'#es" and strategies" and exam'#es of

ho+ to a''#* those in rea# #ife trading" and thats gonna $e free as +e##%

o '#ease $ear +ith me for a cou'#e of da*s as /m getting it done for *ou%

2e on the #ookout for it" and make sure *ou dont miss it%

2efore ca##ing it a da*" heres something e#se +ant to share" and think *ou might

$e interested% The stuff *ou #earnt a$out The Fi.e Exit Heroes 1ust no+ in this

.ideo are the resu#ts of *ears of tria# and error" testing" and co##ecting successfu#

exit stategies% The* are the a$so#ute#* $est +a* to exit the trade for #ong-term

success% 2ut it/s 1ust scratching the surface% !e/## $e ta#king a$out these Fi.e Exit

Heroes in a #ot more detai# on the +e$inar +e/## $e ho#ding% ,nd +e +i## a#so

ans+er a## the 0uestions *ou might ha.e regarding these exit methods% To register

for the +e$inar" '#ease go to

Forex Exit Strategies, Page #"



htt'3((+++%su$#imeforexcham'ions%com(+e$inar

n the +e$inar" +e/## gi.e *ou a demonstration and sho+ *ou #i.e in action ho+

a## fi.e exit heroes are integrated in our ne+ trading so#ution named the u$#ime

Forex Cham'ions% f course" +ith the information +e gi.e *ou in this .ideo and

on our free +e$inar" *ou a#read* ha.e enough kno+#edge to $ui#d *our o+n

trading method around these 'o+erfu# exit strategies% 2ut" +hat if it/s a## ?IE

F) Y=" +hat if a## fi.e exit strategies are ,L)E,?Y incor'orated in sim'#e

'ieces of a#gorithm that te##s *ou EJ,CTLY +hen to exit the trades the right and

'rofita$#e +a*K You +i## ha.e a chance to +itness it first-hand on our +e$inar

+hen +e demonstrate #i.e ho+ the s*stems inside our u$#ime Forex Cham'ions

cou#d do it a## for *ou%

o if *ou +ant to #earn more a$out ho+ +e/.e 'ut together a## the e#ements that

*ou/re going to need to $e a forex cham'ion 1ust go to

+++%su$#imeforexcham'ions%com(+e$inar

F E i S i P 19

http://www.sublimeforexchampions.com/webinar




Date post:	03-Jun-2018
Category:	Documents
Upload:	mrajeetsingh
View:	217 times
Download:	0 times

5 Exit Heroes

Documents