In my experience there are phases to creating a strategy. In this episode we will cover one of the most important steps: establishing an exit strategy. Exiting a position is crucial to risk management. If your entries are terrible but you have a good exit strategy, you might get by and not lose a lot of your capital. And vice-versa, if your entries are great, but your exit strategy is terrible, you my not make any profit.
Concepts we will cover in this episode:
Concepts we will cover in this episode:
- Integrating an indicator value as a trailing stop.
- Lowering the trailing stop sensitivity by using the Average True Range (ATR).
- Customizing the ATR value.
- Brief introduction to 'modules'.
