Three exit methods and choices in foreign exchange trading

[Polakandil]

Therefore, discipline is very supportive in this case to avoid FOMO and greed, although it may be quite hard to do, however, if traders can do it well, it can improve the quality of trading to be better.

 

[borzy]

Therefore, discipline is very supportive in this case to avoid FOMO and greed, although it may be quite hard to do, however, if traders can do it well, it can improve the quality of trading to be better.

Sometimes the greatest returns come from FOMO because irrational behavior of investors is a source of opportunities. That's why we should not ignore such trends completely but instead should attempt to capitalize on them time to time.

 

[PhoenixJ]

Good for beginners I think.

 

[Polakandil]

The market can indeed move due to the increasing volume of demand from big players but we have to be careful that they take advantage of FOMO by retail traders.

 

[brooksjanet24]

Sometimes the greatest returns come from FOMO because irrational behavior of investors is a source of opportunities. That's why we should not ignore such trends completely but instead should attempt to capitalize on them time to time.

Agreed. As long as the risk management game is strong, FOMO can be overridden.

 

[mecbelly11]

For exit if I feel the trade is not working I come out ASAP. With small profit or loss if I can. For taking profits it depends on the the trade. Maybe I'm doing the breakout trade where stop losses are triggered and price shoots up.

9apps​

Even investors working long-term must know how to determine the best entry and exit points. And this applies to absolutely all markets

 

[Fin_Trader]

Greed indeed leads to significant losses, especially when a trader systematically uses high leverage without considering volatility. However, greed is necessary in general because, without it, it’s impossible to overcome the fear of losses—everything just needs to be in moderation.

The sign of a greedy trader is an untimely exit from a trade, i.e. "sitting out" in a position and taking excessively high risks. It is bad when a trader is too greedy and when there is not enough greed.

 

[Fin_Trader]

Even investors working long-term must know how to determine the best entry and exit points. And this applies to absolutely all markets

Each trading strategy will have its own market entry signal. This may be the intersection of trend indicators in a certain order, the exit of the oscillator from the overbought or oversold zone, support or resistance levels, the formation of a candlestick pattern. What these conditions will be depends on the trading strategy and analysis tools that the trader uses.