Quote from lindq:
An account at IB (Interactive Brokers) will permit you to set limits, stops and a time to close. Mark them all with an OCA (One Closes All), and you can go about your other work without monitoring the positions.
As far as I know, there isn't any platform you can run on your own that you can trust to reliably monitor and close open positions. I automate all entries, but exits are another matter.
you may wish to consider learning that your entry and your exit are identities in software programing. They do have one periferal (sp) difference, however.
You would have to think to discover it. This binary difference is the sentiment.
You probably are advanced beginner of beginning intermediate. one of the common characteristics is entry/exit type trading.
Later on more highly skilled levels, a potential trader considers how to keep track of market sentiment.
The sentiment change of a trend and the trend end are not concurrent. This is because sentiment is price based and market timing is volume based. The beginning intermediate trader might know this.
Most people do entries by a process called edges. Edges come from looking at the market for 10,000 hours. In that 10,000 hours, and as you point out, no one looks for exit edges although they are seeing them just as often as an entry edge.
This lack of vision comes from NOT having a neutral bias. Most traders have edges that represent a long bias. This means they are totally unskilled in exiting (their mostly long edged entries).
Poor belief systems is what this thread represents. The very poor unthought out beliefs come as a result of the fact that anyone is allowed to trade. The finacial industry's bread and butter is commissions fed by ignorance.
The bread and butter comes from laziness and unthoughtfulness.
