Exit position using Price Action

Quote from cornix:

Say ATR is 100 ticks, you had a signal and entered long 50 ticks from the bottom of day's range. If price goes ITM by 50 ticks you exit, cause ATR is reached (assuming "A" in the acronym means "average" :) ).
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what if the range bottom is`nt reached?
 
Quote from Rorschach_test:

...i think ATR would be more naturally.i just don`t know how to use it.
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Quote from Rorschach_test:

Like i said,i don`t know how to use ATR.How do you define the ATR boundaries?I do not enter on open and exit on close.The entry can be anywhere during the opening hours,10-20-30-59% from opening?Did i just answred my own question now:confused: :eek: :D
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How can you say that ATR would be "more naturally" while at the same time you don't use it, don't understand it based upon the questions you keep asking. :confused:

Further, just in case you didn't know it, everything cornix has explained to you so far is easily obtainable on Google and Youtube with tons of chart examples. My point, the ATR is very commonly discussed, demonstrated with videos, charts, books (lots of books), blogs and so on.

http://www.google.com

http://www.youtube.com

http://www.elitetrader.com/vb/search.php?s=

At any of the above links...just type "Average True Range" or type "ATR Indicator".

I apologize in advance if you've already used the above resources and was overwhelmed with the tons of information about the ATR and you just wanted a quick short detailed summary that answers all of your questions involving a trade method via the ATR.

With that said, you started an earlier thread about volatility involving Forex pairs @ http://www.elitetrader.com/vb/showthread.php?s=&threadid=280288

Therefore, I will assume you're interested in the ATR so that your can do your own volatility measurements or attempt to use it as a directional trade signal beyond knowing what's volatile and what is not volatile involving Forex Trading. Simply, it now seems (I could be wrong) you're looking to trade Forex pairs that's the most volatile or increasing in volatility to help you avoid getting into trades of low volatile forex trading instruments.

With the info from your other thread, I think you can fine tune your research involving "ATR Forex trading" and you'll discover several forex forums have dedicated in-depth discussions involving ATR methods. Thus, I recommend you learn those discussions and then bring it here to EliteTrader.com because ET has a Forex section that would welcome ATR discussions @ http://www.elitetrader.com/vb/forumdisplay.php?s=&forumid=38

What forex charting you're using that has the ATR indicator and/or what forex trade execution program you're using ???

P.S. There's an ET sponsor (leveragefx) that's big into ATR for forex trading. You may want to contact them.
 
By the way, I'm not trying to be picky but your thread title is the following...

Exit position using Price Action

The ATR is an indicator. Simply, if you're interested in "price action trading" to help with your position exits...you will not be using indicators.
 
Quote from Rorschach_test:

What are your ideas? Most wanted are those who use ATR for that purpose.

Thanks
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What is the goal of your question? Any rigid system will fall far short of capturing the full potential of any instrument or position.

Seconded on the query about indicator reliance.

Post a series of naked PV charts on any interval you want and I'll give you an exit when it comes.
 
Quote from llIHeroic:

What is the goal of your question? Any rigid system will fall far short of capturing the full potential of any instrument or position.

Seconded on the query about indicator reliance.

Post a series of naked PV charts on any interval you want and I'll give you an exit when it comes.
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if you please
 

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For long term trading in Commodities and Stocks, I revert to weekly charts and using divergence. Five minutes before last day of trading week and last week was divergent, if price is above last weeks' high, position is exited.
 

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Quote from Handle123:

For long term trading in Commodities and Stocks, I revert to weekly charts and using divergence. Five minutes before last day of trading week and last week was divergent, if price is above last weeks' high, position is exited.
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Hi Handle,

thanks for sharing it.i don`t use options and weekly charts.i want to find exits for the intraday trades.
 
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