What are your ideas?Most wanted are those who use ATR for that purpose.
Thanks
Thanks
Exit position using Price Action
- Thread starter Rorschach_test
- Start date
more English,please
maybe you can provide a chart to clarify what you mean?
Will try to explain:
if you want to exit your trades based on ATR it probably makes sense to combine optimal statistical MFE (maximum favorable excursion) of your trades with ATR values to get sort of formula for exit prices, like if price reaches point of either MFE, part of ATR or whole ATR (depending on where in the day's range you entered your position) or both then you exit.
Frankly I use just MFE and care less of ATR, probably should, I don't know.
if you want to exit your trades based on ATR it probably makes sense to combine optimal statistical MFE (maximum favorable excursion) of your trades with ATR values to get sort of formula for exit prices, like if price reaches point of either MFE, part of ATR or whole ATR (depending on where in the day's range you entered your position) or both then you exit.
Frankly I use just MFE and care less of ATR, probably should, I don't know.
because that`s too easy for my mind
jokes aside,i think ATR would be more naturally.i just don`t know how to use it.
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
:eek: 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
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"
).