Exit Strategies

lawrence_gilbertpga

I am a day trader with average trades lasting 1 to 3 hours. I use 5 and 10 minute charts with MACD and Slow Stochastics. I also use Bollenger Bands to look for strength of trend.
My question is simple. I need an indicator(s) that will aid me in my exiting positions. I find I have been leaving a lot, 40 to 50%, on the table.
I appreciate your time, so any help would be great.

Lawrence Gilbert

markd

I don't spend too much time in the intraday time frame, so maybe I shouldn't answer. But if you want, can you post a chart or two, ideally with your indicators on it, and where you entered and exited, and what you used for triggers to get in and out? Different things trade differently, so the same ideas may not work across the board. But, I'm thinking maybe some higher time frame methods would work intraday as well.

lambchops

Larry, we day traders need to stick together. Chip introduced a new indicator recently that has been amazing for me, Kaufmans Adaptive Moving Average. I set up the default KAMA which I designate as Blue Kama, and then I change the default from 2 to 5 which gives me the trend, I designate this as Red Kama. These keep me in my trade until Slow Stochastics 5,1 crossing over 80 gives me my exit. I also use a Heikin Ashi chart which gives me additional confidence. I only trade 3X Junior Gold and I rarely have a loss. I hope this helps.