How and When to Exit a Trade: Take Profit and Stop Loss Levels 🎯
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- เผยแพร่เมื่อ 16 มิ.ย. 2014
- ● Zak Mir, an experienced technical analyst comments about entering and exiting trades. How/When to Exit a Trade.
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Zak Mir, an experienced technical analyst comments about entering and exiting trades. How/When to Exit a Trade.
How to Determine Take Profit and Stop Loss Levels. I know what works and what works is successful money management over and above charting or the technical aspects. You take a position, irrespective if this was done on the toss of a coin and you move the stop loss with that position until the market stops you out. The key is to raise your stop loss to breakeven level as soon as possible. That way it is difficult to get wiped out and one day you will have a very big winner. I know that sounds like i'm doing myself out of a job but it important to be realistic what is effective and not effective. Money management is so important in this game. I think you can determine the take profit and stop levels using the average true range but really all you need to be concerned about is raising your stop to breakeven.
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I don't know anybody watch this video recently, this is really realistic video out there. At first, I did not understand him, he is truly genius.
One of the best and realistic videos you tube. just find low risk entries and keep doing all day, week,month. your account will grow and grow
Yep! Preserve your capital. Make loss avoidance your priority and the wins will take care of themselves.
Are u still profitable?
This is going to be my trading bible. Simple explanation yet profound. Thank you Mr. Mir!
This is one of the best trading videos ever! Watched it several times! :)
most useful info that 99% of these BS youtube videos, all they talk about is how to grow your account and how you can turn 1000$ into millions.
What this guy is saying is what i been doing for 6 weeks now, 50$ wins over and over and few 120$s or ... my account is up 33% already
What do you trade?
How much are you making now....... And did you get a comb for your hairy ass arms with the money?
what is your % gain at now?
Hi, is this strategy still working for you?
They're the one I like
£1 to £1 billion in 1 month
This has been probably the Single Most useful video I have ever watched on trading. It teaches so many things (risk management, trade management, stop loss and exit strategy) in such a simple language which just makes sense. Especially, the part about "5 types of trade" and killing your most profitable trade is so true. It has helped me a lot and I can't help but keep coming back to see this. Thanks you for uploading.
Wow, didn't realize how helpful this video was the first time I watched. Thanks for the upload!
This is a great video! This guy talks sense.
Absolutely practical advice. I wish I watched the video two years ago. It could be a life changer. Thank you Mr Mir. You are the top man.
Zak Mir is really good. I met Zak when he was with Sucden in c.1992 and have been very fond of him ever since.
Nice one Zak, great sense as always.
This has to be the single best advice I’ve come across in a while, can’t wait to implement it!
Great video and great interview. Solid, clear and simple. The fact that the guy uses the analogy of trades being as his sons, tells you how deep he thought about the issue.
This is the channel I never regretted to have subscribed to. Tons of useful real life experience presented in an easy and understandable way.
But I must say that this video tops all the 100+ I have seen here. Many thanks for making it available to us.
yea the way they think about things is great, their perspective i mean.. it shows their experience
So much of positivity in this video. Zak Mir is a deep guy. Thanks Zak
Very useful. About to watch again. Thanks.
One of the most useful videos I've ever seen on youtube about trading!
Wow great advice. This guy knows his stuff. You confirmed something I was thinking about all the time (moving the stops asap)
What a great video. I am getting set up to start swing trading and the advice that you provide here will be part of the foundation that I start from. Again, I have to say, great video, in the top 1% that I've seen. Thank you
This is the key. I will listen to this everyday. My style
My FAVORITE trading video!
This is great! Truly practical. And actually possible to apply.
About 80% of the time, I make about 1.5 times my SL and even run into 1:2 RR. but it turns and hit my SL. Proper targeting has been my problem. Just this morning I let 106pips on Brent oil turn into loses and hit my 30pip SL.
I'll learn to use this idea very well. Thank you very much.
Just came across this video while looking for some word on stop loss after being stopped out several times in my trades without a loss or very little profit. I guess my impatient was beginning to weigh in on me. After watching and listening the video, was encouraged to know I am on the right track. With my trading experience, I could easily relate to the issues raised in the video.The best video on stop loss explanation and other related issues. Kept it short & simple. Good examples used along the way. It has ideas that are relevant now and then. Was the course of how to identify and handle the five types of trades ever made?
I love these interviews!!!! So much sense!
Zak is the man who knows the FIVE!!!!
I watched this video early last year but didn't really grasp what he was talking about. A year later am back and I can relate everything.
Absolutely love this video; thank you.
This video is the golden nugget.
Definitely one of the best videos on this channel. Thank you!
Awesome video, excellent advice...Thank you Sir.
Commonsense isn't common ,this advise proves that . Truly great advise .
Great vid, excellent information, subbed!
thank you...Mr Zak Mir.." invest smart , keep it simple..!!!! "
this is a great video , straight to the point , basics are everything
Eye opening for us beginners. Very good explanation Sir.
Great video. Took me 8 years to learn. ☺️
Great so I have 7.5 years to go...
Whattt🙁
MrTruth111 8 years to learn trading
Hi Mr Zak, I really like the analogy of the children. touche'. hhhhh spot on what you said. excellent video thank you.
Great advice. I wonder if Zak put together a course on those five types of trades. Golden words on money management.
This was EXACTLY what i did this morning. Had I have held on to what I KNEW would happen on price I would have pulled 50 points. Still had a good day but frankly could have had an AMAZING day and had the rest of the week off!!! Still, tomorrow is another day!
i exit with RVI just like mark teached me, and its very effectiv
The key is to stay consistent with what he said.
With consistent application it is a game changer for sure.
No-nonsense trading right here ! This guy knows his stuff !
Great advice... I listened to this more than one
Loved the plane and child analogy,.😄
Best advice ever on stop loss
Finally, someone answered the question I've been asking youtube for 2 years... Thanks!
Great video, big fan of Zak
This is excellent advice and makes complete sense.
It means your confidence to enter a trade without stoploss. You will become a master of entry when you know you dont need a stop loss. You have well researched your entries.
this is great ! !
This is one of the best videos ever for a beginner traitor to watch this man is extremely intelligent
Thank You!
Great guy, very realistic advice.
Thank you for the video.
Great channel 👍🏻👍🏻 subscribed
Excellent advice, thank you
Excellent video!
Good point,put stop loss after small profit.....
EXCELLENCE, but few so-called traders will really understand what he really said
GREAT VIDEO THANKS! PERFECT
Excellent!!!
Pure gold right here.
wow...this is some really good insight. Im in the process of trying to execute exactly this consistently.
Great simple comments.
very very helpfull, thank you
Thank you for chat with you in TH-cam
Excellent video! I swear I always prefer when a UK citizen explains something to me over anyone else in the world.
Thank you
Brilliant!
Very ,very ,very good video
Taking profit is easy, not being greedy is tough
Best trading Advice EVER!
Easier said than done. Institutions spend so much time shaking us out, moving to break even gets you caught most times.
I don't know what it is but he has ....got ....it!
loved it
Sound advice.
well explained sir
Lol.. the fact that I’m in a trade in a trade right now and I can’t stop looking at it is funny 😂 Walk away boy!! 😂😂
Excellent
very useful videos
Thanks 😊
Such big nuggets here
This guy makes a lot of sense
Absolutely solid advice, I've experienced everything that he has said.
Moving a stop loss to break even as soon as possible is playing not to lose rather than not to win, you may get taken out on noise before the market goes in your favour.
if you put your stop losses to strict, you end up accumulating a bunch of losses. that's the way it is, you must risk something in order to get anything.
if you move stop loss up too much too fast you get stopped out with daily volatility and miss the gains
thank you
The best way to do it is if your trades have equal SL and TP. If one trade can bring back three losses, then that same trade can take back three profits.
Yes think of it in a mechanical way have a rigid take profit and stop loss and you will be trading like a casino to make consistent profits over a long period of time
How do you deal with stop losses in after hours and pre-market, especially around earnings. Prices can move a lot outside of regular trading hours and stop loss triggers are not triggered
thanks.
The pullbacks make me s..t myself lol nice I had a nice dive once and it really tore into my account because I jumped in when the market opened big mistake
I always seem to keep raising mine too tightly and get stopped out on a little pause or pullback before it moves up again. Still really struggling w/that one.
I wonder how true it really is with the children part
That is the best one. The fact that the guy uses that analogy, tells you how deep he thought about the issue.
What would be the drawback of a strategy were you move your stop to break even and let the position run for the entire day or a set period of time (30 min - 1 hour)? A strategy like that seems very unemotional.
Place trade, trade goes in your favor 10-15 cents, move to break even, then hold for the big win. Any thoughts? Great teacher. Great video. Great channel. Thanks you in advance.
what if they never go your way? Always incurring small loses etc...
Half of people tell you to move to breakeven the other half tell you to accept the risk of a trade. They both tell you it's common sense. Correct money management is different for every person/strategy. Backtest your shit and decide for yourself. Don't just take some confident guy in a suit on the internet's word for it.
Next time I will set up my stop slow right under candle lol
I exit half qty when i feel scared of reversal and for rest half qty trail SL to breakeven and let it run till i get 1: 4 RR