A good indicator to exit a trade. Forex trade entry and exit indicators

Forex traders talk a lot about the perfect entry point, combining various indicators and basic conditions to find the best opportunities. Much less attention is paid to choosing a good exit point, although this is an equally important aspect. The best ways to exit a trade in our article. The correct choice of the exit point from the transaction in the forex market, read on.

One of the most logical way Exiting a Forex trade refers to the strategy you entered the trade with. You must have already planned the exit in advance. For example, if you enter a position at a moving average crossover, it is usually best to exit at the opposite crossover. In addition, if you bought on a breakout, you should sell when the price breaks the low mark. To exit a trade, you must have some predetermined criteria.

It can be used to protect against losses and fix profits. Used alone or in combination with another method. One of the difficulties of using a trailing stop is determining the distance from the price action. Placing an order too close results in taking profits too early. And setting it too far can mean that you don’t get any profit at all. Trailing stop testing using past data is a good way to find the correct distance.

The question is, is it possible to use these methods for i-trading?!

It is a good way to exit a Forex trade, provided you choose a realistic level. If the target price is too far away, it will not be reached and you will most likely end up losing money when the market reverses. Similarly, if your target is set too close, then you are not earning enough to justify your current risks.

Technical levels, such as pivot points, are an excellent price guide. They use the latest data to adjust to market volatility. Key reversal levels are realistic price targets for profit. In addition, pivot points are monitored by thousands of professional traders and are therefore better at predicting pivot points.

Technical indicators

Fibonacci, Elliot waves and other technical indicators are also good ways Exiting a Forex trade, and are most effective in day trading. Mathematical Fibonacci sequence predicts turning points with extraordinary accuracy, and the ATR indicator is a good tool for measuring price movements. Instead of choosing an arbitrary number of pips as your profit level, halving the ATR for the last 14 days will give you more realistic data.

Studying the statistics of the work of many traders, it is often possible to come across a situation where the trading analysis is done correctly and the direction is chosen correctly, where will he go price, but due to the inability to determine the best entry point for opening a position, it is impossible to earn. A trader can catch one or even several stops, suffer serious losses, despair and decide not to trade, when suddenly the price, as if by magic, quickly flies in the right direction. Each trader is able to remember many similar stories, and in order to avoid such situations, you need an entry indicator to work on Forex, which will show exactly where to open a deal and where to hide the stop loss.

One of these tools will be discussed in this review, which will allow everyone to get an effective tool for opening deals. At the same time, the analysis itself can be made complex, relying not only on the indicators of the indicator, but also on macro statistics, the movement of futures, and so on. That is, nothing prevents making forecasting complex.

How to properly prepare for work

The main advice that should be given to every beginner before starting work is not to clutter up the price chart with unnecessary and incomprehensible tools. Looks especially stupid. workplace, which simultaneously contains trading instruments intended for the same purposes. For example, when there are several trend indicators or oscillators with the same principle of operation, etc.

Therefore, it is advisable to choose only the most necessary tools who will really help the situation, and not interfere with it. This is where you should definitely use the entry indicator on Forex, as this contributes to a significant increase in the chances of success.

Tool for pinpointing inputs

Most strategies and trading techniques are based on simple formations. One of them, without a doubt, is 1-2-3. This signal is of a breakout nature, which combines two important points - momentum and an accurate understanding of where the stop loss will be. This combination contributes to the formation of the best Forex entries, so we suggest downloading this indicator HERE.

Next, the file received in the archive must be installed in your MT4 trading terminal. To do this, launch it, click on the "Open data directory" item located inside the "File" menu, find the MQL4 folder and inside it "Indicators". Having placed the unpacked “Indicator” file here, MT4 is turned off and on again, and then on the left in the list of indicators of the “Navigator” window, they find the instrument of the same name at the very bottom and add it to the chart.

As a result, the price chart should take the following form.

When adding, in the "Parameters" tab, you can make additional settings for the indicator of inputs, if necessary.

How to access the settings and what to change there

If the indicator is already installed, and the settings need to be made in the process, then press the key combination "Ctrl + I", check the box next to "Indicator" and click "Properties".

Now for the settings themselves. For convenience, here is a screenshot where the main groups are marked.

The first three parameters, circled in red square, are the conditions for displaying the 1-2-3 model. If you increase the numerical values in the corresponding fields, then the pattern will appear less often, but its accuracy will improve. And vice versa - a decrease in digital values will give more signals, but the number of false ones will increase.

The following three options allow you to customize how the individual lines are displayed on the price chart.

The category of Show Targets settings, as their name says, is responsible for visually displaying targets after entering a Forex position. When catching movements, it is optimal to cover part of the position with a profit in advance, and hold the rest for a little longer. Therefore, there are two fields here. Target1 Multiply sets the first target separately, while Target2 Multiply, respectively, shows where you need to close the rest of the deal after entering.

The Hide Transitions option enables or disables channel building. Below in the screenshot you can see how the Forex chart looks like if the channel display is enabled in the entry indicator.

Having found out what can be configured and how, it is worth moving on to considering the practical value of the indicator.

How to use the indicator for precise entries in the Forex market

Before a trader who uses an entry indicator on Forex, there are 4 types of signals:

Opening a position on the market at the moment the arrow appears.
Wait for the arrow to appear, and then rollback, and only then enter.
Perform an operation upon breakdown of a local minimum/maximum (depending on the direction of the pattern).
Well, you can still enter, waiting for a signal to rebound from the horizontal levels that the indicator draws, in the direction of the index arrow.

Now let's look at examples for each situation separately in order to better understand when to make an entry on the Forex indicator signal.

Example of the first signal

The first option involves entering the market immediately after the arrow appears. In this case, the protective stop is hidden behind the last local extremum, and as a take profit, they are guided by the nearest border of the indicator channel.

It looks like this in the screenshot. Here is an example of buying and selling.

Example of the second signal

The second type of signal is more conservative, since here the entry to Forex does not occur immediately after the formation of an arrow in the indicator, but only when the price rolls back after the impulse. By the way, it is easy to guess where the correction will develop, since reversals usually occur near the levels.

In the screenshot above, you can see how, after the arrow appeared, the trader waited, and only then entered the market. The stop should also be hidden behind the previous local low for buy trades and behind the high for sell entries.

The risk of this approach is that there may not be a rollback, and the advantage is that the potential stop is much less than in the example of considering the first signal.

Example of the third signal

In the case of the third signal, there is a classic working out of the 1-2-3 pattern. That is, the entry point is a breakdown of the previously set minimum / maximum. That is, a trader enters on an impulse, risking a stop, but having a high probability of quickly reaching the target level.

Example of the fourth signal

An example of the last type of signal that the entry indicator gives on Forex looks very curious. It allows you to actually engage in scalping, opening positions at the moment of rebound from the level. In this case, the stops will be the shortest, and the ratio of profit to loss the most interesting.

Alternative ways to support transactions

Considering that trading is always carried out in the direction of the impulse and usually along the trend, instead of fixing deals on take profit at levels, you can try to hold the position counting on even more profit. In this case, the signal to exit the transaction will be the appearance of a reverse signal, that is, an arrow.

Below in the screenshot you can see how much profit the trader could get if he just held the position until the formation of a reverse signal. Compared to the classic option, where the deal would be partially covered, the exit after the appearance of the deal in the opposite direction gave more profit.

The numbers on the screenshot are chosen according to how the signals can be processed.

Time interval for entry

The indicator works equally well for finding entry points both in Forex and in other financial markets. In this case, the time interval does not matter much. You can work equally effectively on M5, and on H1, and on D1. So here, as it is more convenient for anyone, the choice of a working timeframe does not give any special advantages.

If desired, the indicator's signals can be used to look for global trends, and then look for entries on Forex on small timeframes and hold a deal, focusing on a longer time interval. With this approach, the ratio of profit to loss can be 1:10, and even higher.

To improve accuracy, you can use the Forex entry indicator with other signals. For example, you can wait until the market breaks the trend line, which may indicate a change in trend, and then look for a pattern using the indicator and enter the market with a clear stop.

The outcome of the review of the entry indicator

You can use the operation of the Forex entry indicator quite accurately and without additional technical assistants. This tool gives the trader everything he needs to make a good trade, even taking into account some errors in the analysis, since the take profit is always an order of magnitude larger than the stops, and the entry occurs in the direction of the impulse.

According to statistics, the number of false signals is always slightly less than the correct ones, and given that the profit ratio is higher for successful signals, the trader will definitely always be profitable at a distance.

Each currency pair has its own version of the indicator; the authors of the strategy thought out the indicator separately for the required pairs in advance.

Introduction from the author

I am very happy to share this amazing package software with you. This product has been in development for several years and I hope you improve your trading and profit.

Please read the entire strategy before you start trading so you have the complete knowledge and fundamentals you need to make profitable trades. Please trade on a demo account before trading with real money so that you have trading experience and confidence in the strategy.

We are sure that if you apply the strategy in your trading, your profits will increase beyond your wildest dreams and you will enjoy the system with high level profit and profitability.

We have made great efforts to present the material in this guide as simply as possible. If you have any questions regarding the material, feel free to contact us.

For your success
Forex Sabotage Team.

Characteristics and conditions

Trading platform: MetaTrader4 (MT4).
Currency pairs: EUR\USD, EUR\JPY, GBP\JPY, USD\JPY, GBP\USD, EUR\GBP.
Trading Hours: During the London and US sessions.
TimeFrame: M15, M30, H1, H4, D1.
Recommended Broker: Can be used with any broker.

Introduction to Analysis Technique

The main idea behind Forex Sabotage is to look at the big picture. The algorithm behind this uses cross pair analysis to determine the phases price is in, the start of new cycles, and the end of the current cycle. These are the ones we will trade.

Forex Signal Sabotage indicator uses dynamic D.S.P. An algorithm to find the relative strength of each currency as well as determine the "shift of power" that results in trading signals.

Each indicator line is tied to a specific currency pair, the list of pairs:

Blue color line: Euro
Red Line: Japanese Yen
Line Green colour: USD
Gold color line: Pound

The second indicator of ForexSabotage is the Momentum Senes momentum indicator. It analyzes the momentum in the market and tells you when it is safe to enter a trade and when it is in a range you should avoid trading.

The 3rd and last indicator of ForexSabotage is the market information indicator. This indicator gives us all kinds of understanding of the current situation in the market: increase / decrease in volume, volume for buying / selling and a lot of valuable information about trading. 99% of this information you cannot see and is under the hood, this information can improve your trading.

The trading system is installed according to the standard instructions, which you can read in the following.

Interpretation and trading signals

In this chapter, you will learn how to trade with the ForexSabotage system.

You will learn how to use this system to achieve incredible day to day trading profits.

Purchase entry:

When Forex indicator Sense Sabotage Momentum changed color from blue to green.
If you are trading major pairs: confirmation from the Forex Sabotage Signal indicator is required. For example, if you are trading EUR\USD, make sure the EUR line is above the USD line.

Sale entry:

When the Forex indicator Sense Sabotage Momentum changed color from blue to red.
If you are trading major pairs: confirmation from the Forex Sabotage Signal indicator is required. For example, if you are trading EUR\USD, make sure the EUR line is below the USD line.

If you are trading on non-major pairs, ignore the last condition.

Trade entry examples

Exit a position

Stop Loss is calculated in the following way:

For long positions (buy), stop loss is set 1 pip below the lowest low of the last 4 bars.
For short trades (sell), stop loss is set 1 pip above the highest high of the last 4 bars.

The Stop Loss level for each trade is also shown on the Forex Sabotage Market Insight indicator. If you enter into buys, you need to look at the "Stop Loss for Long Trades" indicator. If you enter sales, look at the "Stop Loss for Short Trades" indicator

Trade Exit

Exiting a trade when Market Insight tells you volume is shrinking.
Another exit signal is when the Forex Sabotage Momentum Sense indicator turns blue. If the color changes and the bar is closed, exit the trade.

Money Management (determination of lot size)

The trade size for each trade is determined by the market indicator Info. It is calculated in such a way that you have a constant, 2% risk on every trade.

The archive contains several templates for the three main pairs, which were traded by the author himself, for all other pairs you can choose the settings yourself. Also in the archive there is a manual for English language from the developer.

I do not want to say that the vast majority of professional market participants use indicators to analyze the market. Most often, among the pros of the stock and currency markets, you will meet two types of traders: those who use trading advisors and those who use the analysis of trading levels and price patterns with volumes in their work. I do not urge you to make a choice between two styles of trading and I understand that for most beginners it will be easier and more accessible to analyze indicators of classical analysis.

Therefore, it is the use of classical indicators in determining entry and exit points that we will deal with in this tutorial. First, I would like to draw your attention to the fact that using only an entry and exit indicator would be unwise without determining the trend and other components of the market phase. In simple terms and discarding some of the nuances of the behavior of the exchange rate, we can say that there are only two phases in the market: a trend and a flat.

The constant change in the phase of the market prevents us from using the same trading strategy in different markets. Since, the one that works well on the trend will show disgusting results on the flat, and vice versa. This problem cannot be solved in one trading system, therefore, when developing the most profitable Expert Advisor in the world, we introduced a dynamic trading system into its algorithm that adapts to changes in the market phase. Only this made it possible to achieve such high results and get rid of the need for constant strategy optimization.

Therefore, before looking for an indicator to determine the best entry and exit points for a trade, think about how your strategy adapts to trend changes to flat and vice versa. Only such a concept in the development of a trading system will allow you to be sure that you have correctly identified the trend in the direction in which you will look for an entry point.

What are the ways to protect the entry point indicator from changing market phases?

Of course, there are no ideal methods, so I think that here the whole choice will depend on your individual preferences, which will allow you to confidently apply one or another strategy for determining the trend (market phase). In my opinion, the best tools for determining the market phase and its trend are trading levels, which are built according to the principle I have described. The ability to build consolidation, support and resistance levels will allow you to use exactly the trading strategy that is most suitable for the current market situation. And it has all the necessary properties for you to successfully earn money by changing the exchange rate of a currency instrument.

Therefore, my conclusion is disappointing: you must take into account the market phase and adjust the trading system to it (or use several for a specific market), otherwise you will never succeed in trading financial instruments. I say this for a reason, and I came to this conclusion quite recently, when we started developing win-win strategies for forex.

As you know, I don't draw conclusions until I automate trading strategy and will not test it on a multi-year section of history. And I can say that it is the systems focused on changing the strategy for flat and trend that allow you to get stability on the exchange, everything else is a time bomb, because one day the phase will change and you will inevitably start to lose money. I am sure that each of you has already faced this problem for a long time and just now, I have announced to you the only possible solution.

Many developers of automatic Forex robots try to solve the problem by stopping trading after a series of losses, but this method has big cons. To voice which in this review seems superfluous to me. I will only highlight the main ones:

Closing a trade after a significant loss. It is psychologically difficult to wait several weeks with such a big loss on the trading account, I am sure that only beginners use this method, and for them such trading is more like torture.

Impossibility to immediately win back the loss, and the market may recover after a negative series. Which again will unsettle you as soon as you see what you could earn here.

Probabilistic determination of non-trading time, since you do not analyze when the unfavorable phase will end and the next one, positive for your strategy, will begin.

What I have described above is only the tip of the iceberg, but it is useless to delve into the discussion of a system that is not well adapted to effective trading. So let's not waste time on it. Now let's move on to the description of indicators that will allow you to find the necessary entry and exit point from the market.

Why is determining the exit point as important as determining the entry point to the trade?

Perhaps some of the novice traders think that "I would like to find an entry point", but in practice, the inability to exit a trading position in time is much more important than the correct entry. Without knowing exactly where to take profits or limit losses, you will not be able to receive stable income, this will only lead to more psychological problems in trading. I am a categorical opponent of manual trading, as the human factor has too much influence on making competent decisions.

However, if you are trading hands and still do not know the exit point of the transaction, then it is better to immediately sell your computer and spend more time away from on-line. This will bring more benefit both psychologically and physical health not to mention your wallet. Therefore, when analyzing indicators of market entry points, I will pay special attention to the rules for exiting a position. And her support in the process of working with an open deal.

Forex trade entry and exit indicators. How to determine the exact trading signals to open a position?

We will consider with you two of my favorite classic indicators for determining the entry and exit points, but of course there are a huge number of them, listing which we will turn this review into a whole textbook on determining entry points. Therefore, I suggest that you start to value your time and study the most reliable entry and exit indicators.

Entry and exit point indicator - Stochastic Oscillator

If you do not know what this indicator is, then I recommend studying this review and be sure to use this analyzer in the first stages of your work on the market. It is a separate window on the chart of the financial instrument you have chosen and allows you to determine the points of maximum purchases or sales. It is calculated based on the square of the price for several price bars before the current moment, the square is determined by the analyzer period, and further price changes are diagnosed in accordance with the deviation of the current quotes from those in the "price square". The stochastic looks like this:

You may notice that when approaching the lower level (maximum sales), the price often bounces and goes up, and when approaching the upper one, the currency pair starts to decrease. This indicator works great on any financial instrument, many practitioners recommend using it on several time intervals for a more accurate trend analysis. If entry points for the stochastic indicator are less and less clear at first glance at the analyzer, then the exit point is determined when the main line of the indicator crosses with the additional one. Usually, this always indicates a trend reversal.

Entry and exit point indicator - CCI

I want to draw your attention to how accurately this indicator predicted the results of the Brexit vote and how well its signals are processed when approaching levels 200 and -200. I assigned these levels myself, there are no these levels in the standard settings of the CCI indicator. It is believed that it is necessary to make purchases when the level of 100 is broken and sells when the level is broken - 100. I recommend sticking to the CCI bounce rule from your levels: that is, when breaking the level of 100 or -100, we expect a return to the level and a confirming rebound from it towards our position. This is a more reliable signal from the CCI indicator or the definition of an entry point.

To determine exit points from a position, most in a simple way will wait for the indicator line to break through the level of 200 or -200 and take profits. At the same levels, experienced traders open trades against the current trend. Since the finding of the indicator beyond the levels of 200 and -200 indicates an imminent trend reversal. In addition, it allows you to get the most profitable trades, because the distance from -200 to 200 is much greater than from 100 to 200. I strongly recommend this analysis tool, both for a beginner and for someone who considers himself a pro.

Indicators for the MT4 terminal are becoming more technical, have more correct predictions, but many traders and investors also want to see the best entry and exit points in the market. Most indicators only show the direction of the trend without showing exit points.

Often Forex indicators show much better profitability in the options market. Indeed, in binary options, in order to get up to 90% of the transaction, it does not matter at all what distance in points the price will run from the moment the transaction was concluded. In order for the trading position to close in plus, and the trader to receive up to 90% of the income, 1 point in the direction of the transaction is enough!

You can try your hand at option trading under fairly loyal trading conditions. For example, in a company, you can start trading with $10 in your account, concluding transactions of $1 or more.

Let's consider the indicator of 2017, showing for opening and closing orders, Ku Klux. This indicator is reminiscent of the famous pivots, it looks for rotating price levels on any currency pair, and each of its levels can be used as a level to enter or exit a trade.

Pivot indicator Ku Klux

The Ku Klux indicator is recommended to be used on the EURUSD, AUDUSD, GBPUSD, EURJPY, USDCHF currency pairs, on time intervals from M5 to H4. Trading can be carried out in all trading sessions, except for the Pacific, since during this period too low volatility makes it difficult to analyze the market. Recommended brokers for work - and.

It's better not to touch the input parameters if you don't know what you're doing. You can change the Text_Font_Size parameter to larger or smaller if you want to increase or decrease the font in terms of the indicator.

To work with this indicator, you need to use only pending orders. Buy with them from buy levels and sell from sell levels. Stop loss for purchases should be set at the BSL level, for sales - SSL. Placing stop orders is mandatory, this will reduce the likelihood of large losses and even reduce these risks to zero.

As soon as the profit begins to grow, the transaction must be transferred to breakeven, after the transaction reaches the nearest price level, then move it to one more level, etc. The deal is closed only by stop loss or breakeven, and also, when approaching the next important level for the trader.

This indicator is similar to the Murray indicator, but it is not a trading strategy. As with any indicator, it needs additions and filters, in the form of moving averages, MACD oscillators, RSI, etc. Active trading with Ku Klux, together with filters, can bring good income if money management is followed correctly. You should not exceed the risks of 2-5% per trade and open several trades on different currency pairs. If you want to trade on several pairs, it is better to break the total risk of 2-5% into several parts.

Sincerely, Alexander Ivanov

Editor's Choice

As you know, many Forex traders use auxiliary tools to analyze the market situation. For some, such instruments can be the economic indicators of a particular country, for others, information on trading volumes corresponding to futures currencies, etc.

All of the above is of little practical use if the trader does not know where to enter and exit a position. This is where throwing begins, in search of the optimal pattern or indicator for entering or exiting a position.

A trader is often lost in a huge variety of algorithms, trying to find the best option for himself. As a result, the trader begins to clutter the chart with a large number of analytical tools, thinking that this increases the reliability of the signal.

How to solve a similar problem? One way out of this situation may be to use one indicator for both entering and exiting a position in the Forex market.

Forex entry and exit indicator 123PatternsV6

This algorithm is presented in the form of lines and arrows. The formation of signals is based on the pattern 123 . The parameters by which this pattern is calculated, and then lines and arrows are formed on its basis, are set in the settings of 123PatternsV6. You can download this algorithm for MT4 right here:

Installation in the MT4 trading terminal is standard:

Copy 123PatternsV6 to "MQL4/indicators" folder;
Restart terminal;
Find the "Indicators" folder in the terminal;
Drag the file to the chart of the instrument you are interested in.

Algorithm settings

ZigZagDepth, RetraceDepthMin, RetraceDepthMax- parameters by which pattern 123 is calculated. The higher the numerical values, the less often the signals will be generated, and vice versa, the smaller the values we enter, the more often 123PatternsV6 will give signals (the number of false ones will increase);
ShowAllLines, ShowAllBreaks - parameters responsible for displaying lines;
ShowTargets - parameter responsible for displaying "take profit" lines;
Target1Multiply - responsible for the size of the first Take Profit;
Target2Multiply - determines the size of the second Take Profit;
HideTransitions - parameter responsible for displaying the channel.

An example of an indicator with channel display enabled:

After we figured out the settings, let's see how you can use this indicator in trading.

Ways to use the indicator of entries and exits in Forex

Options for using the 123PatternsV6 entry and exit indicator in Forex:

Immediately after the arrow in the direction of its formation;
On the rollback after the appearance of the arrow;
On the breakdown of the extremum formed after the appearance of the arrow;
In the direction of the previously formed arrows on the rebound from the indicator levels.

In the first case, a position is opened immediately after the arrow appears on the next candle. In this case, Stop Loss is set beyond the last extremum before the arrow appears, and Take Profit is set at one of the indicator levels intended for exit.

It is not difficult to see that if we hold the deal until the first target, then the TP / SL ratio will not be very profitable. It makes sense to hold the position to the second target level.

In the second case, unlike the first entry option, a position is opened on a price rollback. At the same time, the depth of the rollback can be assumed from the levels of the indicator. In the figure below, you can see how, after the appearance of the arrow, the rollback stopped at the previous level of the indicator.

Stop Loss, as in the first situation, is set beyond the extremum before the algorithm signal appears. Compared to the first option, this entry is more profitable, since the TP / SL ratio is more significant here.

The third way to enter the market is more reliable, but the distance to the target levels is smaller, and the Stop Loss is larger than in the previous two options.

Stop Loss is set either beyond the extremum formed before the appearance of the arrow, or beyond the last local extremum before the breakdown.

The fourth option for opening a position can be safely attributed to scalpers, since the conclusion of a deal occurs on each rebound in the direction of the previously formed arrow. At the same time, Stop Losses, unlike the previous three options, are much smaller, due to which a very favorable TP/SL ratio is obtained.

In addition to the classic exit on 123PatternsV6, which is supposed to be on the target lines TP1, TP2, you can close the position by the arrow pointing in the opposite direction (signal).

The figure below shows the considered Forex entries and exits using the 123PatternsV6 indicator.

The numbering of the inputs in the illustration corresponds to the options discussed above.

It should be noted that 123PatternsV6 works equally well both on higher time intervals (M30-D) and on small time frames (M1, M5, M15).

123PatternsV6 can be used to identify global trends, then make entries, as well as use pyramiding towards the prevailing trend of the older time interval. In the figure below, we see the formed signals on the hourly timeframe.

123PatternsV6 can also be used in combination with simple charting and technical analysis methods. As an example, let's remember the breakdown of a trend line as a signal of a change in trend. After that, using the 123PatternsV6 indicator, you can enter and exit a position on Forex.

Outcome

The options for using 123PatternsV6 that we have considered indicate that it is enough to use only one indicator for profitable trading. In this case, the trader will not be cluttered with the working chart due to the fact that the same algorithm is used both for entering and exiting a position.

Another significant advantage of 123PatternsV6 is that it can be used at different time intervals. This makes this tool more versatile than many other algorithms.

Traders tend to focus too much on fine-tuning their entry rules and stock selection. Choosing the right exit can be just as important, if not more important, than choosing the right entry. After all, it is the exit that blocks your profit (or loss) and ultimately affects equity your trading account.

Traders have different methods of closing trades and the type of exit usually depends on the type of trading strategy being used. This article is all about the methods used to get out of positions, but not about the signs that tell you when to sell. Here are 10 ways to exit a trade:

#1 - Fixed Risk Stop Loss

A fixed risk stop loss is an order where you decide in advance how much you can afford to lose and place a stop loss in the market corresponding to that amount.

This is one of the worst ways to exit a trade. Too often, traders neglect to check the effectiveness of stop loss levels and end up using any arbitrary number. Traders can place a stop 10% away from the market, but why 10%? Why not 9.8% or 10.1%?

The main problem with a fixed risk stop loss is that it does not reflect market dynamics and is not primarily related to the basis for placing a trade. The difficulty is that stocks fluctuate wildly. They often touch the stops and then turn back, ending up more or less where they were before. This type of stop is probably best for the worst-case scenario, which are really rare events.

#2 - Back entry rule

One way to exit a trade, and one that makes a lot of sense, is to simply exit when your entry rules have completely changed.

For example, if you bought a stock because it just hit a new 50-day high, you should probably sell it when it hits a new 50-day low, if not sooner.

Similarly, if you bought a stock because you figured it was cheap, you should sell it as soon as you figured it was already expensive.

#3 - Stop price action

#4 - Trailing stop

Trailing stops track the price of a stock as it moves higher or lower, thereby locking in profits and reducing risk. In the case of a long trade, a trailing stop can be attached to each new high and it will move higher as stock prices rise. It can be specified as a percentage or in.

For example, a 35% trailing stop allows the stock to keep moving higher and higher, but the moment it drops 35% from its highest level, the stop will be triggered and the position will be closed. Trailing stops are useful for trend-followers as they respect the golden rule of allowing profits to run and cut off losing trades.

#5 - Chandelier Stop

The Chandelier Stop is essentially a trailing stop that uses rather than using arbitrary percentages or pips.

In other words, instead of placing a stop loss 20% or 20 pips below the market, you place a stop depending on the ATR. Typically traders use ATR(14) and a multiplier, so if ATR(14) is 30 and the multiplier is 4, a trailing stop will be placed at 30 * 4 pips.

The Chandelier Stop was developed by Charles Le Baux and versions of it were featured in Alexander Elder's "Trading with Dr. Elder" and Andreas Klenow's "Trend Following".

The main benefit of the Chandelier stop is that it adjusts to volatility, giving volatile stocks more space for price action than less volatile stocks. This is another good outlet for trend followers.

Below is the code in Amibroker for the Chandelier stop:

ApplyStop(stoptypeTrailing,StopModePoint,4*ATR(14),True,True);

#6 - target profit

Profit targets are best used for mean reversion trading systems and short-term strategies. The problem with using profit targets is that it's too easy to limit your potential profit. Profit target doesn't work when it comes to trend following, because the whole principle of trend following is to let wins move forward and you never know how long the trend will last.

The profit target also doesn't do well in retesting. But it can be useful for day traders who are intimately connected to the market they are trading.

#7 - Fair value

Investors who have a great understanding of fundamental value can calculate what they consider to be the fair price of a stock and then exit whenever the stock price meets or breaks that level. This is not an easy task, as the value of a company will change as stock prices change (relativity). All sorts of factors, such as investor sentiment, also come into play.

One easy way is to view the value of the Peter Lynch line. Whenever a stock is below this line, it is considered undervalued, and whenever it is above, it is considered overvalued.

#8 - Time Based Exit

Using a time-based stop can be useful for traders as different patterns form in the markets depending on the time (day, week, month, year).

For example, the volume of the stock market rises during the American session, and subsides after the close. Therefore, some are designed to capture movements after the close of the market, and then close at its open.

Likewise, since some companies release earnings reports once every three months, some strategies seem to do well in three-month periods.

Quantpedia has a good choice such strategies that are successfully used at exit time.

#9 – Peak cutting or “cream skimming”

British small cap expert Simon Thompson is known for playing important role, and often advocates a technique known as vertex clipping. A top cut is where you have a good winning position in a stock, but spotted a new opportunity elsewhere.

This technique involves closing out two-thirds of the trade and adding a 10% trailing stop for the rest. This ensures that you have money left in the game if the stock continues to rise, but also provides some capital that you can put into new investments.

#10 - Never

Warren Buffett, largest investor known around the world, uses a rather unique approach to exiting their stocks. Buffett famously said, "When we own a piece of great enterprises with great managers, our favorite holding period is forever."

It just goes to show that when you pick the right stocks in the first place, your exact exit point becomes less problematic - a great entry position.

#11 The worst way to exit a trade

Through emotions - hope, greed, wishful thinking, fear, the sixth sense.

Conclusion

As you can understand, there are many ways to exit a trade. But which one you need depends only on you, or rather your personality and your trading strategy.

Closing a Forex deal on time is just as important as entering the market on time. Closing a deal earlier or later may not incur the most better consequences. So, if you close the trade early, you may miss out on income. And if later - there is a possibility of losing capital if the transaction turns out to be unprofitable.

Early release is the key to success. All these points need to be understood and be able to use.

Traders trust trading in currency pairs to automatic robots that do everything for them. But this is not entirely correct. Each robot has its own shortcomings and shortcomings. He can instantly deprive you of all profits.

Robots for automatic trading on the Forex exchange can simply keep your deposit at the same level, making both profitable and unprofitable transactions, they can lose all your investments or significantly increase them. But for this, a trader needs to test a huge number of bots with different brokers, and only then trust one.

What is a Forex trade?

A forex transaction is any transaction that has been made between a party that sells a currency and a party that buys it with an agreed amount of currency on the same value date.

To maximize Forex trading efficiency, learn the following techniques for closing a deal.

Systems approach

A trader always uses some trading strategy to enter the market, and his exit must also be determined by this strategy.

The user must have a system criterion that would suggest the need to exit their market. For example, if a trader enters the market during the intersection of moving averages, then he should exit at the opposite intersection.

trailing stop

It helps traders to protect themselves from losses, as well as to retain profits if necessary.

To correctly set a stop, you must first test it on previous timeframes. If you make a mistake and set the indicator close to the price, then you can take the profit too early, if, on the contrary, it is far away, then there is a chance to be left without income.

In any case, it is great for trading high-volatility currency pairs.

Setting a price target

To do this, you will need pivot points that are well-adapted to market volatility. Pivot levels are considered good tools for predicting pivot points.

Technical analysis indicators

They will perfectly help you choose the most profitable exit point from the market and close the deal.

You can use these indicators.

Forex indicator AMkA

It is a modified Kaufman adaptive moving average program. Notifies about points for entry and exit from the market. Works on the MetaTrader 5 terminal . When the instrument determines the directional movement of the trend, a signal appears on the indicator to deal or close it.

TLB OC v2 level indicator

Displays resistance and support levels calculated using closing prices from different timeframes. The opinion of experts boils down to the fact that this is an excellent tool for planning deals.

To close a position, you can use the following methods by setting:

Take profit - the level of profit fixation that can be predicted.
Stop loss - limiting the expected losses.

Depending on the type of trading, you can make changes after closing a position manually or offline. When scalping or intraday trading (aggressive models), it is better to close the trade manually.

If the trader has enough time to enter the necessary parameters of a trading order, then you can use automatic Stop Loss and Take Profit settings. . Their values can be changed during trading within the allowable limits, which are regulated by the brokerage company.

As for closing a Forex transaction in the red, then you need to decide individually. Each client manages his investments independently. But if the deal acquires all the features of a losing one, then, whatever one may say, it is necessary to exit the market.

Following the rules of deposit management, you need to adhere to the following indicator: the total drawdown of the deposit should not exceed 20-25%.

The point of exit from the market is of great importance. If you miss the right moment, you can be left without investments or take profits too early. Therefore, those traders who, in principle, do not think about the time of closing a transaction on Forex, are initially programmed to fail. Each step of the client must be justified by a strategy or certain system indicators.

1 What are forex indicators and what are they for?
2 What are Forex indicators?
3 Installing indicators on the MetaTrader 4 platform
4 An example of forex indicators showing entry and exit points of a trade
- 4.1 Parabolic Sar
- 4.2 TrendWave
5 Creating your own trading strategy based on indicators

Forex is an absolutely unpredictable market, where traders can only guess where the price will move in a given period of time. Analyzing the charts of currency pairs, players calculate the probability of further price movement, which may not always be in their favor.

Indicators come to the aid of beginners and professional traders, which make it easier to analyze the current situation on the market and “predict” the further development of the situation.

What are forex indicators and what are they for?

Forex indicators is a mini-program based on mathematical operations on price and volume calculated over a certain period of time (hour, day, week, month).

In other words, the indicator readings are the result of the analysis of price movements in the past, which can be used to predict future movements.

Forex indicators are the basis of most trading strategies, as they allow you to analyze the huge flow of information that affects the forex market without the participation of the trader.

The MetaTrader 4 trading terminal has a large number of built-in indicators such as Parabolic Sar, Stochastic, MACD and others.

The indicator readings are displayed either directly on the chart itself (Parabolic Sar, Fractals) or in a special window at the bottom of the chart (MACD, Stochastic).

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What are forex indicators?

As you know, the financial market can be in two phases - trend and flat (consolidation). Given the current phase of the market, traders use the appropriate indicators:

trending - show the direction of the trend, which can be up or down. Trend trading is the most profitable and easiest, but the market is trending 20% of the time;
oscillators are indicators whose main purpose is to determine entry points in a flat market. However, during the beginning of a trend, oscillators can give false signals.

In addition, forex technical indicators can be divided into two conditional groups:

lagging;
leading.

Most indicators are lagging, as they use data on the latest movements in the currency quote to generate a signal to enter a trade. The name itself - “lagging indicators” - indicates that a signal to open a deal will appear only after the price has passed a certain distance in the right direction.

Thus, using the readings of lagging indicators, traders lose part of the profit that they could have received. Examples of lagging indicators are moving averages, RSI, Stochastic.

Leading indicators, as the name implies, allow you to get a signal to enter a trade at the very beginning of an emerging trend.

Leading instruments in 2016 are:

support and resistance levels;
divergence

Opening deals from support and resistance levels, taking into account divergence, allows the trader to get maximum profit due to the fact that the deal was opened at the very beginning of the price movement in the required direction.

Profit while trading on leading indicators is fixed either at the nearest level, or upon reaching the ratio of loss and profit of 1:2, 1:3, etc.

Installing indicators on the MetaTrader 4 platform

The analysis of the Forex financial market and the search for the best point for opening a transaction is carried out in the MetaTrader 4 trading platform. This software is the main tool for a trader that allows you to receive information about the situation on the market in real time.

The MetaTrader 4 trading terminal is equipped with built-in indicators - both trend and oscillators.

In addition to standard indicators, the MetaTrader 4 platform supports the installation of third-party indicators that can be integrated into the platform for a more thorough analysis of the market situation.

To install the indicator on the MetaTrader 4 platform, you need to upload the indicator file to the MQL4/Indicators folder. This folder can be opened using the File - Open Data Folder tab.

After downloading the files, you need to restart the terminal. After that, add the installed indicator to the chart of the currency pair using the Navigator tab.

An example of forex indicators showing entry and exit points from a trade

Parabolic Sar is one of the most popular trend indicators showing the entry and exit points of a trade.

Parabolic Sar

An example of the operation of the Parabolic Sar indicator

Points above and below the price indicate the presence of an upward or downward movement. If the indicator points are below the price chart, then it is considered that the movement is upward.

If the points of the Parabolic Sar indicator are above the price chart, we can talk about a downward movement.

Most beginners who try their hand at forex trading prefer indicators such as Parabolic Sar, as they show not only the entry point to the market, but also the exit point.

However, as we have already noted, the Parabolic Sar indicator is lagging, therefore, both in the case of opening and at the time of closing the transaction, the trader loses part of the profit due to the indicator's lagging signal.

TrendWave

The indicator algorithm takes into account historical data and finds points where the price is most likely to reverse. This takes into account levels, local minima / maxima and many other characteristics.

An example of the TrendWave indicator

As is clear from the image, the indicator gives a visual and audible signal that the price has approached a significant level, while the indicator lines are in the overbought and oversold zone.

As you study financial markets, new indicators, trading systems, etc. a trader creates for himself his own set of tools to analyze the current situation on the market. Wherein great importance should be given not only to the search for entry points into the market, about which a lot has been said, but also to the search for exit points from the transaction, since the profit of the trader will depend on this.

Creating your own trading strategy based on indicators

Determining the entry and exit points of a trade is one of the most difficult tasks a trader faces. Therefore, when opening a deal, a trader needs to take into account the data of several indicators and other indicators, for example, fundamental ones that affect the movement of the quote of a currency pair.

The indicators described above are capable of showing accurate signals only in conjunction with additional algorithms that will filter out false signals to enter a trade.

To create your own trading strategy based on indicators, you need to choose the main indicator that would show the trend and supplement it with oscillators that filter out false signals.

For example, the standard Parabolic Sar indicator can be supplemented with the Stochastic oscillator, which will signal us when the price reaches the overbought and oversold zones.

The moment of exit from the transaction is the appearance of the opposite point of the indicator Parabolic Sar

Try to create your own combination of different indicators in order to get exactly the trading strategy that was comfortable for trading.

Use not only standard indicators, but also third-party ones, which become more accurate every day.

Most of the third-party indicators of the MetaTrader 4 platform are equipped with sound alerts, which makes the trading process easier. A trader does not need to constantly be in front of the monitor, waiting for a good moment to open a deal.

Whatever strategy you use in your trading, the broker you choose is of great importance.

Advice: Choose to work with a broker licensed by the Central Bank of the Russian Federation and working for a long time on the market. Read the reviews about the financial broker, study the conditions for depositing and withdrawing funds from the account.

Trading on the forex market can be combined with trading in binary options, since the charts of currency pairs and the process of their analysis are largely similar. To open options, you can use the Binex trading platform, Binarium, Titan Trade trading platform.

While trading on the forex market, you will also understand how to trade on Olymp Trade, a steadily growing broker with a wide range of options for analyzing and managing trades (cancellation of a trade, self-selection of the expiration time). Thus, it is possible to combine forex transactions and binary options.

As long as there is trading in the financial markets, the debate continues about whether it is necessary to take into account the readings of indicators in your trading or not.

Many factors speak for the use of Forex indicators 2016:

the presence of a clear visual signal to enter the transaction;
simple interpretation of indicator signals, which is important for beginners;
sound notification about the presence of a signal;
the ability to analyze a large amount of historical data to obtain a more accurate signal.

Only exact adherence to the readings of your trading strategy, based on the correct combination of trend indicators and oscillators, will bring stable profits in the long run.

Save the article in 2 clicks:

Happy trading!

How to solve a similar problem? One way out of this situation may be to use one indicator for both entering and exiting a position in the Forex market.

Forex entry and exit indicator 123PatternsV6

Installation in the MT4 trading terminal is standard:

Copy 123PatternsV6 to "MQL4/indicators" folder;
Restart terminal;
Find the "Indicators" folder in the terminal;
Drag the file to the chart of the instrument you are interested in.

Algorithm settings

ZigZagDepth, RetraceDepthMin, RetraceDepthMax- parameters by which pattern 123 is calculated. The higher the numerical values, the less often the signals will be generated, and vice versa, the smaller the values we enter, the more often 123PatternsV6 will give signals (the number of false ones will increase);
ShowAllLines, ShowAllBreaks - parameters responsible for displaying lines;
ShowTargets - parameter responsible for displaying "take profit" lines;
Target1Multiply - responsible for the size of the first Take Profit;
Target2Multiply - determines the size of the second Take Profit;
HideTransitions - parameter responsible for displaying the channel.

An example of an indicator with channel display enabled:

After we figured out the settings, let's see how you can use this indicator in trading.

Ways to use the indicator of entries and exits in Forex

Options for using the 123PatternsV6 entry and exit indicator in Forex:

Immediately after the arrow in the direction of its formation;
On the rollback after the appearance of the arrow;
On the breakdown of the extremum formed after the appearance of the arrow;
In the direction of the previously formed arrows on the rebound from the indicator levels.

It is not difficult to see that if we hold the deal until the first target, then the TP / SL ratio will not be very profitable. It makes sense to hold the position to the second target level.

The third way to enter the market is more reliable, but the distance to the target levels is smaller, and the Stop Loss is larger than in the previous two options.

Stop Loss is set either beyond the extremum formed before the appearance of the arrow, or beyond the last local extremum before the breakdown.

In addition to the classic exit on 123PatternsV6, which is supposed to be on the target lines TP1, TP2, you can close the position by the arrow pointing in the opposite direction (signal).

The figure below shows the considered Forex entries and exits using the 123PatternsV6 indicator.

The numbering of the inputs in the illustration corresponds to the options discussed above.

It should be noted that 123PatternsV6 works equally well both on higher time intervals (M30-D) and on small time frames (M1, M5, M15).

Another significant advantage of 123PatternsV6 is that it can be used at different time intervals. This makes this tool more versatile than many other algorithms.

Each currency pair has its own version of the indicator; the authors of the strategy thought out the indicator separately for the required pairs in advance.

Introduction from the author

I am very happy to share this amazing software package with you. This product has been in development for several years and I hope you improve your trading and profit.

We are sure that if you apply the strategy in your trading, your profits will increase beyond your wildest dreams and you will enjoy a system with a high level of winnings and profitability.

We have made great efforts to present the material in this guide as simply as possible. If you have any questions regarding the material, feel free to contact us.

For your success
Forex Sabotage Team.

Characteristics and conditions

Trading platform: MetaTrader4 (MT4).
Currency pairs: EUR\USD, EUR\JPY, GBP\JPY, USD\JPY, GBP\USD, EUR\GBP.
Trading Hours: During the London and US sessions.
TimeFrame: M15, M30, H1, H4, D1.
Recommended Broker: Can be used with any broker.

Introduction to Analysis Technique

Forex Signal Sabotage indicator uses dynamic D.S.P. An algorithm to find the relative strength of each currency as well as determine the "shift of power" that results in trading signals.

Each indicator line is tied to a specific currency pair, the list of pairs:

Blue color line: Euro
Red Line: Japanese Yen
Green Line: US Dollar
Gold color line: Pound

The trading system is installed according to the standard instructions, which you can read in the following.

Interpretation and trading signals

In this chapter, you will learn how to trade with the ForexSabotage system.

You will learn how to use this system to achieve incredible day to day trading profits.

Purchase entry:

When Forex indicator Sense Sabotage Momentum changed color from blue to green.
If you are trading major pairs: confirmation from the Forex Sabotage Signal indicator is required. For example, if you are trading EUR\USD, make sure the EUR line is above the USD line.

Sale entry:

When the Forex indicator Sense Sabotage Momentum changed color from blue to red.
If you are trading major pairs: confirmation from the Forex Sabotage Signal indicator is required. For example, if you are trading EUR\USD, make sure the EUR line is below the USD line.

If you are trading on non-major pairs, ignore the last condition.

Trade entry examples

Exit a position

Stop Loss is calculated in the following way:

For long positions (buy), stop loss is set 1 pip below the lowest low of the last 4 bars.
For short trades (sell), stop loss is set 1 pip above the highest high of the last 4 bars.

Trade Exit

Money Management (determination of lot size)

The trade size for each trade is determined by the market indicator Info. It is calculated in such a way that you have a constant, 2% risk on every trade.

You need to start developing rules for entering and exiting positions after you have determined your maximum risk in each trade.

Entry rules should clearly describe what must happen in the market for you to open a position. This sequence of events may include any specific price movements, chart patterns, statistics, indicators, or other variables that you think will put you on the right side of the market. Also, entry rules should include sections that answer the following questions: will you trade in only one direction or both (long and / or short), what general factors must be present (or absent) in the market to enter a position, and will there be periods of time when you will not take emerging signals? Will you open the position immediately after the signal appears, or with a delay - for example, only at the end of the day, at the open of the next day, or after the close of the current candle? What timeframes on the chart will you follow?

Ask yourself all these questions, find the answers to them and describe them in detail in your trading plan. The ideas of signals for entering a position can be very diverse, for example: a trend reversal on an engulfing candle, a strategy for breaking through the daily range, following the trend within the day, etc.

If you combine intraday trading with swing trading, then your trading plan should describe the conditions for entering a position for each of these styles of trading separately, as well as how you can combine open positions at the same time, designed for different lifetimes. Entry signals should be obvious, for example, a rollback to a zone that you can visually determine, the price approaching a trend line or indicator line, etc. If you are trading with the trend or using price patterns, then your signals will be based on real price movements, not derivative indicators. In this case, indicators may be present on your charts as auxiliary instruments, but will not serve as signals for making a trade.

In any case, try to keep the signals as simple as possible so that in the stressful atmosphere of the trading day you can act clearly according to the plan and not lose sight of anything. If the entry rules are quite complex, then you will "slow down" during trading and make mistakes.

Exit rules should detail what needs to happen in the market to get you out of a position you are already in. Such rules can be based on price movements, graphical models, indicators, or the appearance of a signal to open a deal in the opposite direction. Essentially, this section defines where your stop will be and how (physically/mentally, fixed/tracking, etc.) you will place it. In any case, the stop loss is essential element trading process and should be clearly stated. It is designed to close your losing position when the price reaches a certain level. In the same section of the trading plan, you must specify whether you will use your target profit to close your profitable trades in order to exit positions after the price reaches a certain level.

Also decide whether you will use a trailing stop and how you will move it. What will make you exit a position when the price has not yet reached your stop loss or profit target (this is called active position management)? How and why might this happen? Will you close the position at the end of the current bar/day/week or only at the moment of the signal to close? Based on what time frame will you decide to close the position?

Ask yourself all these questions, and formulate the answers in the form of exit rules.

As a guide, the following simple rules can be given: Always use stops. For most strategies, the stop loss is placed just below the last reversal low for long trades and just above the last reversal high for short trades.

Select a price target level that can be determined based on the normal price movement of the instrument. After that, you need to make sure that the price target is several times the amount of risk in the transaction. It is desirable that this ratio is not less than 2:1 or 3:1. Pay attention to the sequence of actions: choose a goal, and then see how it correlates with the size of the risk. You cannot set a price target simply at a random level, for example, based on the fact that it is a multiple of the amount of risk.

Actively manage your positions. Set stop loss and price target immediately upon opening a position. But this does not prevent you from closing the position, even if the price has not reached any of these levels. Likewise, you can give your position the opportunity to continue to develop even after reaching a price target. All this should also be planned and described in advance. Your closing rules for day trading and swing trading may differ.

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What are the ways to protect the entry point indicator from changing market phases?

As you know, I don't draw conclusions until I automate a trading strategy and test it on a multi-year stretch of history. And I can say that it is the systems focused on changing the strategy for flat and trend that allow you to get stability on the exchange, everything else is a time bomb, because one day the phase will change and you will inevitably start to lose money. I am sure that each of you has already faced this problem for a long time and just now, I have announced to you the only possible solution.

Many developers of automatic forex robots try to solve the problem by stopping trading after a series of losses, but this method has big disadvantages. To voice which in this review seems superfluous to me. I will only highlight the main ones:

Impossibility to immediately win back the loss, and the market may recover after a negative series. Which again will unsettle you as soon as you see what you could earn here.

Probabilistic determination of non-trading time, since you do not analyze when the unfavorable phase will end and the next one, positive for your strategy, will begin.

Why is determining the exit point as important as determining the entry point to the trade?

Perhaps some of the novice traders think that "I would like to find an entry point", but in practice, the inability to exit a trading position in time is much more important than the correct entry. Without knowing exactly where to take profits or limit losses, you will not be able to receive a stable income, this will only lead to even greater psychological problems in trading. I am a categorical opponent of manual trading, as the human factor has too much influence on making competent decisions.

However, if you are trading hands and still do not know the exit point of the transaction, then it is better to immediately sell your computer and spend more time away from on-line. This will bring more benefits to both psychological and physical health, not to mention your wallet. Therefore, when analyzing indicators of market entry points, I will pay special attention to the rules for exiting a position. And her support in the process of working with an open deal.

Forex trade entry and exit indicators. How to determine the exact trading signals to open a position?

Entry and exit point indicator - Stochastic Oscillator

Entry and exit point indicator - CCI

To determine the exit points from the position, the easiest way is to wait for the indicator line to break through the level of 200 or -200 and take profit. At the same levels, experienced traders open deals against the current trend. Since the finding of the indicator beyond the levels of 200 and -200 indicates an imminent trend reversal. In addition, it allows you to get the most profitable trades, because the distance from -200 to 200 is much greater than from 100 to 200. I strongly recommend this analysis tool, both for a beginner and for someone who considers himself a pro.

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