TheRumpledOne wrote:EXIT PLAY BOOK. I attached mine. You have to make YOUR OWN. DO NOT ATTEMPT TO USE MINE!! It is for EDUCATIONAL PURPOSES ONLY!!
You need to list the conditions when you will exit. No need to spin wheels at all.
I understand that making an exit playbook is a about building a step-by-step to execute and not think in the heat of the moment, but I'm unsure on how to build it. I guess my question is, could I base those conditions on? Are there any stats that I can gather for the exit playbook aside from range or is it based on something else?
For example, say I want to scalp the H1 candles so I look for at the H1 ranges for the session, and I know that more often than not price will move X amount of pips, so when the range gets hit, I can look to exit the trade (best case scenario). But for the steps between entry and TP / SL, I'm not sure what I should/could be looking at. I tried looking at the tick chart to get a "feel" of what price is doing as well, but it ends up making me jump out very early (whether in profit or loss).
I don't know if I'm asking the right questions, or if I'm approaching the exit playbook with the wrong perspective.