by Jason Lureman
Updated: February 17, 2017
So you've thought hard, developed a trading plan, entered a trade -- and the results are good!
Before you pat yourself on the back for a job well done, though, you need to make sure you execute your planned exit strategy.
Exiting the position too early means you leave money on the table, and holding on too long sees your hard-fought gains vanish tick by tick (or pip by pip, for forex traders). You might have stops in place to protect you if the market turns against you. But how do you know the right time to exit when price action goes your way?
Watch Jim Martens, editor of our Currency Pro Service, show you how he uses Fibonacci measurements between waves to find an exit point. This clip is from one of Jim's live online trading course for forex traders, but the you can apply this trading lesson to any market.