{"id":45290,"date":"2017-05-09T11:09:04","date_gmt":"2017-05-09T15:09:04","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=45290"},"modified":"2023-04-03T12:45:43","modified_gmt":"2023-04-03T16:45:43","slug":"the-trading-exit-is-not-what-you-want-but-rather-what-it-should-be","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/the-trading-exit-is-not-what-you-want-but-rather-what-it-should-be","title":{"rendered":"The trading exit is not what you want but rather what it should be"},"content":{"rendered":"<p><iframe loading=\"lazy\" src=\"https:\/\/www.youtube.com\/embed\/wncXh8muI2c?rel=0&amp;controls=0&amp;showinfo=0\" width=\"600\" height=\"338\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<p>A trader read yesterday&#8217;s post Expectations poison good trading and remarked:<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft wp-image-45291\" src=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2017\/05\/martin-bedick.jpg\" alt=\"\" width=\"600\" height=\"227\" \/><\/p>\n<p>I would like to focus on this savvy reader&#8217;s observation: &#8220;I&#8217;ve sometimes used the standard of what I WANT the market to do. (how ridiculous is that!)&#8221;<\/p>\n<p>Well&#8230;. from my seat it is not too ridiculous at all. \u00a0I have been guilty of this. \u00a0I have seen profitable traders guilty of this. \u00a0I have seen many experienced traders particularly guilty of this. \u00a0It is a common trading mistake.<\/p>\n<p>So the good news is you are in good company making this trading error.<\/p>\n<p><em>But the proper exit is not what you want, but rather what the exit should be.<\/em><\/p>\n<p>For me, I make this mistake by wanting a stock to trade to my target and not being open-minded to other exits. \u00a0This is common among experienced traders. \u00a0We can often get wrapped up in not &#8220;overtrading&#8221; the trade. \u00a0We often get wrapped up in &#8220;holding for the real move&#8221;. \u00a0But this is really just trader code for being closed-minded to other exits that are more realistic. \u00a0This is just trader not doing the work to plan for a more nuanced and better risk\/reward exit.<\/p>\n<p>Dr. Steenbarger has written recently about traders needing to set <a href=\"http:\/\/traderfeed.blogspot.com\/2017\/04\/a-simple-mistake-traders-make.html\">realistic targets<\/a>. \u00a0Many traders fail to do this. \u00a0But this is an example of what that trader is doing above. \u00a0You want the stock or market or product to trade to your target and only your target. \u00a0You are unwilling to do the work to plan for other exits. \u00a0You do not have the skill yet to plan for more realistic targets. \u00a0Or you are just plain out of tune with your stock\/market\/product.<\/p>\n<p>Good active trading is setting the standard of observing how the market\/stock\/product is behaving and then finding a way to participate that offers a good risk\/reward. \u00a0And then, and here is our expanded thought from this post, we must listen to the market\/stock\/product to find the realistic and best exit.<\/p>\n<p>It is not how we want to exit. \u00a0It is how the market\/stock\/product is behaving that decides our exit.<\/p>\n<p>As always, I appreciate your feedback- mbellafiore@smbcap.com.<\/p>\n<p>*no relevant positions<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A trader read yesterday&#8217;s post Expectations poison good trading and remarked: I would like to focus on this savvy reader&#8217;s observation: &#8220;I&#8217;ve sometimes used the standard of what I WANT the market to do. (how ridiculous is that!)&#8221; Well&#8230;. from my seat it is not too ridiculous at all. \u00a0I have been guilty of this. \u00a0I have seen profitable traders &#8230; <a href=\"https:\/\/www.smbtraining.com\/blog\/the-trading-exit-is-not-what-you-want-but-rather-what-it-should-be\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":144,"featured_media":45067,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[5303,3748,3751,30,653,1354,5409,1349],"class_list":["post-45290","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general-comments-2","tag-active-trading","tag-automated-trading","tag-price-targets","tag-prop-trading","tag-trader-training","tag-trading-coach","tag-trading-exits","tag-trading-mentor"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.1.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The trading exit is not what you want but rather what it should be | SMB Training<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.smbtraining.com\/blog\/the-trading-exit-is-not-what-you-want-but-rather-what-it-should-be\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The trading exit is not what you want but rather what it should be | SMB Training\" \/>\n<meta property=\"og:description\" content=\"A trader read yesterday&#8217;s post Expectations poison good trading and remarked: I would like to focus on this savvy reader&#8217;s observation: &#8220;I&#8217;ve sometimes used the standard of what I WANT the market to do. (how ridiculous is that!)&#8221; Well&#8230;. from my seat it is not too ridiculous at all. \u00a0I have been guilty of this. \u00a0I have seen profitable traders ... Read More\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.smbtraining.com\/blog\/the-trading-exit-is-not-what-you-want-but-rather-what-it-should-be\" \/>\n<meta property=\"og:site_name\" content=\"SMB Training Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/smbcap\/\" \/>\n<meta property=\"article:published_time\" content=\"2017-05-09T15:09:04+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-04-03T16:45:43+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2017\/03\/readingtape-1.gif\" \/>\n\t<meta property=\"og:image:width\" content=\"846\" \/>\n\t<meta property=\"og:image:height\" content=\"538\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/gif\" \/>\n<meta name=\"author\" content=\"Bella\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@smbcapital\" \/>\n<meta name=\"twitter:site\" content=\"@smbcapital\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Bella\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/the-trading-exit-is-not-what-you-want-but-rather-what-it-should-be#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/the-trading-exit-is-not-what-you-want-but-rather-what-it-should-be\"},\"author\":{\"name\":\"Bella\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#\/schema\/person\/80500a901d0e5ce0a27fa996bb1b9161\"},\"headline\":\"The trading exit is not what you want but rather what it should 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