Table of Contents:

  1. Start HERE!
  2. Chart Indicators
  3. Degrees Defined
  4. Elliot Waves
  5. Entry/Exit Strategies
  6. Fibonacci is the “Key”
  7. Money Management
  8. Retracements & Projections
  9. Step-by-Step Trading
  10. Trading Chaos
Page last updated: August 18, 2017 @ 17:19

Entry/Exit Strategies

The EASIEST way to use my Entry/Exit Strategies is to learn Elliot Waves here.

The HARDEST and the more advanced way is to continue…


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The term “PSL” refers to the Protective Stop Loss for each signal. All of the above signals can and should be used no matter what trading system you are using. As I mentioned about Elliott Wave patterns, always determine in advance what signal the market would have to give to convince you that your current trading plan is wrong. That is normally the location you should be using for your PSL. As the market starts to go in your intended trading plan direction, the PSL should be moved in the market direction in order to protect your initial capital exposure and then further to lock-in any profit. How far to move the PSL is also one of those mysterious formulas.

The two rules I use are the PSL should be…

  • kept relatively far from the current market position until the trend is confirmed.
  • brought relatively close to the current market position when your other indicators signal a trend has a high probability of ending.


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Always use this method to exit a trade by letting the market take you out of a trade because you never know if, at the last minute before your PSL is hit, the market might come up short from hitting your PSL and you could gain even more profit. No sense leaving money on the table. 😉

-=Daedalus=-

AKA Wolfgang M. Bentz III

“You got to know when to hold ’em, know when to fold ’em
Know when to walk away and know when to run
You never count your money when you’re sittin’ at the table
They’ll be time enough for countin’ when the dealing’s done

Every gambler knows that the secret to survivin’
Is knowin’ what to throw away and knowing what to keep
Cause every hand’s a winner and every hand’s a loser
And the best that you can hope for is to die in your sleep”

– Kenny Rogers – “The Gambler” (1978)