 Get out What's up money geeks? Mr. V here. Welcome to another video guys. So in this video I want us to talk about your trade exit strategy So when you get into a trade you want to be able to get out of that trade You want a strategy on a plan that allows you to exit that trade as you feel like So that's what we're now to cover into this video But before we get started guys if you are new to the channel We took about how to earn money how to save money how to invest and build wealth So that's something that interests you go ahead and hit that subscribe button and the notification bell So you don't miss out on new content. So guys for those of you that are getting into trading You have to have a trading plan. So when you're going into any particular stock You want to buy you want to make profit? You want to get out? Sometimes you buy the profit doesn't come means you're gonna lose some money by the same time You need to be smart enough to know when to get out of that trade So that's why I want to share this one with you because this is a strategy that will help you get out Especially if you're just starting out again, you have our tools on the platform that I use like I use webo They have different tools that as a beginner or just starting out You can leverage these tools that will allow you to take the emotion out of the equation Because what normally gets a lot of people is that emotional aspect when it's the stock is going up Your emotional body thing is gonna keep going up when you start going down your emotional body because you wanted to come back So you can break even even though it's going down. You keep hanging on to it So it's like a like a bad relationship and you don't want to let go you keep thinking there's an opportunity I can fix this I want you to be able to get all of those emotions out and leverage the tools that these platforms do give you So so for the first one I want to give you guys you're starting out webo has what you call Bracket orders. So I know other platforms have the same thing. You just need to figure them out I use webo. So I understand we will better. So we'll talk about bracket orders is one that going into the trade You can determine what you want to do so I can show you guys a good example here So let's say I was looking at this stock and I wanted to trade it. I can just create an order right now Let's say I have an order for a hundred. This is a 50 shares And then I want the price to be I don't want to trade the stock right now Just say $10 and then I see here we say stop loss and take profit So I want to have my stop loss and take profit so I can say my stop loss here would be Somewhere around $9 or let's say 950. That means I only lose 50 cents per share And then my take profit could be I'd say 14 or $15 just based on how this thing is gapping And at that point you can place the order. So notice that when I place this order right here You can see where everything is that on the screen here So it's telling me that I want to buy 50 shares at $10 as well as if it goes down to 10 950 sell everything it goes to $15. I'll take profit. So that's what this is telling me Right here. So we can take a quick a look here. And so again, this is this is the beauty about this is that this is all What you call graphic a user interface so you can move this thing up and down So see you can drag this up and down and change it likewise I can move my stop loss up and down and so I can secure my profit to secure profit So you can definitely go in into a trade and and take profit and get out and secure Profit as well if or stop loss as well if the trade doesn't go your way So that's something that you should be aware of again, like I said, if you're studying out This is one of the best things that will save you because right now I can take the emotions out of it I can say buy this at $11 and then if it drops down to let's say 10 10 50 get me out. I only want to lose 50 says 50 cents per share So get me out at 10 50 and you can set it right there And it would do the work for you at that point There's no emotions involved the only the only time they have to worry about is if this thing goes up Let's say you got in here and it went up you take some profit You know, you can secure that profit you can pull your your stop loss and follow the trade as As the trade is going up. So that's something that you can definitely benefit from so Yeah, we both gives you these tools the other tool that you can use this will be after you are in the trade already It's what we call trailing stop and I'll do a separate video on that one. But just to kind of Help you get started as a beginner. This is a good place to start use bracket orders take the emotions out In this case, you don't have to wait until it gets to 50 less differences If I was trading the stock right now and I see that this kind of resistance at 13.1 And let's say I got in at $10 or $11 and I see resistance at 13.1 at that point I can look at my indicators right here. I see volume is dropping I see right here. We look at my stochastic as crossing or it's attempting to cross So I I'm starting to think like, okay, maybe I should take my profit here and get out So you can pull this down as well to the point where you want to say if let's say I want it at 13 Then I can bring this down to 13 and it would kick me out and secure that profit So that's something that you definitely want to use the beauty about this again guys Is that it takes all the emotions out of the trade? So right now if I'm sitting here and I if I'm in this trade like I said, it goes up I'm just going to move my stop loss and follow it and secure profit. But again Disadvantage of this bracket order is that if we hit you on the downside Um, you're not going to make a ton of money because it's hitting you on the downside So that's why you can move your your target price down a little bit. So it hits you on the upside So let's say if I'm in this trade right now And then this thing starts to pull back a little bit. I'll move my stop My take profit down a little bit. So it hits me on the upside I don't want it to hit me on the downside Let's say my stop loss is at 12 dollars and my take profit is at let's say 14 and then I see some sort of resistance around 13.1 what I'm going to do is I'm going to move my take profit down to 13.1 and secure the profit right there On the upside and not let it pull down to 12 dollars and hit my stop loss that way even though I'm not losing money in the trade But I didn't make the max money that I was supposed to make so that just some of the little nuances that you have to learn And understand and incorporate into your strategy as you continue to build your skills in Day trading. So I hope this one was useful. Again, I didn't place the order here Just because I'm not ready to I'm done trading for the day But that's something that you want to start with bracket Or this we both does makes that a lot easier for you to do Like I said, I'm going to do a separate video on trailing stops And then the order aspect that once you become used to this and understand Again using the the gap and go strategy or the momentum trading strategy Then you're going to have to graduate to start using hotkeys Because when the stock is gapping you don't have time to be clicking and creating an order You can just have hotkeys that would allow you to buy and sell Right on the fly. So definitely Again, this is going to be the baby steps that you would follow. So start with As a beginner start with using bracket orders And then if you as you start to mature You can start incorporating hotkeys into your trading and that's going to mean that you have to be really really Fast with your trade. You have to be responsive With your trade. So that's what we're going to cover in this video again Let me know in the comment section what you think about this Is this something that it's going to help you? Videos like this good Do they guide you a little bit with your trading as you as you get into the space of day trading? Let me know again in the comment section If you're new to the channel guys would you cover how to earn money how to save money how to invest and build Worth it's about something that interests you go ahead and hit that subscribe button and the notification bell So you don't miss out on new content Also, if you are if you are getting started with investing guys Definitely Check out webo That's the platform that I use for trading and so that way you can actually get to free stocks when you deposit A hundred dollars with a new account and as always guys do your due diligence. Don't be a greedy savage Stay motivated You