When is the time to close out a position?

     Many traders always complain about why they can not be profitable consistantly. I found out that many of them have great trading ideas and the only thing they are missing is the skill to close a position.

     The profitability of any trade is depending on how you take the profit or how you take the loss. Therefore, the art of closing becomes crucial. Here are some of my rules to close a position.

     Once I am in a position, I will closely watch the stock and close the position instantly if one of the following criterias are met:

1. Cycle is finished

2. Target is reached

3. Stop is triggered