Tracking your exits is an important way to figure out if there's a way to improve them and increase your profits. You can find out if you should move your stop to breakeven, use a take profit and more.
Setting up your exits in RazorJournal is easy.
First, click on the Account icon in the upper right corner, then click on Exits.
You will be taken to your list of Exits. Since this is your first exit, the list will be empty.
Click on the Add Exit button to create an exit.
This is what the screen will look like.
Here are some thoughts to consider when filling out these fields:
- Exit Name: A very short name is easier to read on reports. Here are some exits that you may want to use:
- Hit stop loss
- Protecting profits
- Not moving as expected
- Heading into weekend
- Hit breakeven stop loss
- Hit take profit
- Taken out by spread
- Exit Description: Provide a short description of the exit.
When you are done, click on the Save button and you will return to your list of exits.