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Another good way to exit out of a winning trade is to keep moving your Stop Loss after each bar closes. I like to use the M15 time frame as it seems to work quite nicely, however, smaller time frames is too choppy for this style of exit in my honest opinion.
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So once you have moved your Stop Loss to the break even point. You can start to trail the trade by putting the Stop Loss 2 pips under the third bar. Or, back from the current bar in a buy trade, or, on top of the bar by 2 pips if in a sell trade. Very simple way indeed… Let’s now take a look at an example:
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