I have received lot of queries on exit strategy. Just a few points that will help start the process of finding a suitable exit strategy as per your own comfort. Please note I have worked a lot on this aspect of trading/investing but still not perfected it as yet.

Exit Based on Fundamentals

Valuations are expensive and future prospects are priced in fully
Investment thesis does not play out as expected or significant deterioration in underline business
Better risk reward opportunity is available
Corporate Governance Issues, Fraud
Bases on Technical Strategies

Initial Stop Loss – it could be fixed or trailing. This is a tricky choice between fixed or trailing stop losses. Past data of MAX ADVERSE EXCURSION will be very useful in deciding this. There is a fantastic thread on MDE by @InvesysCapital
Trail Stop loss

1. % based - As the price moves in favorable direction after certain % move stop loss follows the price.
2. Indicator Based – Popular indicators like PSAR or Super Trend used to trail stop loss
3. Volatility based - ATR, DEVstop, Bollinger Bands can be used
Profit Booking

1. Fixed Target – This is the simplest of the strategies. This can be based on simple resistance support or based on previous data of trades or on % basis.
2. Selling into strength – This can be based on previous data of trades. MAXIMUM FAVORABLE EXCURSION data of past trades will be very useful in deciding where to sell. This also could be based on a % gain in few price bars etc.
3. Time Based – This also can be added to the conditions just to make sure that capital is not stuck in unproductive trades for longer periods of time.

Booking profits slowly or at one go also can be decided based on the strategy and on past trade data.
Useful for both traders as well as investors

1. 200 Day moving average – If a stock starts trading below 200 DMA best is to exit the stock. One could use certain % below 200 DMA or weekly/daily close below it as an exit signal. There is a wonderful thread on it by @anishteli
2. Large single day fall in price – If a stock falls more than 10% without any fall in broader market. And there is no significant recovery in price after a day or 2. Its best to assume there is some issue with the company and exit.
Please note

There is no perfect exit strategy. Every strategy has some drawbacks. Some exit early some too late. But having an exit strategy is very important. It’s also important to have an exit strategy is which more objective than subjective.
DD & return change as per exits

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प्राचीन काल में गाधि नामक एक राजा थे।उनकी सत्यवती नाम की एक पुत्री थी।राजा गाधि ने अपनी पुत्री का विवाह महर्षि भृगु के पुत्र से करवा दिया।महर्षि भृगु इस विवाह से बहुत प्रसन्न हुए और उन्होने अपनी पुत्रवधु को आशीर्वाद देकर उसे कोई भी वर मांगने को कहा।


सत्यवती ने महर्षि भृगु से अपने तथा अपनी माता के लिए पुत्र का वरदान मांगा।ये जानकर महर्षि भृगु ने यज्ञ किया और तत्पश्चात सत्यवती और उसकी माता को अलग-अलग प्रकार के दो चरू (यज्ञ के लिए पकाया हुआ अन्न) दिए और कहा कि ऋतु स्नान के बाद तुम्हारी माता पुत्र की इच्छा लेकर पीपल का आलिंगन...

...करें और तुम भी पुत्र की इच्छा लेकर गूलर वृक्ष का आलिंगन करना। आलिंगन करने के बाद चरू का सेवन करना, इससे तुम दोनो को पुत्र प्राप्ति होगी।परंतु मां बेटी के चरू आपस में बदल जाते हैं और ये महर्षि भृगु अपनी दिव्य दृष्टि से देख लेते हैं।

भृगु ऋषि सत्यवती से कहते हैं,"पुत्री तुम्हारा और तुम्हारी माता ने एक दुसरे के चरू खा लिए हैं।इस कारण तुम्हारा पुत्र ब्राह्मण होते हुए भी क्षत्रिय सा आचरण करेगा और तुम्हारी माता का पुत्र क्षत्रिय होकर भी ब्राह्मण सा आचरण करेगा।"
इस पर सत्यवती ने भृगु ऋषि से बड़ी विनती की।


सत्यवती ने कहा,"मुझे आशीर्वाद दें कि मेरा पुत्र ब्राह्मण सा ही आचरण करे।"तब महर्षि ने उसे ये आशीर्वाद दे दिया कि उसका पुत्र ब्राह्मण सा ही आचरण करेगा किन्तु उसका पौत्र क्षत्रियों सा व्यवहार करेगा। सत्यवती का एक पुत्र हुआ जिसका नाम जम्दाग्नि था जो सप्त ऋषियों में से एक हैं।
I just finished Eric Adler's The Battle of the Classics, and wanted to say something about Joel Christiansen's review linked below. I am not sure what motivates the review (I speculate a bit below), but it gives a very misleading impression of the book. 1/x


The meat of the criticism is that the history Adler gives is insufficiently critical. Adler describes a few figures who had a great influence on how the modern US university was formed. It's certainly critical: it focuses on the social Darwinism of these figures. 2/x

Other insinuations and suggestions in the review seem wildly off the mark, distorted, or inappropriate-- for example, that the book is clickbaity (it is scholarly) or conservative (hardly) or connected to the events at the Capitol (give me a break). 3/x

The core question: in what sense is classics inherently racist? Classics is old. On Adler's account, it begins in ancient Rome and is revived in the Renaissance. Slavery (Christiansen's primary concern) is also very old. Let's say classics is an education for slaveowners. 4/x

It's worth remembering that literacy itself is elite throughout most of this history. Literacy is, then, also the education of slaveowners. We can honor oral and musical traditions without denying that literacy is, generally, good. 5/x