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Update and rename Simple-and-Effective-Exit-Strategies.md to 2020-09-25-Simple-and-Effective-Exit-Strategies.md

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Exit-Strategy/Simple-and-Effective-Exit-Strategies.md → Exit-Strategy/2020-09-25-Simple-and-Effective-Exit-Strategies.md
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**[Source](https://www.investopedia.com/articles/active-trading/020915/mustknow-simple-effective-exit-trading-strategies.asp)**
# Simple and Effective Exit Trading Strategies
| Author | Source |
| :-------------: |:-------------:|
| [Alan Farley](https://www.investopedia.com/contributors/53687/) | [Investopedia](https://www.investopedia.com/articles/active-trading/020915/mustknow-simple-effective-exit-trading-strategies.asp) |
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Traders spend hours fine-tuning entry strategies but then blow out their accounts taking bad exits. In fact, most of us lack [effective exit planning](https://www.investopedia.com/investing/understanding-exit-strategies/), often getting shaken out at the worst possible price. We can remedy this oversight with classic strategies that can enhance profitability. Before we jump into the strategies, we'll start with a look at why the holding period is so important. Then we'll move into the misunderstood concept of [market timing](https://www.investopedia.com/terms/m/markettiming.asp), then move on to stop and scaling methods that protect profits and reduce losses.
### KEY TAKEAWAYS