Trade Exit – This is the exiting of an individual trade or option spread, always after a holding period of more than 30 calendar days for all individual underlying instruments or option legs. Typically trade exit is decided on when the expected risk/reward was reached OR the trade went bad and needs to be exited with a close to full loss (usually close to option expiration). The exact trade exit execution is usually managed by using good til cancelled limit orders after more than 30 calendar days has elapsed since trade entry.