I like this. It is definitely the exits that make the money - or lose it.
I always look for two exits from every new position - one is a stop and the other is the take profit. The stop is always entered at a price based on past TA: its a price at which the probability of further price movement in my personal direction is lower than the probability or price moving in the opposite direction. I never trade without a stop nor widen the stop. If the stop is far away from my entry, I reduce the position size so that the capital at risk is kept to a constant and acceptable % of my account.
I usually don't set a TP order as its not possible to be definitive about a new price at which the probability of further positive movement reduces below 50%, its not just a matter of price level, the intervening new TA is also relevant. So I usually use a fast MA on the charts and get out if price closes on the wrong side: a close on the wrong side usually indicates further negative price movement, but a negative candle would serve equally well.
None if it is rocket science. That said, I can't understand seeing traders every day placing a stop or closing a trade where price is more likely to move in their direction than against it. I guess this is fear at work, disguised as risk management.