Profit targeting
Mar 17, 2021 at 13:59
1,178 Views
19 Replies
Member Since Jul 23, 2020
869 posts
Mar 17, 2021 at 17:13
It is important to know your limit of risk tolerance and profit. So, know those from demo practice.
Member Since Jul 20, 2020
399 posts
Mar 19, 2021 at 08:21
Your profit target should be fluid. Check the markets, check the fundamentals check your risk to reward. All are important
Member Since Jul 23, 2020
759 posts
Mar 21, 2021 at 17:43
AliaDare posted:It is good to have goal. It gives inspection and motivation. However, don’t force your trading plan to achieve that goal.
I have a specific goal. That goal helps me move forward in trading. It could be Daily or Monthly with which I try to complete the analysis. I think this target will help me reach my goal.
Member Since Apr 01, 2021
6 posts
Apr 05, 2021 at 11:23
Just because everyone else is making profits doesn’t mean you can too. You better understand your limits and set your goals accordingly.
Member Since Apr 05, 2021
9 posts
Apr 05, 2021 at 11:36
I think profit targeting is a bad plan. What if you are lower ? you will force trades and make bad trades. Better to set no target and get what market offer
Member Since Mar 16, 2021
477 posts
Apr 06, 2021 at 01:04
Any successful subject needs to have a target. It is never possible to achieve without a target. I always trade with a target in Forex trading as it increases the ratio of profitability.
Member Since Apr 01, 2021
2 posts
Apr 07, 2021 at 11:30
Just because everyone else is making profits doesn’t mean you can too. You better understand your limits and set your goals accordingly.
Member Since Apr 03, 2021
12 posts
Apr 14, 2021 at 07:41
Every trader uses different strategies and hence, makes different profits. Don’t set unrealistic goals because you will end up disappointing yourself otherwise.
Member Since Apr 14, 2021
9 posts
Apr 14, 2021 at 11:39
So true. I wanted 100pip a day when I started. Now I would be lucky to have that in a week. Keeping appropriate targets is very important
Member Since Jan 07, 2021
15 posts
Apr 23, 2021 at 11:30
Yes, it is very important for a trader to know about these aspects in trading.
Member Since Sep 12, 2017
238 posts
Apr 23, 2021 at 12:55
profit targetting is imp. we cannt see when and how the other trader is earning. but we need to see what we have in our pocket and what target we can set
Sep 15, 2021 at 10:34
CraigMcG2020 posted:Agreed with this. You just need to check on your risk to reward management if you want to make a right profit in the forex market.
Your profit target should be fluid. Check the markets, check the fundamentals check your risk to reward. All are important
Member Since Sep 15, 2021
9 posts
Sep 15, 2021 at 10:35
ohmaria posted:CraigMcG2020 posted:Agreed with this. You just need to check on your risk to reward management if you want to make a right profit in the forex market.
Your profit target should be fluid. Check the markets, check the fundamentals check your risk to reward. All are important
I think differently. I set my profit target when I enter a trade and do not adjust it ever. So many times I have seen price look like it will reverse when many would close for small profit but I keep my trade and then make larger profit
Sep 15, 2021 at 10:37
pigeontrader posted:Interesting approach. I think it all depends on every trader's strategy when it comes to forex trading.ohmaria posted:CraigMcG2020 posted:Agreed with this. You just need to check on your risk to reward management if you want to make a right profit in the forex market.
Your profit target should be fluid. Check the markets, check the fundamentals check your risk to reward. All are important
I think differently. I set my profit target when I enter a trade and do not adjust it ever. So many times I have seen price look like it will reverse when many would close for small profit but I keep my trade and then make larger profit
Oct 05, 2021 at 19:22
I don't know how about you, guys, but I don't set a profit target at the same number of pips. I prefer using S&R levels to determine them and also I have to take into account risk/reward ratio. I don't really understand how people set the same take profits in 20 pips or something like that. Each deal implies different number of pips and I can't imagine how it can be fixed whatever happens.
Member Since Mar 17, 2021
536 posts
Nov 24, 2021 at 20:20
RobSchiz posted:But A trader can boost himself by setting a profit margin.Gririns posted:You can not trade here by fixing your profit margin.
I don't know how about you, guys, but I don't set a profit target at the same number of pips. I prefer using S&R levels to determine them and also I have to take into account risk/reward ratio. I don't really understand how people set the same take profits in 20 pips or something like that. Each deal implies different number of pips and I can't imagine how it can be fixed whatever happens.
Member Since Apr 09, 2019
538 posts
Nov 29, 2021 at 12:17
I don't target an amount per month or year. Just take what the market presents me.
If you can't spot the liquidity then you are the liquidity.
Dec 01, 2021 at 06:51
Setting a profit target is important to restrict yourself from over trading. It psychologically sets a limit. Everytime I reach my profit target it reminds me that I’ve reached my goal and I should now focus on protecting my profits instead of losing it by opening unnecessary positions.
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