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Take profit is a very important risk management strategy it is used to lock our profits.Sometimes market changes its direction after hitting my tp level.Without tp settings we may even miss the profit which was ours before the change of market trend.
using take profit and stop lost tool is good for the beginers like me..its so helpfull,its kept my account secure..because these tools avoid my account getting a big losses and made some kind good diciplines when we got a profit..so thats tool made my trading goes well,and make me more comfortable!
even for professionals is also important in the use of stop loss, because I've been in the professional traders suggest that I always apply a stop loss on the trade we do, because he has always applied so that the risk of loss is not great.Quote:
Originally Posted by bhagawanta
I always use take profit- because forex market is so much volatile and it maintain huge price rotation also, so if you not set take profit you can earn in short time. So reasonable profit taking is for me to stay consistently,
yes my dear friend you are right say, i think the take profit tools give us very good way to close the open trade if we are not in-front of the market if then time market move our favor then need to close the trade so the take profit tools do that automatically. but also need to stop lose select.
I love Take profit.It is really important for all of us.I normally use take profit if I haven't a free time to watch the market.What is your idea?If I can watch the market I never use Take Profit as well as Stop loss.I think it is really good method.
bhai main bhi take profit bahut jayda pasand karta hoon, lekin main ye kahunga, agar hum monitoring karte hai, to take profit nahi use karna chahiye, kal mere saath aisa hi hua tha, main Oil par trade laga diya tha, lekin take profit bhi laga rakha tha, market 2 second mein 109 pip down hua, aur mere take profit 1 second mein hit kiya, agar take profit nahi hota, to mujhe 70 pip tak sure milta.:DQuote:
Originally Posted by tharaka17
take profit very useful tool for traders who where he uses slow internet connection, of course, we do not want to lose the moment to close in accordance with the profit that we want, especially for the players scalper much needed precision in open and close to get the maximum profit
hi,Quote:
Originally Posted by forexpips
yes i agree with you. by using trailing stop to take profit while we are away is such a good idea.
it helps us to close small profit and earn small rather thank taking negative pips during market pullback.
this is the strategy for newbies to execute from the trading when there is an opportunity.
i think the TP is so much important tools in the Forex trading when we bang to command more than one business or in tenor irresoluteness we can transaction with quietness of cognition that we testament not avoid our reference erstwhile we set that and so on after effectuate of this agency we can minus the trading terminus with many spirit.