There is no doubt that take profit is one of the best way to prevent selfish that most of the traders have been experienced. So, that I always use take profit to control my emotion and greed and it really helps me to make successful trades.
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There is no doubt that take profit is one of the best way to prevent selfish that most of the traders have been experienced. So, that I always use take profit to control my emotion and greed and it really helps me to make successful trades.
Quote:
Originally Posted by forexpips
Greetings my
thank you for your notice of your new still say that forex world have much to learn, from your post notices about the possible return of a tool is very useful for me to trade capital.
Take profit tool is one of the best tool available in mt4 and it helps the traders to maximize the profits, it is the tool that works as an assistant of trader and it close the profitable traders of traders in their absence, i love to use it all the times.
In short, every forex trader should be totally sure that his method of trading has built-in safe guards (stops, limit orders) to prevent a major financial loss from his trading account in case any of the unfavorable events I mentioned above ever takes place. And being realistic, many of those events will surely happen in the future.Quote:
Originally Posted by twinkling star
Learning To Profit From Forex Day TradingInvestors are always looking for ways to make money; for some this means buying and selling futures contracts,
to be honetly..............actually take profit is ..................very useful tool in forex trading. I use the support and resistense to give the target trade forex that I do. whether it is for profit with the take profit or loss with stop loss...........if you expect to get the maximum profit and dont use take profit then there is good chance that u end up in a losing position......and in the process u get greedy
It is important to use take profit tool because it can prevent greediness and each trader should know his own capabilities so it's important to put TP for maximum profit which he is sure to take in certain transaction. It's okay to move Target Profit but it will be safer if there is trailing stop loss to prevent loss. I suggest to move TP when you're ready to accept lower profit only.
Take profit limit is very very useful in my view because whenever i analyse the market and make an entry i always use tp to take the profit otherwise you can take dodge by trend reversal. My method is to analyse the market at your best and put tp and sl and forgot that trade. You should manage your account margin very carefully.
it is a good tool for sure.
but my advice is to use after some time...first you should learn trading...
take profit will prevent greedy,greed comes up when the trader can not control their emotion anymore , they become overconfident, set the TP too high and make a careless thing and we know for the results, their TP will not be touched by the trend and they just suffer for some loses