Profit targeting

Profit targeting should be based on your ability. How much my ability is allowing me that's important. If I can predict a 20 pips movement that should be my profit target.

It is important to know your limit of risk tolerance and profit. So, know those from demo practice.

Your profit target should be fluid. Check the markets, check the fundamentals check your risk to reward. All are important

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.

AliaDare posted:
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.

It is good to have goal. It gives inspection and motivation. However, don’t force your trading plan to achieve that goal.

Just because everyone else is making profits doesn’t mean you can too. You better understand your limits and set your goals accordingly.

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

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.

Just because everyone else is making profits doesn’t mean you can too. You better understand your limits and set your goals accordingly.

Every trader uses different strategies and hence, makes different profits. Don’t set unrealistic goals because you will end up disappointing yourself otherwise.

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

Yes, it is very important for a trader to know about these aspects in trading.

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

CraigMcG2020 posted:
Your profit target should be fluid. Check the markets, check the fundamentals check your risk to reward. All are important

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.

ohmaria posted:

CraigMcG2020 posted:
Your profit target should be fluid. Check the markets, check the fundamentals check your risk to reward. All are important

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.

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

pigeontrader posted:

ohmaria posted:

CraigMcG2020 posted:
Your profit target should be fluid. Check the markets, check the fundamentals check your risk to reward. All are important

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.

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

Interesting approach. I think it all depends on every trader's strategy when it comes to forex trading.

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.

RobSchiz posted:

Gririns posted:
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.

You can not trade here by fixing your profit margin.

But A trader can boost himself by setting a profit margin.

I don't target an amount per month or year. Just take what the market presents me.