Hello Guest, if you are reading this it means you have not registered yet. Please take a second, Click here to register, and in a few simple steps you will be able to enjoy all the many features of our fine community. Note that lewd or meaningless nicknames are prohibited (no numbers or letters at random) and please introduce yourself in the section for you to meet our community.
pcm brokers pcm brokers pcm brokers
Page 1 of 2 12 LastLast
Results 1 to 10 of 11
  1. #1
    Trader
    Join Date
    Apr 2020
    Location
    Bangladesh
    Posts
    71
    Post Thanks / Like
    Credits
    161
    My Language
    English

    How to set take profit perfectly in forex trading?

    A take profit order is a standing order put in place by traders to maximize their profits. It specifies a certain price above the purchase price, which is chosen by the trader. If the price of a security reaches that limit, it will automatically trigger a sale. If the price does not reach that limit, the order is not acted on.

    A take-profit order is a short-term trading strategy. It is useful for day traders who want to take advantage of a quick rise in the cost of securities to make an immediate profit.

    Why are Trade Exits so Difficult?

    There are two main reasons why trade exit strategies are so difficult.

    The first reason is because many people think of them as the same as trade entries, just in reverse. The logic here is that a good long entry is the same as a good exit from a short trade. This is not really true, because we are usually looking for different things in our trade entries than we are in our exit.

    You can have a brilliant trade idea, but if you choose a TP level poorly, you won't get as much profit as you could have.

    Every trader should know how to place Take Profits. There are several strategies on how to do it.

    1. SUPPORT AND RESISTANCE

    If you look at the chart, you will notice that usually, a price struggles to break support or resistance. More often after the struggling the price reverses and moves in the opposite directions. So, levels of resistance and support will help you to set really good TPs. That is why this strategy is the most popular among traders.

    2. Understanding the peaks and troughs of Fibonacci trends.

    Fibonacci extensions can give you an idea behind a stock's profit potential based on how far its trends extend.

    3. Placing them based on the moving average.

    During trending market periods, some traders will also place a take-profit order in and around the price of the moving average, particularly when a stock has dipped well below its medium-term moving average.

    4. RISK/REWARD RATIO

    When you set a Take Profit, you should take into consideration a Risk/Reward ratio. This measure shows how much profit a trader anticipates in exchange for a risk of a limited loss. In general, the best ratio is 1:3, so the profit should be 3 times bigger than the loss. For example, if your Stop Loss equals 50 pips, the Take Profit should be 150 pips.

    In some cases, other Risk/Reward ratios are possible. For example, if you trade on a break of a level, you may use 1:5 ratio as the possibility of a false break is high and you might want to protect yourself more.

    5. Moving average crossovers also serve as take profit signals for some traders.

    This tends to be a favorite of the longer-term trader, as it is a trend-following system. This approach allows for large areas for the Forex market to move around in, allowing you to stay in the trade for much longer periods of time. Depending on the timeframe that you are using, this can be months or even years believe it or not.

    The easiest way to learn about these market orders and execute them with confidence is to follow experienced traders that know what they are doing.

    You can learn more about forex trading at forum.forex

    Thank you

  2. #2
    Senior Trader
    Join Date
    Dec 2021
    Posts
    128
    Post Thanks / Like
    Credits
    98
    My Language
    English
    The stop should always be behind support or resistance, but the problem is that these levels are determined in different ways. This is the main problem.

  3. #3
    Junior Trader
    Join Date
    Dec 2021
    Posts
    13
    Post Thanks / Like
    Credits
    43
    My Language
    English
    Yes, unfortunately, big players see levels or make levels in their own way. Therefore, if a stop was hit and nevertheless the price went in our direction, then it was the right entry and we need to re-enter.

  4. #4
    Senior Trader
    Join Date
    Dec 2021
    Posts
    128
    Post Thanks / Like
    Credits
    98
    My Language
    English
    Most of our deals don't reach the big players. Therefore, many blame the big players, but they themselves are to blame. If you entered the market incorrectly or placed the wrong stop, then the big player is not always to blame.

  5. #5
    Junior Trader
    Join Date
    Mar 2022
    Posts
    1
    Post Thanks / Like
    Credits
    28
    My Language
    English
    The lower you set the price on a currency pair, the better chances you have to secure profit quick. At the same time, the profit will be minimal. This short-term strategy is based on a technical analysis of statistical trends. The strategy is employed in stock trading and cryptocurrency trading as well, according to https://octocrypto.io. Players willing to put higher stakes and more time into the game usually employ fundamental or event-based strategies.
    Last edited by Vexell; 04-08-2022 at 03:35 AM.

  6. #6
    Senior Trader
    Join Date
    Dec 2021
    Posts
    128
    Post Thanks / Like
    Credits
    98
    My Language
    English
    I did not understand anything, but very interesting

  7. #7
    Senior Trader
    Join Date
    Dec 2020
    Location
    Asia
    Posts
    484
    Post Thanks / Like
    Credits
    693
    My Language
    English
    Quote Originally Posted by Foget View Post
    I did not understand anything, but very interesting
    We will have to make use of the Take profit systems so that the income can be started.
    FXOpen - one of the most successful and fastest-growing Forex brokers.
    UK & AU regulated. ECN, STP, Crypto, Micro, PAMM accounts.

  8. #8
    Senior Trader
    Join Date
    Dec 2020
    Location
    Asia
    Posts
    484
    Post Thanks / Like
    Credits
    693
    My Language
    English
    Quote Originally Posted by Foget View Post
    I did not understand anything, but very interesting
    To be able to get the profits from our trading we will have to use a Special trading based plan.
    FXOpen - one of the most successful and fastest-growing Forex brokers.
    UK & AU regulated. ECN, STP, Crypto, Micro, PAMM accounts.

  9. #9
    Junior Trader
    Join Date
    Jun 2022
    Posts
    1
    Post Thanks / Like
    Credits
    0
    My Language
    English
    Trade exits aren't that difficult, actually. I mean, let's be objective. They are tough for the newbies who don't yet understand the entire workflow. For an experienced trader, it's nothing tough, and it's something that you do out of habit. If you consider that something about Forex is too difficult for you, I would advise you to turn your attention to crypto, and especially to this project https://bhero.com/launchpad. Trust me, and it has insane potential. Besides all that, trading crypto is much more interesting than Forex.
    Last edited by JulietaRizas; 06-07-2022 at 11:38 PM.

  10. #10
    Senior Trader
    Join Date
    Dec 2021
    Posts
    128
    Post Thanks / Like
    Credits
    98
    My Language
    English
    If there is nothing difficult in trading, then why, according to statistics, only 5% of traders trade profitably?
    I would recommend beginners to learn theory and practice very well. And there is no need to be under any illusions. Trade on a cent account and do not switch to a standard account until you start making a profit. I have been learning to trade on the ForexChief cent account for almost a year

  11. ARIONFORXtarder
 

 
Page 1 of 2 12 LastLast

Tags for this Thread

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
Powered by vBulletin® Version 4.2.5
Copyright © 2022 vBulletin Solutions Inc. All rights reserved.
Credits System provided by vBCredits II Deluxe v2.1.1 (Pro) - vBulletin Mods & Addons Copyright © 2022 DragonByte Technologies Ltd.
Feedback Buttons provided by Advanced Post Thanks / Like v3.3.0 Patch Level 2 (Lite) - vBulletin Mods & Addons Copyright © 2022 DragonByte Technologies Ltd. Runs best on HiVelocity Hosting.
All times are GMT +4. The time now is 12:46 PM.
CompleteVB skins shared by PreSofts.Com