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Take Profit.. Worthy?


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161 replies to this topic

#1
Tariq777

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Hi Traders,

Lets share your opinions here. All of us talk about the importance of stop loss but take profit is given less importance.

Share your experiences about Take Profit.
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#2
pinoycity

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Well, since I seldom set SL, it will also follow that I do not set TP. Whenever I trade, I am always in front of my computer checking the happenings so I do not feel the need to set it. Being the beginner trader that I am, I know that I still have much to learn about this thing.
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#3
riddick09

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Hmm. I think i have read many times about prioritizing more of the stop loss. But less discussion about take profit. I wonder why too. It seems that it is good to know about limiting the risk and since we do know what will happen if there will be in profit.
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#4
ermaniso2011

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l think it is better to put a reasonable target to take profit and following the profit with trailing stop is the best style.take profit target will be depend on your position if you join to a brak our or you are scalping.as long as there is a trailing stop settings l think trader can decide the reasonable exit.l dont succest lessthen 10 pips.
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#5
omostar

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Yes I too prefer the trailing stop to take profit. There are times when you set a take profit and you find outthat the market eventually moved a lot of pips ahead of you take profit. using a trailing stop will help you to lock and protect your profit. At the same time, it will help you to makethe maximum profit possible from a particular trade.
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#6
pinoycity

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Would you not berate yourself if it happened that the you could have earned a lot more if you did not out a TP? Greed is really an opponent in Forex but there is also a saying that when opportunities come, we should be prepared for it.
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#7
stezz

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if i'm AFK
i always use TP or SL
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#8
pinoycity

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I am also wondering what is the best TP? It can be different for many people. Some would just like to have 20 pips everyday while others want more. I think, it will all depend on the situation. If there is an opportunity to earn more, why not?
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#9
flybiz08

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I am of the opinion that the take profit order is as important as the stop loss order. I f you were to take a trade, then you'd want to make sure that the market price target is hit and this is only achieved by using the take profit. The take profit will also not require a trader to sit in front of the computer until the target is hit.
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#10
PROPENSITY100

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Yes take profit is also a good tool and I often use it in Forex trading but I do not use it in all my trades like stop loss. Many times I leave my trades without a take profit but I never leave any trade without a stop loss unless I doing a very quick scalping.
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#11
sidejob

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Yes take profit is also a good tool and I often use it in Forex trading but I do not use it in all my trades like stop loss. Many times I leave my trades without a take profit but I never leave any trade without a stop loss unless I doing a very quick scalping.

i think that feature is good to same just like your opinion, but i prefer stop loss since i think that risk management is important and if i made a lot of mistakes i can stop myself from trading and also it will be good to make me get more loss in the next trading. but i think that is depend on the condition too
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#12
riddick09

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Stop loss is just plain feature in Forex trading platform. Well, if we are not the experience trader on monitoring our trades we should definitely put stop loss and take profit in tandem. Because, these are important way to have control and to have manage several or simultaneous trades. I always feel that it will be good for any strategy either scalping or long term trading.
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#13
acunmeswew

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Different people have different views on the take profit. For very fearful trader like me, i always use both the take profit and the stop loss. However, if i am lucky to see a trend that appears promising, then I just remove both the stoploss and take profit and replace them with a trailing stop. Some traders believe you should only limit your loss and leave your profit limitless.
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#14
sidejob

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Different people have different views on the take profit. For very fearful trader like me, i always use both the take profit and the stop loss. However, if i am lucky to see a trend that appears promising, then I just remove both the stoploss and take profit and replace them with a trailing stop. Some traders believe you should only limit your loss and leave your profit limitless.

i think you should control your emotion first, fearful trade only limited their earning, i think what you do for yours is good enough for now, and then next trying to do analyzation or learn something from expert, sometimes they can give you some good advice for your own good sake. controlling fearful emotion will make you become a better trader and will give you better result too
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#15
riddick09

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Or there will be no trades happening or even not use of these take profit or stop loss. Well, traders should have realization about the market conditions before,w e can decide if we can have reasonable use of take profits. I better say that it will always depends on our strategy like long term trading then, we will have big pips target with a low minimum lot size. So, we set T/P long enough relevant to our trading.
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#16
sidejob

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I am of the opinion that the take profit order is as important as the stop loss order. I f you were to take a trade, then you'd want to make sure that the market price target is hit and this is only achieved by using the take profit. The take profit will also not require a trader to sit in front of the computer until the target is hit.

as long as we are not in loss then taking profit is something that is available to do. as long as we already set stop loss i think that is already enough for the first step, and make sure we encourage ourself and also keep focus with trading, and make sure we take the profit
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#17
davils9

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if you would be a good trader you will be success and make a profit . so you need to learn more and increase your skills day by day then you will be able to earn some real money
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#18
Adnan

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Take Profits does come handy is several situations as the market tends to rebound and the profits sometimes is reduced in the TP is not in place if not gone away. It is a good practice to place a TP by looking at the support and resistance levels as those levels are sometimes the main region where the trend reverses usually...
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#19
davils9

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To make a profit is the main goal of business. But without risk there are no business, so if we want to make a profit we need to leave our greed and be honest. Then we can be success in life. If we want to start the forex business we need to learn more about it, so we can join a forex school and can increase our knowledge.
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#20
davils9

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Make money from forex is easy and every man can make money from forex by his honest and hard work. Work hadr is a good for be success in forex so if a man want to be success he need to learn more and more and work hard. Then he will be success and he can be make money.
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