Take Profit is Worthy? (3)
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  • #1 Collapse

    Take Profit is Worthy? (3)
    i think we need to setting take profit and stop loss when open transaction during volatile market to prevent reduction of our profit and suffer margin call
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  • #2 Collapse

    Thank you for your commends I think when a trader fixed his or her profit then he must set take profit and take losses so it is very important for new traders.

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    • #3 Collapse

      Most of the time take profit is good as you may not know the movement of the pair in the forex market. Whatever will be the profit you have to take it and wait for good position.
      Scalpion King Journal

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      • #4 Collapse

        yes take profit is really worthy as this will always have a control tag on your profit greed and will always help you win and not loose in a swinging market

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        • #5 Collapse

          If we wana go for the worthy profit then we have to go for the trading with best improved skills and experience is important.
           

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          • #6 Collapse

            yes it is very important because it will protect you from great loss.
            sometimes because of electricity and computer problems so thus it will protcet you from lossing money.

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            • #7 Collapse

              Originally posted by mustaqim686k View Post
              yes it is very important because it will protect you from great loss.
              sometimes because of electricity and computer problems so thus it will protcet you from lossing money.
              Ya dude you are right. But we are here to do this and in ma view we will be best if we go with the experience so no one stop us.
                 

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              • #8 Collapse

                Originally posted by indrayan View Post
                im agree with you, but why did you put more SL?
                what is the benefit from it?
                This is common to every forex traders. We only hope to make winning trades and the word loss is very taboo. We hate to even think about it. That is why some traders, when it comes to Risk/Reward ratio, especially the beginners, would put the SL very far, sometimes way too far, from the opening price as opposed the TP. By doing so, they think that chances for the SL to be hit will be very unlikely.

                Let us not forget forex market is very dynamic. It can and will move in any manner and in any direction it wants. It doesn't care if our SL is 50 pips or 100 pips or even 500 pips (I've come across some robots having this kind of SL for a TP of 10 pips!! LOL). If the condition warrants its reversal, the market will reverse and hit your SL. Like it or not, that's the 'brutal' truth!

                So, let's get real and be prudent with our trade. Let's have a reasonable SL/TP (a ratio of 1:1 or 1:2 would be fine). If the market reverses and hit the SL, let it be. We can always re-enter the market if the long-term trend persists or just take the opposite trade. The golden rule in forex trading is "Trade what you see and not what you hope"...

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                • #9 Collapse

                  I know it difficult to be able to create a fundamental analysis, and even I also commonly wrong analysis. I might rather do technical analysis, and which was enough in order to create a profit

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                  • #10 Collapse

                    Originally posted by mustaqim686k View Post
                    yes it is very important because it will protect you from great loss.
                    sometimes because of electricity and computer problems so thus it will protcet you from lossing money.
                    Yes protecting gained profit is most important other than the reason you have mentioned. Taking profit by booking the open position as well we can go with trailing stop-loss to protect our pips from the reversal of the market movement. I do go with lesser volume to protect my profits..

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                    • #11 Collapse

                      some times profit is more worthy because if you can not get any profit with in a month they you really fell more disappointing situation have no confidence in your hand thats way its better option to trader slowly.

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                      • #12 Collapse

                        Originally posted by nikhil_rrane View Post
                        Most of the time take profit is good as you may not know the movement of the pair in the forex market. Whatever will be the profit you have to take it and wait for good position.
                        as long as we still pursue forex, for that is we have to learn. due to make profit from volatile markt that is also under going changes of economic issue.
                         

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                        • #13 Collapse

                          Originally posted by rhushikesh View Post
                          If we wana go for the worthy profit then we have to go for the trading with best improved skills and experience is important.
                          agree but why take profit is worthy ? why are you saying? i am using tp and sl.tp is closing my profits auto and sl is saving my balance from loss.
                           

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                          • #14 Collapse

                            Originally posted by akash View Post
                            some times profit is more worthy because if you can not get any profit with in a month they you really fell more disappointing situation have no confidence in your hand thats way its better option to trader slowly.
                            ya you are right we have to take profit and so that we can increase our confidence level. We have to go with patience.
                               

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                            • #15 Collapse

                              we are here to make money and maximum take profit is our goal, so take profit is too important and but should be set realistically. and one think withdraw your money on regular basis dont wait for higher amount.

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