Benefit of Take profit. Were you use it?

[riddick09]

Nope, it's not meant to ensures your profits but to set what you target profits will be. You did not meant that once you use Take Profit you will have guarantee of profits or using stop loss and will not have losses. It's not like that, it's like the way or part of our strategy.

 

[budado]

I just reactivated one of the account that got MC last week of February. I use 21 dollars of my profit this month to revive my old account. Now I have five active accounts right now. My main goal is to earn 100 dollars a month minimum. But this month I end up earning 171 dollars and possibility to reach 200 dollars. and that's why I invested and activated my new account. I know 21 dollars is not much but I just want to have some funds for my relaunching. If I earn more next month then I will going to add more funds until I have 100 dollars trading capital.

 

[indieover]

You have been earning well in your trading account. When I reach MC I just open another account as I only have bonus payment on my trading account. So anyway I don't usually use tp but I think we should specially if we are not sure that the trend would continue.

 

[riddick09]

If we have failed on the take profit we have set and rather made to reached the MC then, we can still have option of either to have invest or replenish our account or just create a fresh and new trading account just to not need to worry about the recovery stage. Still, take profit is good when we also apply stop loss in our trades.

 

[eddiej]

I like to not set a take benefit because if this cost instantly jolts up-wards 50 pips and your take benefit was only 30 pips you will skip out on all those additional pips

What time frame do you trade on and what currency do you trade with? I'm just wondering what conditions you trade in cause it seems like it's very volatile.

 

[budado]

I'm now trying to make aggressive trade in one of my account again. A guy who never learn from his mistake. lols. But I don't mind. For me right now if I really want to make good income in forex I really need to take aggressive stand. this is the only way I can increase my trading earnings and skills at the same time.

 

[Cutiekc]

I'm now trying to make aggressive trade in one of my account again. A guy who never learn from his mistake. lols. But I don't mind. For me right now if I really want to make good income in forex I really need to take aggressive stand. this is the only way I can increase my trading earnings and skills at the same time.

Lol,take the risk and join the rich,well,sometime our mistake turns out to be postive at times,so just be carefull and don't be over greedy because it can cause you harm to you account,do things moderately,as of me i can't trade without having my stop loss and take profits.

 

[riddick09]

It's fine to be optimistic in our trading as a way to not be in touch of the negative sides which we might face of more losses. I feel that take profit is also encourage us for the hopes for our trades. We can be also confident on our trades whenever we are not monitoring it as we have set it but then, just also have stop loss if ever we use take profit.

 

[sindarin]

Yeah i agree with it, as we become positive in our trading then the result usually become good too, but actually i still cannot live with SL lol, i will always set it since i am worry later if something happened when i am trading, just use all feature that we have here in forex for our benefit and keep positive thinking.

 

[budado]

Lol,take the risk and join the rich,well,sometime our mistake turns out to be postive at times,so just be carefull and don't be over greedy because it can cause you harm to you account,do things moderately,as of me i can't trade without having my stop loss and take profits.

Theirs always a chance that we going to get MC. In fact me I have multiple MC already. But its still worth it. Having a 50 dollars account and make 300 dollars profit and get MC after that means I still end up making 250 dollars profit. The bottom line is always push your self to the limits. But also make sure that you can walk your talk.

 

[indieover]

oh well it is good that you have made nice profit before you have made MC. and so it is not a waste that you have been able to trade well. for me it is also to have TP although it would limit your chance of getting more profit but at least you have been sure of profit already.

 

[riddick09]

The profits if we can think of it in our account will depends if we have more profits than losses so, it will not on if we able to withdraw but to check on the account in general which includes our withdrawals if this will be conclude as winning for us. Since, withdrawals is recorded as our profits.

 

[budado]

My first goal is to pay all of my debt. my second goal once I paid all of my debt I will try to make sure that I have develop my accounts to a point that I can sustain and maintain my account for good. This is what I'm hoping to accomplish right now.

 

[riddick09]

Same here. I wish I can trade well in order to pay all of my debts lol. I hope that when I become focus in here I will indeed gain profits or to become prepared. I need to still have more improvements in terms of the strategy and way of my analysis because, I'm still lacking of both experience and implementation of the strategy.

 

[jackcm]

My thought is only simple, it is that take-profit is only an exit point when I hold some position. Short-term traders should have this because you won't know when exchange rate will get reverse while it is not necessary for long-term traders to have take-profit because if your analysis is good, you don't have to worry about future.

 

[riddick09]

Yes, that's why it's better to set it up already to have the take profit and stop loss to not have here idle on when they will close or stop their trades. Because, others will be like hang their trades and will not stick with their target profits or pips and think of continuing still.

 

[winuga]

i mostly use take profit in my daily trading activity because it will safe my time not always monitoring market movement waiting for closing out some win positions
i will use my time effective way to learn and do some research about other forex knowledge and opportunity and spare my another time to posting on forum, so there is no need to stuck on chart monitoring market, better doing something that more useful

 

[naninov]

stop loss and take profit features is really helping me from stuck in front of my computer, reducing stress and tired sitting in front of computer and what like most is using them make me discipline in trading

 

[Daisy]

Yes, I think its helpful in short term trading but not necessary in long term trades since you can exit any time if you see the trends maturing. So, you might want to leave it open in long term trends since you will never know how long it will go to. Now, in short term trend, you might want to take it before it hit too low. Take profit can be useful but also it will cut short of our profit cause it might soar more than the amount we put in.

 

[riddick09]

That's why you have placed it automatically that you have your automatic setup. You will not going to not follow what you have decide to put take profit even with stop loss. It only means that you don't have discipline or don't stick with your strategy. Take profit is useful when we are away on trading.