Benefit of Take profit. Were you use it?

[Cutiekc]

Well, the take profits is an automatical function that assist us on taking the total fixed set profit limit by us and have our trade closed to avoid the market being against us. I think it is a feature which we all should be making use of when we are trading. But some greedy traders says that it puts to limit what they can earn so they tend watching their trade manually.

 

[budado]

Taking profit is really going to make us earn in forex trading without monitoring our open position. We just need to put TP and hope we will get TP instead of SL or worse get MC. That's why I do recommend that we do analysis first before we trade.

 

[tray]

Take profit have a very big advantages when its come to forex trading that is why we must ensure that we take good advantages of take profit to placed our trade on the right side

 

[Daisy]

Well, if you watch a trade then you can just exit and take profit manually at that time since tp can limit your profits prematurely. However, it might also protects you in condition where it bounces around too much and you should be taking out of the trade via tp rather than sl. It has some benefit for traders like in long term trading, and if you were at work during peak hours, you want to tp cause you're not at home cause by the time you get home the price have dropped so you have to wait another day and you were at work again at peak profit hours so it helps a lot. But you might not need to use it in scalping since you can exit the trade yourself.

 

[gkintl]

Take profit is a must use facility. It enables a trader to negate risk considerably. However, take profit facility should be coupled with trailing stop loss to benefit in the maximum way. Not all use take profit facility. There are professionals who avoid take profit facility. However, as a beginner it is very much important to book profits without delay. As a beginner gains experience, he would be able to place take profit order very accurately. Till then there may be situations where take profit price may not be hit and price would reverse before hand.

 

[sindarin]

Take profit have a very big advantages when its come to forex trading that is why we must ensure that we take good advantages of take profit to placed our trade on the right side

All people said like this in many forum , they said it is important but it seems they don't even set it, and you all must be careful when set your TP, make sure to choose the right amount of your Take Profit, because with few mistakes you can loss your money.

 

[haneefzain]

The main benefit of take profit option is you don't have to wait for when will your trade go in profit..so you can close the trade..means take profit saves trader from bounding of 24 hour sitting at the front of computer or laptop or mobile..

 

[Daisy]

The main benefit of take profit option is you don't have to wait for when will your trade go in profit..so you can close the trade..means take profit saves trader from bounding of 24 hour sitting at the front of computer or laptop or mobile..

Well, we can try to use but there are drawbacks to that too. I mean you can guess a certain price but it doesn't mean that the trend will hit it if you set it too high so you might lose when it turn downward rather than to the point that you set so you basically have to set it lower to make sure that you do get it to that point. So there are some disadvantages to profit too. However, if you do long term trade, there should be no reason why you need it since you can exit at any time you feel like it.

 

[Pettyeve]

The benefit of the take profit is that it is going to make the trader to set a point where he or she wants the market profit to lock. This thing is good because it helps the trader to be able to make profit and take it at a point so that get or she won't start losing again as the market passes that point. The problem that the traders are having some times is how to set their take profit.

 

[kasual]

Well, set TP give traders benefit because they can lock the profit automatically. When traders have specific target in trading, better if they are set TP to make the profit secured automatically. Traders not necessary to suffering reduce in profit because they are late to close position manually.

 

[rexway]

when dealing in forex trading I guess that take profit have a lot of functionality that is why I said if a trader want to use take profit he must be sure that he try his own possible best and use it with stoploss as this alone is where to get what is good

 

[rexway]

when dealing in forex trading I guess that take profit have a lot of functionality that is why I said if a trader want to use take profit he must be sure that he try his own possible best and use it with stoploss as this alone is where to get what is good

 

[tray]

Yes that is very really true take profit have a huge impact on trader when its come to forex trading you have no other option than for you to try your best and be sure that you set take profit and stoploss incase unreasonable trend reversal occure

 

[Tauf]

I think the expertise in forex trading is seen from how traders out of the market, both in the profit he will secure profit already obtained by covering it with logical reason within easy reach or if loss, traders will be able to minimize the damages so that the capital remains safe

 

[lioneld]

If you are a part time Forex trader then using TP and SL is the best policy to you! You can get maximum profit according to your analysis by using SL and TP in your trading! Yes, I use SL and TP in my trading permanently.

 

[Tom Latham]

Basically, I use SL and TP in my trading so consistently! I never open any trade position without selecting the position of SL and TP! In addition, I set my SL and TP position according to the support, resistance area! Thus I get TP in maximum times in my trading.

 

[sininfinity]

Well I don't use take profit on all my trades. But I always use a stop loss on all my trades. But I use take profit on some trades. It depends on the market situation and my view about the upcoming movement of the market.

 

[Tauf]

The trader could have put the take profit in any transactions, it is part of the results of the analysis, and in the course of prices is going on there is only the price moves do not fit analysis, and that's where we secure profits although only a little bit, so don't pursue level take profit but depending on market conditions

 

[lioneld]

In my initial stage of trading I used a fixed TP and SL but now I use flexible TP and SL in my trading! I see, flexible TP and SL are much better than fixed stop loss and take profit position. For my swing trades position I use maximum TP in my trading.

 

[alextrader79]

In my initial stage of trading I used a fixed TP and SL but now I use flexible TP and SL in my trading! I see, flexible TP and SL are much better than fixed stop loss and take profit position. For my swing trades position I use maximum TP in my trading.

Do you mean trailing stop or what?