• The Forex, Binary Options Forum - welcomes you to our Community!

    DigitalCashPalace Forum is dedicated to discussions about Forex, Binary Options, commodities, stocks related.

    Please take a look around, and feel free to .

profit taking

Partial profit talking is good if you are a long term trader and have a big profit target. Then you can take a partial profit of your trade. But if you are a short term trader and profit target is maximum 40 to 50 pips or so, taking partial profit is not a good idea. You should rather develop your skills for more accurate trading. It's just my opinion. Every trader should have his own trading style.
 
Making a profit is the main motto of every trader in the forex market. but everyone can not make a profit from this market because of their lower knowledge and making the wrong decision.
 
Partial profit talking is good if you are a long term trader and have a big profit target. Then you can take a partial profit of your trade. But if you are a short term trader and profit target is maximum 40 to 50 pips or so, taking partial profit is not a good idea. You should rather develop your skills for more accurate trading. It's just my opinion. Every trader should have his own trading style.
Choose trading strategy according to your trading style. Long term trader can adopt swing or reverse trading, short term trader can use scalping.
 
We joined in this trading place because of earning money hugely. But after passing sometimes we can realize how much difficult this one , so before entering in here beginner trader should know the reality . it can support them for avoiding loss.
 
Making profit is not so easy in the forex market. You need proper knowledge and skills to make money form this market.
If we are looking to get income from our trading then we must be using the right kind of trading strategy. If our trading strategy is correct then we would be able to get the profits.
 
We always advised by the senior traders and experts just for learning. but I think we the newcomers have to practice trading besides learning process. Demo account is more appropriate for them and as a learning Process newcomers can depend on Pips School.
 
You can take partial profit if your strategy allows you. It is not a good to change your trading plans everyone now and then. It makes us psychologically restless.
 
Top