beginner question

Discussion in 'Forex' started by dlo, Jun 23, 2005.

  1. dlo


    what does TP mean? i've looked for it on investopedia but it's not listed under the initials.

    T/P @ 1.2119
  2. jrkob


    Target Proffit may be
  3. my understandind is TP stands for either take profit or target profit. I've used it both ways.
  4. dlo


    that was it. i was able to locate take-profit order on investopedia.
  5. You will find unique words in Forex
    • Graphs = Charts
    • Gearing = Leverage
    • Targets = TP's = Take Profit

    The Forex market is a rather Gobal market I would say, and the origins of terms can slightly differ to the "American" terms....

    Michael B.
  6. yeah, typically the way your TP is built into your trade is, say you open a long EUR/USD at 1.2033.

    you could structure your trade so that if such and such number or range is hit or entered into then you kick your TP in.

    it can be set manually or by a limit order.

    or it can be if such and such news story goes one way or another regarding something, then you can even modify or adjust your TP.

    I've had TPs set for 30 points, 50 points, 60 points, only to end up closing them for more or less depending on circumstances that arose after I opened the trade.

    your TP is one of the top most critical things in trading.