It doesn't sound like he has a target. I'm not sure he has a well thought out plan for each trade, seems more like a seat of the pants trader.
We all have things we can improve in, myself included. Thanks all for some outstanding ideas -- much appreciated.
I tend to agree, BUT, comparing to myself... I don't use preset targets UNLESS I am scalping, in which case, it (the target) is what it is, whatever it is. So perhaps it is not so much related to a trade plan, but rather the type of trade expected at time of entry. Or the inability to differentiate the type of trade. For non-scalp (intraday swing, megauber-scalp, standard trade, whatever you want to call them), IF I have a target it is usually far away. That is to say... at the time of entry, the perfect trade based on my then analysis. Stops are simpler... There is always some form of activity that "should not occur" based on current analysis. If the "should not occur" activity occurs, analysis is wrong and move on. It is that "should not occur" mindset that "allows", and many times prevents, premature exit.
When I trade stocks, I enter when an asset is structured such that I expect it to rise. Under such circumstances, I'm looking for a profit of anywhere from 5% to 12%. (But, I don't know if this qualifies as a run in anyone's eyes.) I remain in the trade until and unless price pulls back by 1% or more over one or more days, at which point I either pocket my gains or cut my losses short. This works for me when using this particular approach, but it's something I've simply made up, so I'm not recommending it... just sharing what I do. (I would think that when to exit would depend on the percentage that a given trader has decided constitutes a likely reversal in sentiment.)
I don't pre-set a target. ( I don't day trade) I do have a plan with specific criteria of when I will exit a trade. When that criteria is met I'm out. There is no wondering what I should do. The trade is over and what happens afterward is something I have no control over. I can only control what I do not what the market does. No sellers remorse, no woulda, shoulda, coulda; It is one trade out of many and if I followed my plan it was a successful trade.