Discussion in 'Forex Trading' started by forextraderpro, Feb 29, 2008.
Should I complete the trade when my profit target is less than 10 points?
What is 10 points?
10 pips?, 10%?, 10 ticks (in futures)?
If its 10 pips don't even bother:
You'll pay 4-6 pips in commissions, besides your broker will manipulate quotes to make you loss the other 4-6 pips.
That would depend on either the stop (risk:reward) of the trade and/or the win:lose ratio of your strategy.
There are some very profitable scalpers who target less than 10 pips but they also have a comparable stop, and/or their win:lose is good.
If you're already in a trade and the market proves your analysis is no longer 'correct', and therefore there's no reason to stay in the trade, then even a 1 pip profit is better than a loss.
Mainstream marketmakers rarely manipulate price or run stops just to get your money, it's a well-worn conspiracy theory