profit target

Discussion in 'Forex Trading' started by forextraderpro, Feb 29, 2008.

  1. Should I complete the trade when my profit target is less than 10 points?
  2. 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.
  3. 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 :)