what is your TP (take profit) strategy

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hi 

internet is full of best entry strategies , but no one talks about setting TP points , what is best way to set take profit point ? latest swing points ? R/R ? pivots ? how you identify the retest so u dont break even fast ? do you use higher time frames for exit points ?

but the problem is : i always exit very quick , focusing so much on entry points and quick exits don't let me focus on exit points , can you help me ?

please lets not talk about entry point strategies and money managment , they are fine , 500+ pips with a 90% daily win rate in 1m TF @ XAUUSD 

just looking for a proper TP targeting , and also when to break even (for example you break even in 50% of target reached or what ? )

is there any indicator that can help me in this one?

i looked ATR ADX but could not find it useful in 1m TF since they calculate previous data and can be false with a long reversal candle with high volume , or maybe i am wrong

any recommandations ?

thanks

 

It depends very much on the strategy you are following. If you trade a trend you may exit when the trend changes (no TP), for channel trading it could be the channel, a scalper could have fix exit of a couple of points ...

So set up several ways to exit a position and the the optimizer tell you what might(!) work.

 
masoodkhodayi:

hi 

internet is full of best entry strategies , but no one talks about setting TP points , what is best way to set take profit point ? latest swing points ? R/R ? pivots ? how you identify the retest so u dont break even fast ? do you use higher time frames for exit points ?

but the problem is : i always exit very quick , focusing so much on entry points and quick exits don't let me focus on exit points , can you help me ?

please lets not talk about entry point strategies and money managment , they are fine , 500+ pips with a 90% daily win rate in 1m TF @ XAUUSD 

just looking for a proper TP targeting , and also when to break even (for example you break even in 50% of target reached or what ? )

is there any indicator that can help me in this one?

i looked ATR ADX but could not find it useful in 1m TF since they calculate previous data and can be false with a long reversal candle with high volume , or maybe i am wrong

any recommandations ?

thanks

I am a scalper so I exit immediately in few points I will explain in detail my recent trade on $AGIXUSDT

I traded Swing AX's 200% and exited above 1.618, this is all in 1 min chart

 

A good exit point means it is also a good entry point. if you have a good exit method, generally, you can use this method to deal opposite to earn.

to test my entry method work, i use fixed time exit. But i also have a MA group to follow the trend until the MA group are not the same direction.

so it is:  fixed_time_up && MA_Direction != trade_direction 

 
masoodkhodayi:

hi 

internet is full of best entry strategies , but no one talks about setting TP points , what is best way to set take profit point ? latest swing points ? R/R ? pivots ? how you identify the retest so u dont break even fast ? do you use higher time frames for exit points ?

but the problem is : i always exit very quick , focusing so much on entry points and quick exits don't let me focus on exit points , can you help me ?

please lets not talk about entry point strategies and money managment , they are fine , 500+ pips with a 90% daily win rate in 1m TF @ XAUUSD 

just looking for a proper TP targeting , and also when to break even (for example you break even in 50% of target reached or what ? )

is there any indicator that can help me in this one?

i looked ATR ADX but could not find it useful in 1m TF since they calculate previous data and can be false with a long reversal candle with high volume , or maybe i am wrong

any recommandations ?

thanks

You can choose Reward/Risk ratio as an input parameter to be optimized via strategy tester.

 
Depend on your strategy, if you want fast profit but not small profit intraday could be your choice. you can user stochastic oscillator for exit strategy if crossing back againts the trend.
 

Take profit strategy is a predetermined price level at which a trader decides to close out a profitable trade. The goal of this strategy is to lock in gains before the market moves against the trader's position.

Take profit strategies can vary widely depending on a trader's individual goals, risk tolerance, and trading style. Some traders may choose to set a fixed profit target based on a specific price level or percentage gain, while others may use technical analysis tools to identify potential resistance levels where price movements could stall.

 
If you're in it for the long haul then you hold until the trend ends , if youre looking to profit in a day or 2 then your TP should be your closest major support or resistance depending on the timeframe upon which you based your trade. make sure you have a positive risk reward ratio.
 
I agree with Carl Schreiber. Generally speaking, it's better to close positions depending on the current market situation which is constantly updated. If you set stop levels and ignore what happen until their reach, you will probably miss important information about it.
 

Since I'm a intraday trader/scalper I can only comment as such.

For me personally I look for 1H and 4H clean candles and use their top or bottoms as possible TP levels. Also good idea to close only a portion of trades during trending conditions and let some trades run while you SL is at BE.

This should also compliment your money management from a risk/reward point of view.

At some point though you have to decide how much money you want to make from a trade, otherwise you might end up with a lot of BE trades...

Trade safe.

 
1:1 works well
with a 60% of right trades.

Trading is about consistency and growing account slowly.
If you try to chew it all at once you will drown with the food.
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