What's a good take profit method

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Tafadzwa Nyamwanza
368
Tafadzwa Nyamwanza  
So I've found a very good indicator that follows the trend well. I'm currently using a fixed take profit, which works well enough. But I believe it is closing trades much to early, as the trend sometimes continues two times or 3 times the set take profit. I've tried trailing stop, but I'm unable to find a good setting. Trailing stop tends to close to early when the trend goes against you for a short period. Is there a better method to capture profit, before the trend reverses. Look forward to your input.
Marco vd Heijden
Moderator
8178
Marco vd Heijden  
Multiple confirmations of an upcoming reversal.
creativethinker
64
creativethinker  
Have you tried with ZigZag? It's a lagging indicator but you can make sure that you are taking a handsome/required profit. The other way is to calculate sharp movements of the pair like GBPJPY average TP is 30 to 70 pips but recommended is 30 pips but if you are using ZigZag you can ride with the trend and increase your profitability. 
Lucas Tavares
191
Lucas Tavares  
Marco vd Heijden:
Multiple confirmations of an upcoming reversal.

That's a good one. But without knowing your setup it's almost impossible to tell a good one.
For me a good one is: leave when happens strong divergences in strength and volume, and price is way to far from a MA(200) and it's outside of the bands (keltner).


If you want to share some of your way to enter I can help you to find a good way to leave the operation.

Marco vd Heijden
Moderator
8178
Marco vd Heijden  

I don't think it matters.

The longer you are in the trend, the more play you will have on your stop.

When you observe that it is running out of steam or moving closer to possible reversal point, its possible to move the stop real close.

Because otherwise you would still only end up with about half of the move on it's way back.

I guess it's the art of trading.

Tafadzwa Nyamwanza
368
Tafadzwa Nyamwanza  
Marco vd Heijden:

I don't think it matters.

The longer you are in the trend, the more play you will have on your stop.

When you observe that it is running out of steam or moving closer to possible reversal point, its possible to move the stop real close.

Because otherwise you would still only end up with about half of the move on it's way back.

I guess it's the art of trading.

Ok that looks like manual, I'm looking for an automated method 
Lucas Tavares
191
Lucas Tavares  
Marco vd Heijden:

I don't think it matters.

The longer you are in the trend, the more play you will have on your stop.

When you observe that it is running out of steam or moving closer to possible reversal point, its possible to move the stop real close.

Because otherwise you would still only end up with about half of the move on it's way back.

I guess it's the art of trading.

You've made me thinking of my entire trading history... You might be right, that's art. Thanks.
Marco vd Heijden
Moderator
8178
Marco vd Heijden  
Tafadzwa Nyamwanza:
Ok that looks like manual, I'm looking for an automated method 

This will never yield the same numbers.

Expect less.

Tafadzwa Nyamwanza
368
Tafadzwa Nyamwanza  
Marco vd Heijden:

This will never yield the same numbers.

Expect less.

Manual is good, just takes up to Much of your time
Lucas Tavares
191
Lucas Tavares  
Tafadzwa Nyamwanza:
Manual is good, just takes up to Much of your time
Trailing stop then. Easy, and good. Not perfect, good.
Marco vd Heijden
Moderator
8178
Marco vd Heijden  

Actually it doesn't have to take much time at all.

If it does with you, then maybe you don't know how to do it accurately.

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