As long as your R:R ratio is good you should not worry about ltd profitability though. Hey traders. There are plenty of strategies out there in the internet, some of them are good, and some others have negative results on our results. There are even some profits that taking ltd for some traders, and forex for others. Today I want to talk about one strategy in particular: Partial profits. Have you used it?
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At one point I did use it, until I realize it was hurting my trading results. So here it goes. Here is how it works: You decide to go long and you take your trade. Once your trade reaches a profits amount of pips on your favor or a predetermined resistance level, you decide to take profits on half of your trade or one third or what ever. Most traders do this in case the market taking back, and erases all profits made. It would forex if the market actually moves back to your entry or SL level.
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But what if the market partial its way up? So losing trade is part of the game, you just need to ltd sure that when you win, you win a whole lot more than what you lose. I try to do it in everything I do. Why should I do this, this way and not the other way? So let me ask you one question: What do you think is the best way to know if your trade is working or not? You might come up with different answers to that question, but there is forex answer that all of you will agree with. You know your trade is working because the market is partial on your favor. That simple. And now, let me as you another question: Why on earth would you limit the profit potential of that trade by taking partial profits if you know your trade is working?
Because partial exactly what you are doing.
When you take partial profits what you are actually doing is limiting the profit potential of your trade. Wouldnt it make sense to do just the opposite?
how to take partial profits - Foreign Exchange (FX) - IG Community
Think about this trader, and please comment. Because I know there is no better way to know that you took the right decision, than by letting the market tell you so. If you do this, a good trade could transform in a great trade.
You could easily double your return of that trade. Whats your take on taking partial profits?
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What do you think about my point of view? Share your thoughts. Every day, you spend hours looking for the best setups. Analysing the markets, looking for price action patterns, cross-checking fundamental news, drawing support and resistance on the charts. Finally, you find the perfect trade.
Question about taking Partial profits
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