The perfect Take Profit - page 2
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-Aleks-:
I.e. it is an option to catch the movement before resistance. And the lines allow you to calculate at what time in what price range the expected resistance will occur.
Only the time is expected and the price according to the opening of the signal bar.
Only the time is expected and the price by the opening of the signal bar.
I understood that there is a marking on the lines and closing at their touch, is it not? If so, it turns out that the TP level depends on the time.
My Take Profit is a certain condition: price should cross or be very close to the channel boundary
Is it a channel formed according to a certain algorithm or by eye? How often do you manage to take a take profit?
Is the channel constructed according to a certain algorithm or by eye? How often do you manage to take a take profit?
I understood that the lines are used to mark and close when they are touched, isn't it? If so, then it turns out that the TP level depends on the time.
Stop loss at touching, because not all lines are executed before touching.
I have both Take Profit and Breakeven and stops flexible and change depending on volatility and divergence-convergence with other instruments. There are two other ways to close, but that's an afterthought.
The general idea is that once we open a position we don't abandon it, but continue to monitor the situation. For example, it doesn't make sense to set a high target if the market is sluggish, but if the market starts to move, we can move the takeprofit. The same thing with the correlation: If your instrument starts to show more zeal compared to some benchmark, you can give it a chance to earn more.
I.e. I think the ideal take profit (as well as the system itself) varies depending on the situation.
But whether one should specify an initial (although changing later) size of takeprofit as a certain indent from a position to be opened or set it at some "external" levels, independent of where one has entered - is still a question for me. Apparently, you can do it both ways, depending on the situation.
On the one hand, the market does not give a damn when you have managed to enter it, but on the other hand, a correctly opened position should take into account some fundamental conditions and then take profit should be correct. I.e., in my opinion, it is difficult to think out separate rules of marking of takeprofit that would differ much from rules of opening of such positions and serious discussion of an ideal takeprofit should inevitably pass into discussion of the ideal system.
As for the time of existence of a position - I do not think it is an effective way to regulate TP, again, because it is a subjective factor.
If a deal is not thrown to an Expert Advisor, but you conduct it yourself, do you need a TP at all?
Otherwise you may put TP of 200 points, but it will reach 190 and objectively, according to all indicators, it will start to fall. So it's better to close at 190-180 and open a new deal than to wait until it goes up again.
it just seems to me that there is some semblance of a difference between trading and investing.
If a deal is not thrown to an Expert Advisor, but you conduct it yourself, do you need a TP at all?
Otherwise you may put TP of 200 points, but it will reach 190 and objectively, according to all indicators, it will start to fall. So it's better to close at 190-180 and open a new deal than to wait until it goes up again.
It just seems to me that this is some semblance of a difference between trading and investing.
You may do it without TP, but you can't do it without SL. Although if you don't set the profit bar - then why open the deal at all?
SL is definitely needed, and it seems to me that the topic of the ideal SL level is just as important.
And for this you need to look at the situation as a whole, not just at the desired level of SL.
...how much she's willing to give...