A Trend question

Trading Discussion
1

During a trend, how do you take profit without leaving any pips on the table?

2

Hi, If you have crystal ball, you can take 100% pips from trend, if not, you need to make research and find best option :slight_smile: regards Greg

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3

I think you cannot do 100% by trading.
There always uncertain market move you cannot predict and where you will lose some pips.

The goal should be to chase all the pips but to get good risk:reward ratio on your account balance.

Chasing the pips will lead to over trading and making mistakes which usually leads to losing the money.

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4

@ProfesorPips and @GetKnowTrading on a personal note, how do you take profit? Your reply will mean alot.

5

I personally make research to find the best option exit from the open transaction. You have many options, e.g. TP orders, trailing stop, exit after time, exit after bars, indicators, a combination of indicators :grinning:

6

Nice, so you basically take profit using different method that suit the present open trade, no specific method you use most of the time?

7

I use the market exit method on a statistical advantage basis. Based on backtests, I know exactly how to close transactions. Not every method of exiting the market will suit every strategy, you need to research it.

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8

You’ll always leave pips on the table as you dont know whether the trend is finished or will continue. But you do not need to worry about that as there are enough pips for everyone everyday. Just be consistently profitable and always analyse your trades so you can recognise setups straightaway.

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9

I get exactly what you mean now, thanks for the insight

10

Noted, thanks

11

Impossible to do, except with blind luck.

If you can’t manage blind luck on every trade, then be satisfied with the chunk of the trend that you can capture, and don’t be greedy about the rest.

One of the great stock speculators of the early 20th century, Bernard Baruch, said this about trends —

“You can have the first 20%, and you can have the last 20%. I’ll take my 60% out of the middle.”

Be satisfied with 60%, and forget about chasing blind luck.

If you can take 60% out of every trend you trade, you will become a very wealthy trader.

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12

Thanks @Clint I have come to understand that taking profit depends largely on the strategy employed in trading. Rephrasing what @ProfesorPips stated, during the period of back testing a system, one should observe the maximum pips he can gain from that system. So it all boils down to knowing what my system can do and the maximum it can take. Is your take profit approach different from what have been stated here? If yes, how do you decide when to TP? Your response will mean alot.

13

A simple moving average set at 34 is a good way to hold a trade by trailing the stop on the other side , I also have have scale points and a target put in place also

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14

Once you place a trade, do you stay on the screen until you TP? Like staying on the screen to monitor movement inorder to know perfect point to trail your stop?

15

if everything worked perfectly every time it become very boring you get very bored and probably self destruct

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16

Highly impossible, but you can have a trailing stop in place to move with the direction of the trend the trick will be how much you want to risk when it reverses, only then you can maximize your TP, any other thoughts out there?

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17

Depends on the trade, when day trading I have a mutli screen as only ever have 2 trades open at a time and just keep an eye on it. I move the stop manually and only ever 1 direction. If a multi day move will look at it maybe twice a day

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18

@Clint This is deep. if I’m right, the first 20% is the candlestick confirmation to enter a trade right? What is the last 20% and how do you know when you have gotten there?

19

@Lang15 cleared, thanks

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20

@Coocheeboy noted, but personally I don’t like trailing my stop due to SL hunting or is their any techniques you employ to avoid being hunted when trailing your stop? Instead, I imagine a situation were I enter a trade that is trending, set my SL to probably 400pips and watch as price action tells me when to TP. For price action traders, what kind of signals do you watch out for before taking profit?