Pt1 at 1.1000, pt2 at 1.1100

Long USDCAD at 1.0875, stop at 1.0725, pt1 at 1.1000, pt2 at 1.1100

What is the meaning of:

pt1 at 1.1000, pt2 at 1.1100

Evidently, someone has reversed the letters. (I think that’s called dyslexia.)

It should read [B]TP1 at 1.1000[/B] and [B]TP2 at 1.1100[/B]. This denotes [B]Take Profit[/B] points.

When you take a position off in steps, in this way, it’s called scaling out of your position.


p.s. -

In this example, you have a SL of 150 pips. If you scale out of this position in equal amounts (taking off half of your position at each TP point), then your overall Risk/Reward ratio for this trade will be 1:1.4, which is good — [B]but, it assumes that the second half of your trade runs all the way to your second TP.[/B]

sorry i just dont understand,
can you explain please