123ArticleOnline Logo
Welcome to 123ArticleOnline.com!
ALL >> Investing---Finance >> View Article

How To Get The Timing Of A Take Profit Order Right

By Author: John Arnold
Total Articles: 42

Price is an elusive concept to most Forex traders. Most of them have no clue about the final price when they place their trades. To make up for this lack of knowledge, a system has been devised to dictate the placing (or lack) of a take profit order while trading Forex. There are a particular set of situations that influence it.


In everyday trading, the most common reason for a take profit order to be placed is your expectation for the market to resist or fight your position at a particular range. For instance, you may encounter a sizeable resistance area on your buy order. This is pretty likely to provide you a headache up ahead. If you are in a position where you can clearly identify and anticipate such obstacles, placing a take profit order makes sense.


But placing such a take profit order is not easy. The factors which have the biggest influence on placing such an order are:


1) If you are trading with the overall long-term trend.
2) If you are trading against the overall long-term trend.
1 - Trading WITH The Overall Trend
In fact, the smart choice while trading with the trend is to let the trade run its course. By placing a take profit order, you are effectively limiting the trade’s full potential and reaping profits only upto a certain extent.
2 - Trading AGAINST The Overall Trend
On the other hand, placing a take profit order while trading against the trend is a wise decision. This is due to the fact that the prevailing trend holds up for a long time. This is exactly why you can expect some obstacles to your position when tackling these areas. The entire force and weight of the market will be working against you. Under this scenario, you are also better off taking your profits and getting out while you can. Trends tend to last for years in the

Total Views: 85Word Count: 444See All articles From Author

Investing / Finance Articles

1. No Credit Check Faxless Payday Loans
Author: www.faxlesspaydayloansbadcredit.ca

2. Understanding Corporate Debt Restructuring In India
Author: Aniket Vichare

3. Tips To Know Before Applying For A Personal Loan By Srg
Author: srg housing

4. The Ultimate Guide To Cryptocurrency Wallet
Author: cryptocoinx

5. Buy And Sell Mutual Fund Online | Moneytreesolution
Author: Moneytreesolution

6. Can I Get A Loan Despite Bad Credit Unemployment?
Author: nocreditcheckloansguaranteed

7. Advantages Of Binance Crypto Exchange
Author: Cryptocoinx

8. Payday Loans For People On Benefits Direct Lenders - 100% Online Decision
Author: Hamish Rutherford

9. Best Mcx Commodity Tips Provider In India
Author: Abhishek

10. Why Open An Nri Account?
Author: Samantha Kennedy

11. Commercial Mortgage Loan
Author: Loansa Assit

12. Why Perform A Fundamental Analysis Of A Company?
Author: Aastha Kapoor

13. Open Online Trading Account With The Lowest Brokerage Charges
Author: Krutika Sharma

14. Avail Reliable Tax Return Online Australia Services To Get The Job Done Like Never Before
Author: jameslogaa

15. Get Yourself Best Sip Plans For Long Term
Author: Jignesh Shah

Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: