Hey pringy,
Personally, I use trend channels drawn on several different time frames to find my TP levels and also use a trailing stop as backup.
When I manage to get onto trades that don't immediately target my stop loss.....
Quite often the trade will start off great then reverse just enough to hit my stop, then turn back and waltz right up to where it would have hit my TP.
Sometimes the price shoots straight through my TP closing my trade and keeps on going way further.
While these trades can be frustrating, I would much prefer to have that small profit locked in and my margin ready for the next trade than to open myself up to more risk. Less risk = a better night's sleep.
