How can I set my TP exactly before the trend changes

[Azlan00IM]

Hi, In these 2 weeks, I used average true range (ATR) to set take profit. I setup so my TP is 4 times the ATR value from the time I entered the trade. However, this is not always accurate. Sometimes the price goes up/down less than the 4XATR. But sometimes it goes higher than 8 times ATR. I found that too high take profit is not good, since there is no way to find when the price will go down again, especially if it doesn't hit TP. However, if I place too low TP, it would also mean that I will lose hundreds to thousands of pips. If there is anyway where can I set the TP exactly before the price changes direction?

 

[WatanFX-Rep]

ATRs along with other tools work in the same way. Nothing is accurate in the markets.

Instead of trying to set TP points, I would suggest protecting the profits already earned due to a correct directional trade.

Nothing is worst than turning a winning trade into a losing one, because of a trader's own personal egos.

 

[Pharaoh]

If you can spot exact trend changes and set TP as well as limit orders around those, you'll become insanely rich.

The truth is that this is a game of probabilities. Support and resistance don't always hold. Plus, support and resistance are often zones instead of exact levels.

 

[nahiyar]

No one can tell you exact point of TP to you . It is up to a trader how much he has having in account according to market situation he will decide . He can choose 20 to 50 pips take profit . Better is that analysis should be good to know when will trend change . Support and resistance levels help them to know all this.

 

[arigoldman]

Don't rely solely on indicators. If they were enough everybody would be a millionaire.

 

[Bordux]

I set my TPs depending on support and resistance levels in the markets. I look for significant levels to anticipate movement changes. If a level shown a rough rejection in the near past, I normally would anticipate a rejection again. If the level breaks - I move on because as pharaoh said - it's a game of probabilities.

 

[Whitesnake]

If you can spot exact trend changes and set TP as well as limit orders around those, you'll become insanely rich.

The truth is that this is a game of probabilities. Support and resistance don't always hold. Plus, support and resistance are often zones instead of exact levels.

I really agree to the pharaoh's statement, this is a game of probabilities and any profits made should be cherished. Instead of thinking of the exact points, i would concentrate more on the consistency of making profits. Thus, fix a certain percentage or pips or dollars whichever if your way of measuring the success and then get set to that.

 

[Aaron Dias]

I really agree to the pharaoh's statement, this is a game of probabilities and any profits made should be cherished. Instead of thinking of the exact points, i would concentrate more on the consistency of making profits. Thus, fix a certain percentage or pips or dollars whichever if your way of measuring the success and then get set to that.

I have pondered about the probability of Profits and Losses in my trades and have come to the conclusion that in most of the trades where the chances of loss are high losses actually do happen

 

[Whitesnake]

I have pondered about the probability of Profits and Losses in my trades and have come to the conclusion that in most of the trades where the chances of loss are high losses actually do happen

Very much true, when the trader has got the hint that there are losses bound to happen, its always best for the trader to realize the loss at the best level and prevent it from drilling a hole in their pocket.

 

[bigdolly]

Always set TP that covers potential loss from a trade, spreads and other trading fees. Don't aim to make many bucks from one trade it's very bad from the view of money management. My TP is around 10 pips more than SL.