Profit Target in Forex Trading
Profit Target in Forex Trading
Forex trading involves analyzing and predicting. Whenever you enter a trade you should have a slight idea of where the price is going before reversing. According to this guess, you are able to set a profit target for each trade. Forex traders set daily and weekly targets based on the experience. Why is it important to know the target? Does setting a target limit the maximum profit possibilities? Is knowing your target necessary for the success?
The reason to set targets is to be able to close a trade (either automatically or manually) whenever the …