Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,166,409 members, 7,864,809 topics. Date: Wednesday, 19 June 2024 at 07:21 AM

Setting Profit Targets Correctly - Business - Nairaland

Nairaland Forum / Nairaland / General / Business / Setting Profit Targets Correctly (140 Views)

Aiteo Records N471 Billion In Half Year Earnings, Targets N1 Trillion / Lagos’ ICT Cluster Takes Off, Targets $10bn Revenue / NPDC Targets 500,000 Barrels Of Crude Oil Per Day Production (2) (3) (4)

(1) (Reply)

Setting Profit Targets Correctly by Veenbanks(m): 1:01pm On Mar 23, 2023
As a trader, setting profit targets can be a daunting task. However, contrary to popular belief, setting profit targets isn't just about achieving a specific risk-reward ratio. Instead, it's about observing market behavior and using that as a clue to where it might go in the future.

The market is unpredictable and doesn't care about your risk-reward ratio. It goes where it wants to go. For example, if the market has previously collapsed at $100, then the next time it approaches that level, there's a possibility of selling pressure coming in at that level.

As a swing trader, you don't want to set your profit target at a specific risk-reward ratio, such as 1:2 or 1:10. Instead, you want to exit your trade before opposing pressure steps in. This means you need to exit your trade before swing highs, resistance, or downward trend lines, and it's the opposite for a short trade.

Therefore, to set proper profit targets, you need to focus on market behavior, identify key levels, and use them as an indicator to exit your trades before opposing pressure steps in.

This approach will increase your chances of achieving profitable trades and minimize your losses.

1 Like

Re: Setting Profit Targets Correctly by Veenbanks(m): 1:08pm On Mar 23, 2023
Therefore, we have come up with an innovative solution to help you succeed in trading the financial market.

Joining our Telegram channel will be a thrilling experience, and we can't wait to have you onboard. So, start saving now and get ready to elevate your financial muscle to the next level. Let's soar to new heights together and not miss out on this fantastic opportunity!

(1) (Reply)

ARCON Set To Hold Maiden Advertising Industry Colloquium In Lagos / Why Does Hiring A Digital Marketing Company Turn Beneficial For Your Business / Affiliate Marketing

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 8
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.