Forex Profit Targets

Profit target is the predetermined point to get out of a trade with profits to show for it. Usually profit targets are set at potential price turning points.

Traders use profit targets in many trading systems in order to manage the risk. In order to estimate you risk/reward per trade, you need to know where the profitable exit point is. Not only profit targets let you estimate the risk/reward, but they take emotions out of the equation. Just open stop orders with preset entry, stop-loss and profit targets and never look at them again until they get complete.

In Forex prices change so fast that sometimes it’s really hard or even impossible to close a profitable position before the price snaps back. How many times have you watched your unrealized profits eliminated and turned into losses? How many times did you kick yourself for not closing your position earlier?

There’s no reason to close the entire position when you get to your profit target. Instead, you can close off a part of it and use a trailing stop loss for the rest to make sure that you at least break even on the remaining part. This will secure the profit you made already and still make money if a larger move occurs afterwards.

Some believe that new traders can’t forecast profit targets. This is not true. Determining precise profit targets is not as hard as people make it out to be.

Anyone can determine precise price turning points using simple proven tools.

Below we present numerous instances when we predicted exact price turning points using widely available and commonly used technical tools. By EXACT PRICE TURNING POINTS we mean within few pips.

Sure, one could argue that we hit those price targets by a mere coincidence. But aren’t there too many coincidences? See our real-life signals and trades below:

Today’s trade if a great example of precise profit targeting:

The original Forex signal:

From: Dave Hughe <plainfx@gmail.com>
Date: Fri, Feb 24, 2017 at 8:18 AM
Subject: Feb. 24
To:

This trade on a chart:

Follow the links below to see just few more of our real-life precise profit targeting instances:

http://plainforextrading.com/2017/02/feb-16-forex-signals-results-107-pips-profit.html

http://plainforextrading.com/2016/10/th-oct-6-forex-signals-result-93-pips-profit.html

http://plainforextrading.com/2016/10/tu-oct-4-forex-signals-results-17-pips-profit.html

http://plainforextrading.com/2016/09/mo-sep-27-forex-signals-results-6-pips-profit.html

http://plainforextrading.com/2016/09/mo-tu-sep-12-13-forex-signals-results-18-pips-far.html

http://plainforextrading.com/2016/08/mo-aug-22-forex-signals-results-120-pips-profit.html

http://plainforextrading.com/2016/08/tu-aug-2-forex-signals-results-82-pips-profit.html

Scroll through the history pages of our blog to see many more examples.

To set precise profit targets YOURSELF, just read our e-book:

Our USDJPY short signal generated +107 pips profit today:

The original signal was sent out at 9:27 am to short USDJPY:

From: Dave Hughe <plainfx@gmail.com>
Date: Thu, Feb 16, 2017 at 9:27 AM
Subject: Feb. 16
To:

USDJPY Sell 113.64  SL 114.05 P1= 113.36 P2= 113.14

This trade reached both profit targets and the 3rd unit’s trailing stop was updated and later triggered at 113.35:

From: Dave Hughe <plainfx@gmail.com>
Date: Thu, Feb 16, 2017 at 11:24 AM
Subject: USDJPY P2 reached, SL 113.35
To:

On the chart this trade looked as shown below:

We sent out 2 Forex signals today:

1. Buy NZDUSD at 0.7273

From: Dave Hughe <plainfx@gmail.com>
Date: Fri, Jan 27, 2017 at 8:38 AM
Subject: Jan. 27
To:

NZDUSD Buy 0.7273 SL 0.7235 P1= 0.7293 P2= 0.7309

The stop-loss orders for this signal were updated and later triggered at 0.7274:

From: Dave Hughe <plainfx@gmail.com>
Date: Fri, Jan 27, 2017 at 9:10 AM
Subject: NZDUSD SL BE
To:

2. Buy USDJPY at 115.31

From: Dave Hughe <plainfx@gmail.com>
Date: Fri, Jan 27, 2017 at 8:46 AM
Subject: New order
To:

USDJPY Buy 115.31 SL 114.74

The stop-loss orders for this signal were updated and later triggered at 114.99:

From: Dave Hughe <plainfx@gmail.com>
Date: Fri, Jan 27, 2017 at 9:02 AM
Subject: USDJPY SL 114.99
To:

Our short USDJPY signal made +136 pips of profit today.

Today’s signal was to short USDJPY at 113.27:

From: Dave Hughe <plainfx@gmail.com>
Date: Tue, Jan 31, 2017 at 8:42 AM
Subject: Jan. 31
To:

USDJPY Sell 113.27 SL 113.55 P1= 113.07 P2= 112.87

Once the first profit target P1 had been reached, we updated the stop-loss SL and the second profit target P2 prices:

From: Dave Hughe <plainfx@gmail.com>
Date: Tue, Jan 31, 2017 at 9:28 AM
Subject: USDJPY P1 reached, SL BE, P2= 112.67
To:

After this trade reached its second profit target P2, we updated the stop-loss SL to 112.71:

From: Dave Hughe <plainfx@gmail.com>
Date: Tue, Jan 31, 2017 at 9:45 AM
Subject: USDJPY SL 112.71
To:

Our updated stop-loss order had been triggered at 112.71 for the total profit of +136 pips. On the chart this trade looked as shown below: