fitditcorp wrote: Wed Apr 01, 2020 5:32 pm Thanks Implant,
Thanks for all your explanations. They have been really be beneficial to me. As an absolute newbie who is still trying to pick up Forex and now trading on demo please, I want you to explain how you pick your Take profit price.
You have already explained how you determine your stop loss point and this have been understood.

Thanks.

Be patient my friend;)
I immediately said, in my first post in this thread, that I could not simultaneously give a set of clear rules on how and what to do. This is due to the fact that these rules are, so to speak, different for different situations. In fact, I still had no opportunity to show how I am getting out of a protracted position. Sometimes this position can hold for 2-3 days. I hope I will still have the opportunity to show how this happens.
As for today ...



If I sold Dow at night as shown in the picture, I would close position at the beginning of the zone of possible support (a green rectangle in the chart). And the deal would look something like this ... Sell 22060 - TP 20935 (this taking into account my spread). One could earn 1125 pips. Pay attention to the level of 61.8 ADR located inside this rectangle. Perhaps the price will reach him. But this is true for today's situation. In other cases, it may have been necessary to act differently.