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CH3 DOK
https://www.thestrategylab.com/tsl/forum/viewtopic.php?f=61&t=4265		 Page 1 of 1
Author:  Icytrader [ Fri Oct 25, 2019 2:54 pm ]
Post subject:  CH3 DOK
Out of the 3 chapters this one has been the one that has answered one of the hardest questions for me.
How to set a profit target.

I was never at ease when other systems would tell you to put a fix amount regardless of the volatility of the market.
A system that only strives for a 2pnts move will not make use of a 10, 20 or more points move, and the opposite also applies, a system that always strives to get 10 pnts will suffer in a low volatility environment.

This chapter has been an eye opener! [ec35]

The included chart shows the basic profit targets.
The strategy used was a breakout strategy in the WRB Zone. (For example purposes only).

Attachments:
CH 3 DOK.png
CH 3 DOK.png [ 116.57 KiB | Viewed 332 times ]
Author:  Icytrader [ Fri Oct 25, 2019 3:07 pm ]
Post subject:  Re: CH3 DOK
On the WRB analysis CH3 the discussed Profit targets were:

1-When the next WRB that continues to move in the direction of the trade is getting printed on the chart ( you don't need to wait for the bar to close)

2-When the next WRB that continues to move in the direction of the trade closes

3-When price hits a previous unfilled WRB Zone

On the chart the PTs that were used were the #2
Author:  wrbtrader [ Tue Nov 12, 2019 1:53 am ]
Post subject:  Re: CH3 DOK
Icytrader wrote:
Out of the 3 chapters this one has been the one that has answered one of the hardest questions for me.
How to set a profit target.

I was never at ease when other systems would tell you to put a fix amount regardless of the volatility of the market.
A system that only strives for a 2pnts move will not make use of a 10, 20 or more points move, and the opposite also applies, a system that always strives to get 10 pnts will suffer in a low volatility environment.

This chapter has been an eye opener! [ec35]

The included chart shows the basic profit targets.
The strategy used was a breakout strategy in the WRB Zone. (For example purposes only).


Hi,

I was the same way too. Its the primary reason why I prefer to use WRB Analysis for profit targets but also for stop/loss management and trailing stop management because it uses the current volatility of the price action instead of fixed info that more often than not related to the current price action.

wrbtrader
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