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hi all,
could someone guide me on the subject of setting profit targets.
i have designed a position trading system that takes profits in
the following order:
exit 10 % position at 3 % profit
exit 30 % position at 4 % profit
exit 30 % position at 5 % profit
exit 20 % position at 6 % profit
exit 10 % position at 7 % profit
now i have just started trading the system live on the indian
market, and the first trade itself saw a huge market movement due
to infosys technologies grim future outlook. thats been great, the
system was short and the market is just skidding down.
the problem is that i have started getting restless with wating
for the 4 and 5 % ..... targets and want to book as much as
possible now, and keep getting doubts that targets are somehow not
great numbers.
can someone please guide me with some ideas or literaure regarding
optimum/good/practical ways to set profit targets?
any input would be highly appreciated.
regards,
dhiraj kothari
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