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There have been some good replies to this topic and I would like to add one
additional thought to this topic. Several have already expressed the
different timeframes that they trade. I have always wondered if someone
trades on a shorter the timeframe, does the profit objective automatically
become smaller.
Does someone trading a 5 tick chart go for a smaller profit target than
someone trading a 12 tick or 25 tick or a 3 min versus a 5 min chart? If the
target is smaller, it seems that traders may be setting a fixed target of .60
per trade or 1.0 for example but if the targets depend on the market activity,
traders may be making decisions based on indicators, patterns etc. Maybe
those who have responded could tell how or if they set a target for profit.
Thanks.
Lynn
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