What is the use of TP1 or TP2? | EdgeTradings

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TOP 6 Benefits of Forex Trading

TOP 6 Benefits of Forex Trading

  Why are forex trading signals important?       "You are fascinated with the idea of currency trading. But you're on the edge about whether it's the best way for you to generate money. Well, we can help."   What is forex trading? Foreign exchange trading, often known as forex trading, is the process of purchasing and selling currency values...

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What is the use of TP1 or TP2?

 these values in the form of TP1, TP2, etc., are known as the intermediate target levels. It’s a pretty simple strategy based on which we do offer more profitable trades for our signal users.

Consider you’re making a new trade with 0.2 lot size. While this trade executes and the current market price had reached the TP1, you need to do the following steps,

  • When TP1 is achieved you can partially close 0.1 lot size alone at that point and hold back the remaining trade open.
  • Also, you’re advised to update the Stop Loss (SL) level to the Entry of the trade once the TP1 has been met.

This can widely reduce your losses in trades even when signals get reversed after certain limits before even reaching the actual target level. Thus leaving you with profits, reducing the losses.

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