Set Price Targets

Set Price Targets

Often a swing target can be determined in advance. Traders can place a limit order to trigger automatically as price approaches the target. Alternatively, an alert can be set to warn that price is approaching the target. When the alert is triggered, price can be observed on an intraday time-frame for an optimal exit point. Rather than setting an alert or limit order for the exact target price, it is usually best to exit a bit before the actual target price. Too often price turns just before the target is reached resulting in a missed opportunity to exit at a desir­able price. It is penny wise but pound foolish to hold out for every cent.

If a stop order is in place for protection (recommended), then a limit order to exit can be placed as a one-cancels-other order. Most brokers offer this type of order. If this order is not familiar, contact your broker for instruction.

Each individual investor will have their strong points and their weak points. Their likes and dislikes. Trading styles that fit their schedule and trading styles that they would like to do but do not have the time to execute them properly. Applying candlestick signals to a multiple of technical methods and timeframes allows an investor to cultivate investment programs that is successful for them. Utilize whatever methods work. Cultivate trading techniques to your comfort level. Successful investing is easily achieved when an investor can put all the parameters in the right places.