Profit Targets Are Killing Your Trades: Let Your Winners Run!
💬 In this video, Tom Hougaard shares a controversial insight: profitable traders don’t set profit targets. Shocking? Maybe. But it makes perfect sense once you understand the psychology behind high-level trading.
Imagine risking 20 points on the DAX and seeing the price shoot up 60 points. Do you take the profit? Or do you let it run? According to Tom, holding onto winners is what separates professionals from amateurs.
This episode is a must-watch if you’re stuck thinking in fixed risk-to-reward ratios. Break free from the 2:1 mindset and start trading like the pros.
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when we talk about risk versus
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rewards how do you know what your reward
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is going to be well you have a crystal
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ball let me give you a concrete example
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i'm trading the DAX and I decide that I
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want to risk 20 points being the the
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studious trader that I am I'm arguing
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you know what I'm going to risk 20
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points and I'm hoping to make 40 points
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and in this event I'm actually right
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let's say I bought the the DAX at uh at
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at 20 and it begins to rally 40 60 and
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it comes to 60 and I have now on paper
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made twice as much as I had risked what
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do you think happens when we get to 60
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you think I'm just going to say that's
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it i'm going to take my profit hell no
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not the way I work and my mind going to
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go well maybe you should just hold on a
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little bit longer maybe it's going to go
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your way so the whole idea of presenting
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a reward target completely negates the
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idea of how profitable traders truly
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trade they don't set profit targets
