Many of you might be unsure about how to book profits in a trade. Most of the confusion revolves around TPs (Take Profits), as sometimes trades hit all TPs, sometimes 2-3 TPs, and occasionally only TP1.

To make it simple, here are two methods you can follow with any signal to maintain your profit rate:

1️⃣ Trailing Stop-Loss Method:

Once TP1 is hit, you should immediately trail your stop-loss (SL) to entry or in profits. As the trade progresses and hits TP2, TP3, or higher, continue trailing your SL to secure more profits. However, avoid holding the trade without trailing your SL, as market reversals can lead to losses if you’re not cautious.

2️⃣ Booking Full Position at TP1:

Close your entire position at TP1 without aiming for further TPs. This is a safer and simpler approach, especially for those who prefer minimal risk. SLs can be 5-10% from entry price to have a tight strategy and sometimes if you don't like the trade or the market, you can always exit the trade at your entry price.

By following either of these methods, you can ensure consistent profits with any signal trade.

Hopefully, this clears up any confusion and helps you maintain your profits.
Remember, signal trading is not always that accurate, don't expect it to always work out, try your best to mitigate the risks, and always risk what you can afford to loose.

Happy Trading

Regards,

Prince of Crypto