Profit Target Manager

Set targets at the time of entry, before the trade begins. At entry, you are thinking clearly and can objectively assess appropriate levels. Once in the trade, emotions affect judgment. Document targets as part of your trade plan.

That is why you took partial profits. You locked in gains on 33% of the position. If it reverses all the way, your stop (now at breakeven) protects the remainder. You still have the T1 profit. This is the system working as designed.

No - adjust targets for each stock's volatility. A volatile miner might need 8-10% targets, while a stable utility might only move 3-5%. Use ATR or typical percentage moves to calibrate. R-multiple targets naturally adjust if your stop is volatility-appropriate.

Take the profit at the opening price after the gap. Gaps through targets are a gift - you got more than your target. Do not hold hoping for more. The target was appropriate; exceeding it is bonus. Execute the exit.

Use both. Calculate R-multiple targets as baseline, then adjust to nearby technical levels. If 2R is A$52 but strong resistance is at A$51.50, set target at A$51.50. Technical levels increase probability of target being reached.

Wide enough to avoid normal noise, tight enough to protect profits. Common approaches: 2-3 ATR below high, 5-8% below high, or below recent swing lows. Backtest different methods for your strategy. Trailing stops should give the trend room to continue.

Consider it, especially if you have significant gains. Earnings can gap either direction. Taking some profit before earnings locks in gains and reduces event risk. Leave some position if you want to participate in potential upside surprise.

In a crash, reaching targets may be unlikely. Consider reducing targets or switching to time-based exits. For existing positions, protect capital first - if stops are hit, exit regardless of target. Preservation is more important than profit maximization in crashes.

Backtest different scaling on your historical trades. Calculate total profit under different schemes (50/50, 33/33/34, 25/25/50, etc.). Consider strategy characteristics: high win-rate favors more at T1; trend-following favors less early. Optimize for your specific system.

Extend targets when: momentum is exceptionally strong, fundamental news improves outlook, or technical breakout suggests larger move. Never extend due to greed. Have objective criteria. If extending, switch to trailing stop rather than fixed new target.

For credit spreads, target 50-75% of max profit. Waiting for 100% ties up capital and risks reversal for diminishing marginal gain. For debit spreads, target 50-100% depending on time remaining. Close early if profit is available and theta is accelerating.

They complement each other. Individual targets manage position exits. Portfolio targets prompt review of all positions when overall gains are substantial. If portfolio is up 25%, consider trimming all winners by 10-20% even if individual targets not hit. Both systems work together.