When price is close to TP what should we do?

Here sometimes is situation that you have very little price to move and hit TP. And then decides not to hit and hits SL.
If I close part of position near TP, I might lose profits.
But from time to time when it happens when I do not win with position which was close to TP - I also loose some profits.
So I am not sure which one will loose more profits. This could be simulated if the system programmed by bot. But if the system is hard to program, like with fundamentals, or support resistance levels, then I do not know how to calculate which is more profitable.
example how I lost 1,1637 was TP, 1,1653 - SL. I needed only 2 points. Which in percentage was quite big. because of this tight range.

I basically always set my SL & TP in the above or below of support/resistant level. Most of the time, market doesn’t touch the exact S/R level; thus I handle this issue.

How sad, marked moved in my direction, just sl had to be wider. Yra I also try to set sl above the resistance but I set not enough

For swing trading, usually I use 7-8 pips buffer (extra pips than the support/resistant). In addition, 3-4 pips for scalping.

I apply "preserving" the profit method.
example, say price is 5pips away heading to TP, activate trailingStop.
either direction is guaranteed profit.

Depends on the PA. If on 15min chart i see reversal I'm closing

tried this also. Feels like most of the time the trailing stop is hit, and so feels like better to close instantly because trailing stop hits at worse than current price

When Price is close to TP, what should we do?

I literally just watched a video by Sam Seiden that discusses this very thing. I will recount the tale here (based on a true story):

Jim is a trader for a well-known bank. After diligently studying his charts, Jim spies an opportunity. He strides into Bill's, the head-trader, office.

Jim: " I've found a great trading opportunity in the Market. I only have to risk $1,000,000.00 to make $10,000,000.00."

Bill scrutinizes Jim's charts. Convinced that Jim is on to something, Bill smiles and says, " Put that baby on."

Jim rushes to his desk and places the trade. In short order Jim's position in profit $8,000,000.00*. Jim beams as he stares at the computer screen. "An $8,000,000.00 profit might get me an office and a huge bonus", he says to himself. One hour later, the trade has moved up to the $9,000,000.00 profit level. Suddenly, the market changes direction, and the profit is down to $6,000,000.00. Steadfast in is believe this move is a "correction", Jim stays the course. Price inches back in his favor an Jim soon finds his position is $7,500,000.00 in profit.

The trading floor swells with activity. The dull roar is now a buzz. Something is going on. Jim focuses on his screen as he tried to drown out the floury of activity around him. Price jumps up. The profit is now $9,000,000.00. In a blink of an eye, it shrinks down to $6,5000,000.00. Jim's hand inches closer to the mouse. Anther burst of orders, and profit is back to $8,000.000.00. Jim flattens his position.

Jim struts into Bill's office like the cock of the walk.

Jim: "I exited out of that trade. It netted us $8,000,000.00."

Bill: "$8,000,000.00 !?! You're fired."

Jim: "Excuse me. What do you mean I'm fired?"

Bill: " You came in hear and told me for $1,000,000.00 worth of risk, we could get a $10,000,000.00 reward. $8,000,000.00 is not $10,000,000.00. Instead of the firm's risk/reward being 1/10 as you initially said, it was 1/8. In addition, you clearly did not follow your trading plan. Your trading plan called for a $10,000,000.00 profit target not $8,000,000.00. You weren't stopped out at 8, you exited. So you did not follow your trading plan. This firm can't afford to employ traders that can't follow their trading plan. So, you're fired.


* While it is better to think in terms of points/pips rather than money, for the purposes of the story money is used.

Haha, brilliant and so true!!!

So, you use m15 for closing any trade then which time frame inspires you to take a new trade?

Well best idea is to entry where price should reverse and change direction completely. Like D1 chart with entry on 1minute or tick charts. (To get the greatest entry) Then you can go for much more pips and so you can close sooner and still get good profit.