Here are my two cents on profit targets...
I think it comes down to personal preference. Personally I only exit a trade at 5 - 10 pips profit if price indicates the trend may be waning. If I do not see any price action suggesting an exit I hold on to see if the trend will continue.
My favorite technique is to enter a trade based upon the 5 second chart. If the trend is decent, I then look to the 30 second chart to either create a new spine on a trend change, or confirm a continuation of the trend in progress. If I get confirmation from the 30 second chart this suggests that the trend has legs, and I wait for more pips.
Does that make sense?
I think it comes down to personal preference. Personally I only exit a trade at 5 - 10 pips profit if price indicates the trend may be waning. If I do not see any price action suggesting an exit I hold on to see if the trend will continue.
My favorite technique is to enter a trade based upon the 5 second chart. If the trend is decent, I then look to the 30 second chart to either create a new spine on a trend change, or confirm a continuation of the trend in progress. If I get confirmation from the 30 second chart this suggests that the trend has legs, and I wait for more pips.
Does that make sense?