In trading its all about recognizing the market conditions. Is the trend up or is it down? Going higher or lower? Is there news moving the market? So today we have Crude oil opened this am around 46 and was strong all day lifting off to new intraday highs. On 2 contracts of crude you need just 25 ticks to make $500 which is a very good profit goal. But when the market is breaking out to new highs, we go for more profits. And crude has been down for so long, going into the last half hour of trading you are more likely going to get a short squeeze, and that will drive the price up quickly. So on this trade there is small risk of your stop, but the potential profits are 8x greater than your stop.
So here we set the profit target at $800 and the goal was hit. We could of set it at $1000 and sure it would of hit it, but profit goals are up to the trader and what you are comfortable with. Crude ran up to 48.55 highs of the day after we hit our profit goal. With the autotrader it knows the trend changes, precise entrys that will have you in the profit quickly. As the average trader overthinks, and hesitates and then misses the trade. Autotrader never misses a trade. And history repeats itself this pattern will repeat again, and we will do the same thing. For more info on our autotrader visit: http://trading123.net/autotrader/