Profit target strategy

B

Bodrey

To the mods: This question is not platform-specific so it seems like the best place to post it. Feel free to move it to IB if you want...

Hi All,

I'm new(ish) to Options trading and have a question about setting profit targets. I use IB's TWS but I'm sure the procedure for attaching Bracket Orders is similar to other platforms. I'm just paper trading right now (selling Put Credit Spreads; mostly on SPY and QQQ), and I've been taking profits based on a percentage of the premium received. However, I've now got to wondering if I'm leaving profits on the table with this approach. I mean, would it make more sense to take profits based on the stock/ETF reaching a Resistance level? Would I earn more with this approach, or am I better off just sticking to a predefined percentage? Or, should the Profit Target % vary depending on the stock or ETF being traded?
 
When it comes to profit target strategies, it's essential to have a clear plan in place for your investments or business. Having financial guidance can be beneficial. By the way, if you're looking for advice or support in implementing your profit target strategy, you might consider reaching out to a financial institution, for example, via this first entertainment credit union phone number. They can provide valuable insights and resources to help you achieve your financial goals. Don't hesitate to give them a call and discuss your strategy.
 
You must log in or register to reply here.
Back
Top