That is smart. I would like to add some people do multiple take profits. For example, have 1 take profit lets say 50 pips away and another 120 pips away. Set 2nd TP trade to break even stop loss once TP1 has been hit.
You don't need to control your emotions in a trade when you know your profit and stop loss target. Rule-based trading exempts you from unneeded actions like monitoring price for exits.
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