Trader Dale Volume Profile

Position management
With 10 pip Profit Target, the situation would look like this:
I am not a fan of this approach. The reason is that it is quite usual for the price to return
back to the entry level after the first impulsive reaction. The main reaction, however,
sometimes happens only after a pullback to the entry point. This way lot of potentially
profitable positions would end up too soon.
The reason why a lot of people like this approach is that they feel safe when they secure
the position at Break-even. In such case, it means that they can either win or quit without
a loss. In real trading though, such people quit a lot of trades that would eventually end
up as winners.
Quitting the position earlier
You can apply this rule in all three Stop-loss management approaches I mentioned. The idea is to
quit the position at the Break-even point when you see no reaction to the level and when the
price makes a long rotation in red numbers (below your long entry or above your short entry)
without any significant rejection. In such case, you try to get out ideally at Break-even. For
example like this:
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