I think a trader is constantly changing, hopefully for the better. And concepts that once seemed ridiculous or foreign to me, is now part of my knowledge base. So I guess it is always to keep an open mind when one is a student, and let's face it, we are all students and the market is the teacher.

For example, we all know that the correct TP is one of the hardest part of a strategy. I struggle with it on a daily basis, and it can make or break a strategy. There are a million ways to do this. Some use a fixed TP, others used optimized TP, more use trailing stop, some use price projection like Fibs and others just use their gut.

I have my own views on price projection that I have observed using previous price action, S/R, speed of the market, and historical % movement. The key is knowing the statistics of human behavior...which is why Fibs is thrown around because it is a pattern someone else observed to be in nature. Remember what I said about DNA and human emotions, somethings we can't even help ourselves, it is already programmed into us from birth.

For instance, Euro is sitting at 1.3850 right now.

If you were short, I would project the ideal TP @ 1.3765.

If you were long, I would project the ideal staggered TP @ 1.4105, 1.4230, 1.4310, and 1.4400.

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