What should be the target in intraday? |5 ways to set intraday target
In this article we will tell you that if you do intraday then “What should be the target in intraday?”. Newcomers often face the problem of when to exit a trade. The most important part of intraday is that you exit the trade at the right time so that you do not suffer loss instead of profit. Read this article till the end so that you can learn how to find intraday targets.
What should be the target in intraday?
Taking a trade in intraday is easy but making profit in that trade and exiting at the right time requires a lot of experience. In this article, we will tell you about some methods which will make it easier for you to find your target in intraday. So let us know in detail what should be the right targets in intraday. You can get complete information about intraday by reading our article on what is intraday trading.Keep in mind the risk reward
The best way to find your target in intraday is to keep in mind the risk reward. Your intraday target should be at least twice the stop loss of the number of points you have kept. For example, if your stop loss is 10 points then your target must be at least 20 points. If your strategy gives good profits then you can also set a target of higher numbers like 30 to 50 points. You do not have to exit your trade before the target.
Look at support and resistance
Mark the support or resistance around the place where you have taken the trade through a line. If your risk reward is met there then you can exit the trade. Support resistances help a lot in finding targets. You must read our article on support and resistance. You can find your target by marking all the nearby support resistances that you see on the chart. 
You can understand from the above picture where we took the entry, after that we marked the first resistance above and the target was easily found there.
set target according to percentage
Some traders keep their targets according to returns. That is, if they are taking a risk of 2 percent in a trade, then they leave with a target of 4 to 5 percent. You can also keep a fixed return. You should keep your target in such a way that if you are getting 5-10 percent profit on your capital then you can exit the trade. You can also set your target according to return percentage.
learn candlestick patterns
If you learn candlestick patterns well, they will also help you to exit the trade at the right time. Learn Candlestick Patterns. However, candlesticks are used by professional traders to extract huge profits from trades. But beginners should set targets only based on their risk reward and support resistance.In Candlestick you can learn about morning star, evening star, engulfing candle and DOJI candle. When a candlestick pattern forms at a support or resistance, it signals you to exit the trade. Because candlesticks work to change the trend.
use moving averages
If you want more profit from the market and do not want to miss big moves, then you can use moving average for bigger targets. For this you can put a moving average of 20 values on your chart. You can hold your trade as long as the price continues to move above or below the moving average. If a candle starts closing above or below the moving average, you can exit the trade. You can use moving average depending on which trade you have taken - buy or sell.
You can see in the above picture how much the 20 value moving average helps in taking big targets. Sometimes moving average is also capable of giving you big profits.
Conclusion:
The conclusion of this article is that the target risk in intraday should be at least two times. You can also find intraday targets through nearby support and resistance. Without getting greedy, you should exit the trade as per your 1:2 risk reward. Because it does not take time to convert profit into loss. So learn to lock your profits and keep increasing the stop loss gradually. Newbies know how to take trades but due to greed they are not able to book their profits at the right time.FAQ:
How do I become successful in intraday trading?
Avoid emotions and pre-determine returns and risks: Another basic technique for intraday trading is to determine your entry-level and target price beforehand. You must avoid making impulsive and emotional decisions, no matter what. Once you reach the target price, immediately square your position.How to become profitable in intraday?
Maximize your risk reward i.e. small stop loss and big profit, this formula will make you profitable in intraday.How to make big profit in intraday?
By controlling your emotions and trailing your stop loss you can make big profits intraday.
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Option Trading