I've been trying to figure out what the best dynamic profit target could be. I trade on non-time based charts mostly (i.e. range). I have tried different methods on time based charts such as relative volume with average true range and sometimes as far as just manually closing out positions. Does anyone know of a good strategy to figure out where to place a profit target for a trend following system based on MA's and how will it move with different price action and time (if using time).
Any feedback is highly appreciated here!