Ohh, that's my way. when I am away from terminal, I place two different order, one SL and other target order. When target achieved, I cancel SL order. When I am at terminal I never place SL, because I place only half of order first than average if price go against me.
Generally I prefer fixed target as I am used to it. It is generally Rs.1 for stock less than Rs. 200 ie around 0.5%. For last 2-3 months my profit turns into loss because of high target. So as challenge to control greed I started to reduce no of trades, sitting time at terminal and fix target of Rs. 2000. I generally close terminal after Target achieved.
Yes, previously my target missed because of fixed order. Now my target of .5% is easily achievable, so no worry.
I am happy with small target. I just check 1 min candle and punch trade quickly. I never sit a terminal more than 1 hour. After my position squared off I never track the stock that day. So, I am unaware, if it goes in my direction or not. Who need to become rich in one-day, market will be there forever. Rs. 40K a month is a nice income . Don't you agree?