We go over the latest results for Tick Pulse without a profit target (we currently use a 10 point stop loss and 12 point profit target). Without a profit target the total net profit nearly doubles and average trade profit nearly triples to $150 per round turn trade, over the last 7 months. A strategy that has quick re-entries can under perform with a profit target. Removing a profit target decreases the trade count by over 100 trades in the last 7 months, which can be a decent amount of slippage and commission.
I am working on Tick Pulse II, so that it will not take the exit and re-entry trade right away. There will be no profit target if the entry condition exists again at the time the profit target is calculated and it will calculate a new stop loss and profit target based on a new signal without actually taking this new signal if it is already in the trade.
Trading Tick Pulse without a profit target has been one of the best approaches for this strategy. We stopped trading this last year during a drawdown and are looking for a re-entry with 3 losers in a row or a 1-2k drawdown to start. You can get it here and trade it with us.