Honestly just setting up a "take profit" and "stop loss" and leave it be until one of those gets hit is the short summary of this. I can't say that this is a bad idea, it could be considered a good idea, but at the end of the day I would have to say that it is going to be a bit of a tough one at that.
Because setting this up is the hard part, it is not going to be ending up anything easy for people to do this, it is not that easy and we should be considering it doing a lot better. I feel like it should be considered as good as it gets and should be profitable thing in the end. I do hope that people can put those two things at right places, but some people will do this and lose money because they put it at the wrong price.
Yes right, you said risk management in a simple but reasonable way, stop los and also take profit in my opinion this is very mandatory for anyone, especially beginners and even professional traders will never be separated from these two risk management, But in my opinion even though you have implemented both of them it does not mean that you can completely avoid losses because the market is very volatile and it could be that your analysis suddenly misses because of a very significant movement, and also I think it will also not be able to completely divert you from emotions, as you said take pofit and also stop los are simple but indeed quite difficult to do, because we must be able to place both correctly and correctly.
So in the end in my view it will come back to how much they understand in doing it and also how far the knowledge they have. And also in my opinion these two items are shown only for when you cannot always monitor the market and you can put take profit and stop los so that you will not lose too much if the market drops too far without you realizing it.
