would you put stop loss for 70pips but take profit is only 25pips ?
would you take this risk ?
only if my track record shows that I have a big win percentage! if my the amount of wins can compensate for the losses I may incur, why not.
if the win percentage is 80% and need take time 1 or 2 days ?
if your backtesting shows that system can consistently win 80% over a long period of time, i think that kind of reward-to-risk ratio acceptable. although i must admit, i don’t know anyone who ends up positive with such a low reward-to-risk ratio!
actually the possible pips thats can win is 50 -70pips, but for safety i will put 25pips to earn for it.
if mt4 can set two different tp and sl, i might set different pivot for it.
Dude, be smart about it.
You have a 95 pip swing there.
I’m not going to draw you a picture, but there’s a MUCH better way to approach your situation.
Just look at the numbers you posted. 70 risked to win 25. Don’t you see a better way to manage that?
if trade 100 time, 80 is win, 20 is lose. if calculate buy 1 lots.
80X250=$20000
20X700=$14000
still earn $7000
if you want to risk 100,000 units, then just split that into two positions. one position could have like 50K units with 25 pip, whiel the other has a 70 pip pt. problem solved.
how many pips you put for your tp and sl ?
Depends on the setup. I don’t use “hard numbers” like 20/30/40. I look at technical levels, look at my potential risk/reward, think where I will put my pt/sl, and adjust my lot size.
what technic are you using ? indicator ?
I use fibonacci lines, support and resistance levels, RSI, and Stochastic.
This is a hint.
Out of 100 trades, we know you get stopped out 20.
Out of the remaining 80, how close does it usually get to the stop before going your direction?
Think hard…
do you have msn, got some question ask you.
Ask here. But I’m not embarrassed. I’m 6’2" tall, 195 pounds. Brown hair, green eyes. I like walks on the beach, and an occasional Lionel Richie song. Rainy days are nice, and so are candlelit dinners.
Wait… You mean about forex?
Ask here. I don’t use MSN.
you are humor.
mostly how you know trend is up or down ?
I look at the chart. A downward slant is most likely a downtrend, and an upwards slant is most likely an uptrend.
Don’t decide those movements based on a one minute chart though.
Take a step back, and look at the 4 hour, daily, or weekly. They’ll give you better biasing
So then, whats your issue with that? If you make profit consistently, use it. There is no singular right way to trade. Everything what makes money in the long run without too much risk is the way to go.
It can work, only if you have a very high win percentage. You need 95% i’d say to be really safe and secure. If you ever lose two trades in a row, your nerves will be jelly
This thread is a year and a half old… I’m fairly certain the OP will not be reading these responses