5min supply and demand it’s strictly for scalping usually risk ratio it’s 1:1 if you want consistency but personally I’m not comfortable with 1:1 risk ratio . I trade with confluence of the Higher timeframe objective but my entries are big problem I don’t mind to go to drawdown as long isn’t massive . Any recommendations for books about psychology it’s seem you’re bit experienced trader.
you may want to re-think this, Katie? no professional scalper i’ve ever known, in decades of trading, has ever had an R:R anywhere near 1:1!
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Dolye exchange he does hit 1:1 also I’ve been backtesting try to collect some data to know my best performing setups.
Maybe my 2 cents worth of advice is that backtesting is very profitable in any strategy. Hindsight is always simple because it does not factor in the most important aspect of the game. MINDSET a.k.a PSYCOLOGY. Come to think of it, if your M5 supply and demand strategy is that profitable in backtesting, why then are you still struggling? Aren’t you supposed to be making it rain right now?..Psycology ruined it all for you.
This may solve your problem if you are disciplined enough to follow your plan (PSYCHOLOGY yet again). Since you experience servere drawdown, maybe its time you consider “stop pending orders” i.e buy and sell stops. They somehow give instant gratification when your entry is triggered.
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Judging by the charts you provided, the entry points are not ideal to be honest.
With such entries it’s difficult to set proper stop loss, and stop loss is crucial if you get the direction right but can’t handle the pressure of floating P/L.
Honestly, entry is like the least important aspect of trading,
But anyway… if you tell us more about your entry strategy and stop loss placement, maybe we can help you with that
Heavy drawndown is normally bad news,and means your stop is too far away. It’s always better to close the loosing trades early, and look for a new opportunity.
Also this can mean that you are trading based on FOMO, and you enter too soon. You must have patience, and wait for an Optimal entry price. If It runs without you, It runs! Who cares? Just wait for the Next trade
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unfortunately, however many times you, i and a few other members keep pointing out this reality, a high proportion of people who “don’t want it to be true” are still just going to imagine and pretend that it isn’t true (needless to say they’re sadly among the majority of traders who never actually achieve steady profitability)
but i’ll keep saying it, if you do, because the more often people see it, the more likely a small handful of them are to give it some thought! 