Well, if the risk is small, then the profit will consequently be the same.
Sorry for the late response
I trade forex
Since a pip is a 4th decimal number 2scnd on yen pairs
So Iāll change 8 to 9
My tp will be 0.7639
Sp 0.7636
Yes Iāll trade demo until I get all the basics right
Sometimes I ask myself how come someone with 0.03 lots
Make huge profit with this kind of lotsā¦
Yes it is. But maintain small risk for all time is not possible at all, because most of the time market moves at random and we canāt predict accurate risk ratio with certainly, problem is here.
Thank you guys for your support. I canāt call all of you by your names.
I now makes some good profit and maintain my losses.
@anon81929759 I trade less than 0.5 and I also trade when London opens and close my trade after the U.S market is opened when my profit are good.
I placed a trade EURJPY lot size 0.06 and I made 61.32 USD. I guess thatās boujee. Yes Iām a trader I sometimes make losses I admit when my guts tells me that I am wrong I close my trade.
I also opened another trade with 0.83 lot size I made 226.11usd. I guess Iāll reach my dream of buying myself an Mac laptop its coming to reality because sometimes using a smart phone itās a big limitation. I am not yet profitable trader but I guess Iām on the right track with babypips.
Very interested discussion, how to put stop loss and target profit, might different trader also have different risk on every plan trading, many expert said better take small risk in trades less than 5% from all capital, but not all trader like using stop loss, but will calculating risk with look amount capital and also lot size that will be used, especially long term trading plan some trader using martingale system or averaging system
Just to put the cat amongst the pigeons, Iām bound to say I donāt use take profit orders. Why would I want to get out of a position that is already say 100pts up and still rising? I would surely want to go to 120 then 140 then 200 etc. etc., and the chance to keep pyramiding as it goes.
And if you say, well, price isnāt trending and the chart pattern I used to get in predicts that the rise will end or hit resistance at +100pts - I would ask what the heck you are trading this rubbish chart for?
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hello Martin_K are you still there? am new here from Tanzania
Itās a good reply with nice logic , Thank you very much for that. Good luck