Hey folks it’s Chris here. I’ve been trading for about 4 months now. I’ve read a few books but i’m trying to expand my knowledgebase as I try to employ a profitable strategy. Things I think I’ve learned about Forex so far:
Risk Management is the key to being successful.
Emotions are a traders kryptonite
Believe what you see
Patience is important
Greed will get you killed (figuratively speaking)
You dont need to win more trades than you lose to be profitable
Kudos Chris! Wishing you well. Welcome!
Risk : Reward ratio (rrr) of
10 : 1 is easier to attain than 2 : 1
2 : 1 is easier to attain than 1 : 1
1 : 1 is easier to attain than 1 : 3
1 : 3 is easier to attain than 1 : 10
For (rrr) 10 : 1, winrate of 91% is required to break even
For (rrr) 2 : 1, winrate of 67% is required to break even
For (rrr) 1 : 3, winrate of 26% is required t o break even
For (rrr) 1 : 10, winrate of 9% is required to break even
Although, a winrate of only 26% is required to breakeven for rrr of 1 : 3 . It is way much harder to achieve than rrr of 1 : 1 . To say that we can obtain rrr of 1 : 3 is akin to saying that we can predict the market like a fortune teller. Furthermore, if winrate of less than 50% is required to trade forex, why don’t we all just go to the casino, i think we have better odds playing baccarat.
To say that,
“You dont need to win more trades than you lose to be profitable”
Think again . . .
By that yardstick I must be omniscient. 
I have to say that this is in direct contradiction to my own understanding of risk reward ratio (though it is my preference to describe it as a reward/risk ratio by taking the reciprocal measurement).
And to prove that point, I am running a trade journal where the expected reward risk ratio is 11+ : 1 (or in your terms 1:9). I am doing that specifically at an allocated cost of £1.8K only to prove a point to myself. That I am so convinced of the validity of the backtested results over five years that I am willing to risk £1.8K for a calculated gain of £6K with a 4% chance of account blowout. And I am tracking it on this forum. I have a 95% expectation that the results will remain within the parameters predicted by 10,000 iterations of a Monte Carlo analysis. If I am wrong I am prepared to spend even more money to find out why by seeking professional statistical advice. I am doing this because of the potential future reward, which is a thousand times the risk. I may end up in the poor house, but it will have been a hell of a journey to find out. 
I’m not saying taking Long Shot like rrr 1 : 3 not possible. Time consuming i would say. With our mortal lifespan, is it WORTHWHILE pursuing?
I very much choose to remain a cheapskate intraday scalper taking cheapshot trade and aim to see the money everyday.
“Aspirations differ from person to person,
Each to his own”
Nobody’s arguing aspirations. The debate is about 1:3 RR.
So will caution !
.
