HI, i am after advice really on if anyone here uses the prophetic strategy EA, i have a 50% success rate with it, tried it with equal pip tp and stop loss but it had a 30% success rate then, so i upped the stop loss so spikes didnt knock it out of trades and got it up to 50% success, but the tp is at say 50 pips and stop loss at 70 pips so its losing more than it makes, i only use it on major currency pairs at night as i dont want it altering my stop losses on my trades, thank you in advance, Adrian.
You want to look at your risk reward ratio and expectancy. Over the long term, your losses will eat away at your account balance if your win rate is 50% and capped at 50 pips.
You want to risk at least as much as what you’d potential earn, but you’re not even there. You need bigger winners.
Have a read:
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Agreed.The risk reward is all over the place from what you say and with that strike rate as well you’re onto a loser as it stands
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thank you for your replies, trouble is im not a experienced trader only a beginner, so learning all the time, what i remember the bots risk rate is 1, does that sound about right?