Hi there,is it fine to put in 1:1 risk on patterns like triangle or live them because most the time its what I find with them?
Traders should not follow what some say to be hard and fast rules about trading - such as never accept r:r less than 1:2 or 1:3 etc. If you are consistently getting wins from whatever patterns you use, 1:1 is acceptable.
setting R:R with fixed ratio is called blind trading.
one should determine the SL & TP before entering any trade. this way you will be able to choose the entry point, know if it’s worth the risk & the R:R on the particular trade.
I would increase my reward ratio to maybe 1:4 . In any case, I think having a higher reward than loss makes more sense for long term prospects.
Actually the reverse is statistically the case in real life trading - long-term trades have lower r:r than short-term trades.
But the point is that a low r:r is not a risk or a mistake - as long as you know the consistent win rate.
r:r of 1:1 (with a win rate of 60%) is better than r:r of 1:4 (if the win rate is only 20%).
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Great advice thanks