Risk is always there with a forex trader like a shadow. You can’t have trades without taking the risk, I keep 5% risk to reward ratio on each trade with keeping in mind stop losses.
I think using fixed R multiples for your target will reduce your winning trades largely and you will be stuck at the break-even stage of a trader’s life cycle. I went through this myself personally. The first stage of a losing trader is where you have poor entries, poor exits, and poor risk management. The second stage is where you have good entries, you have good risk management (cutting losses quick, which reduces chances of blowing accounts), however, you are not allowing your winners to run by using fixed R multiples in this stage and this won’t allow you to capitalize on the full move when you catch a winning trade. So, when a winning trade does come around, it ends up only making up for your losses and thus, making you a break-even trader. This is what I went through personally as I used to target a fixed R of 3 and most of the time after a trading month I am just breaking even.
Now, I don’t use fixed R multiples for my target and I place my targets at the next supply or demand zone and this can range anywhere from 1R to 20++R. Anything above 1R is worth enough to be taken and I have seen good improvements in my trading results since then. Although my win rate is not great, my huge winning trades cover for the losing trades and gives me profit on top of that.
I think I agree with this.
In my learning process, the first time I heard RR to be at least 1:2, I thought to myself, "what if it doesn’t get to 2, would you not take your profit and leave 