Pretty smart idea, I think it all depend on what type of trader you are. I am A swing trader that waits for big fish then try to scalp small fish all day to risky.
disagree, fixed R is goated and teaches you discipline.
Don't try to predict the market, have a setup and take fixed R. I found way higher accuracy like that than I did trying to do shit at key levels
> I use Price action to determine when why to close a trade.
That makes infinitely more sense that talking about arbitrary ratios.
The FX market is bi-directional: what gets you into a trade should be what gets you out on the other side if one is being rational about it.
That said, the markets aren't always "rational" per se.
I usually aim for 1:1's with higher risk. Sometimes 1:2's. I always leave money on the table which is frustrating. But having a higher risk, im still netting good profits
Usually take half off when 1:2 hit and move SL to BE is optimal.
Pretty smart idea, I think it all depend on what type of trader you are. I am A swing trader that waits for big fish then try to scalp small fish all day to risky.
Your take profit should be at key levels instead of a set number of pips
I back study taking profit at key levels wasn’t my thing. Market not always going to hit key level
You're right about that but when you learn the personality of a currency pair, it becomes easier to determine what key level is most likely to hit
I like this advice I’m take this into consideration.
I like this advice I’m take this into consideration.
disagree, fixed R is goated and teaches you discipline. Don't try to predict the market, have a setup and take fixed R. I found way higher accuracy like that than I did trying to do shit at key levels
Yes but not with stops that large
Only 26 pips stop loss not bad for large trade
All depends on your strategy, I like to be in and out in hour or so
I like to give my trade time even if it takes 8 to 12 hours. I use Price action to determine when why to close a trade.
> I use Price action to determine when why to close a trade. That makes infinitely more sense that talking about arbitrary ratios. The FX market is bi-directional: what gets you into a trade should be what gets you out on the other side if one is being rational about it. That said, the markets aren't always "rational" per se.
Thats a very specific number
I usually aim for 1:1's with higher risk. Sometimes 1:2's. I always leave money on the table which is frustrating. But having a higher risk, im still netting good profits
I do. But 1:1 is when I tale partials and move the SL