Hi Rick and Sharks
Cheers guys. I know 0.5% doesn't sound like much but its soon adds up. Now that I have a couple of tradeable setups that work for me, I'm starting to work on my trade management. Currently I'm allowing myself 2 initial trades. I'm risking 1% and aiming for a minimum RR of 1:1.5. If they're both losers (-2%) or 1 winner and 1 loser (+0.5%) then no more trades for the session. If I somehow manage 2 winners (+3%) then I will take another opportunity if it arises but will stop when I get my first loser (capital preservation!) So now I know my worst case scenario for the week would be -10%, (win rate 0% ,unlikely but possible!) But if I can manage 50% win rate then I'm up 2.5% for the week ( once again unlikely but possible HaHa!)
I'll keep posting some of my set ups and result but if they get to boring or repetitive then let me know!
Cheers
Nick
Here's a couple from tonight
- Forums
- Forex
- Trading Target Candles
Hi Rick and SharksCheers guys. I know 0.5% doesn't sound like...
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