Hi,
I hope everyone is having a good trading day so far.
My reason for starting this thread today is to start a discusion on Take profits and stoplosses or 'Risk to Reward Ratio'.
As the name Implies this is how much you are risking (x) to make (y).
Now, I, as I kno most other people are taught when first coming in to trading, Is that risk should be less than reward and even 1:1 R:R is basically 'stupid'.
I remember reading a couple of weeks ago a thread where one of the 1krt members said that he had never seen a system with over 70% success rate that had tigher SL than TP in all his years of trading. And im taking it by the way it was worded that these 70% systems were F**King good.
Like most things in life or forex, there is a catch 22, double edged sword or such...... By having this tighter SL than TP you are, in turn, futher putting the odds against yourself of THAT trade being successfull.
I have no doubt atall that this works, Im just interested in see'ing how things look on the other side of the fence, If there is anyone in the forum who has traded this way (1:1 and even more risked for reward) or has some sensible contribution or opinion I would be very interested to hear from you.
Leon
I hope everyone is having a good trading day so far.
My reason for starting this thread today is to start a discusion on Take profits and stoplosses or 'Risk to Reward Ratio'.
As the name Implies this is how much you are risking (x) to make (y).
Now, I, as I kno most other people are taught when first coming in to trading, Is that risk should be less than reward and even 1:1 R:R is basically 'stupid'.
I remember reading a couple of weeks ago a thread where one of the 1krt members said that he had never seen a system with over 70% success rate that had tigher SL than TP in all his years of trading. And im taking it by the way it was worded that these 70% systems were F**King good.
Like most things in life or forex, there is a catch 22, double edged sword or such...... By having this tighter SL than TP you are, in turn, futher putting the odds against yourself of THAT trade being successfull.
I have no doubt atall that this works, Im just interested in see'ing how things look on the other side of the fence, If there is anyone in the forum who has traded this way (1:1 and even more risked for reward) or has some sensible contribution or opinion I would be very interested to hear from you.
Leon
Living the adventure in my head.