Take AUDNZD as valid signal for long entry today
The ADR (10) is 84 pips
Set a Stop Loss for 42 pips and Take Profit for 84 pips (or vice versa depends on your trading strategy)
The factor for ADR for Stop Loss is 0.5 and the factor for Take Profit is 1.0
This gives Risk / Reward of 1 : 2
Every pair has a different ADR so using a set of numbers like 50 SL and 100 TP is not logical - I'm sure Spock would agree
For instance, EURGBP is 58 pips and GBPAUD is 233, you may never reach 100 TP with EURGBP and yet miss out on pips with GBPAUD
What are you thoughts? Does that make any sense? Have any better ideas, let's hear them
If you trade like me, you'll be homeless and broke within a week.
Goldilocks All Time Return:
27.1%