don't to be provocative or anything but seriously...
If we put together the "rules/guidelines".. that the RISK:REWARD should be 1:1 at MAXIMUM... so at TP20.... MAX SL20.. as some say here and what seems to be the guidelines provided/advised by many... And if we than ADD that TP20 is NOTHING, "very achievable" as some say... Then my question is:
If you would enter the trades only when you are almost absolutely sure of TP20 (with SL20)... will/would be hit (take profit)... How many of those kind of trades would you be able to make in a row, in a year? So if you would select the ICE-WINE HARVEST, DRY BERRY SELECTION... How many?
Just to give you a BALLPARK..
- at 500:1 that would give you 90% return or x1,90 per trade (let's negate the spread now)
To get you through this SL20... aka "turning radius" of 20PIPs... you would need a broker with 10% margin/stop.... to not get closed BEFORE...
let's say you put 10k USD deposit... 18 trades AFTER... BILLION DOLLARS
10k USD deposit... 29 (TP20, SL20) trades AFTER... A TRILLION DOLLARS
Even if you can get 10 those trade in a row and have only 100USD...
You would still 60k USD out! So that means FACTOR 600x on deposit...
If you would dare to put 1k USD in...
you would have 600k USD out... some could even retire (with basic expenses) with this kind of money..
The purpose of this THREAD is this:
- Mental reminder why some strategies can not work as they claim... else we would have a trillionaire already (yeah at some level you would have to change games, from broker to broker, bank, intrabank etc... but you get the idea.. also at some level you would influence the market... so even helping the trade/trend/s (momentum) etc..
- Showing why TP20 is A LOT (in a row)... and why (famous) RISK:REWARD 1:1 "rule" might be limiting your trades/profits...
- Also, please POST your TP20, SL20 trades... so that we could see how many can you make... if possible, describe your level of certainty BEFORE...
- Maybe we could SELECT ICE-WINE DRY BERRIES and COMBINE the ULTIMATE group tradelist :
I haven't played with 500:1 a lot, specially not in a row... But I would say that I could get around 5 those kind of trades in a ROW, per year... also judging by past trades... So around 5times a year I am VERY sure that the market would go TP20 before it would hit SL20...
How many times in a row DID you make like this and how many times in a row, per year, do you think you could make if you would select only the most "certain" trades or if you would just do TRIAL AND ERROR (if this method... could profits outweigh your loses at trials?)