Thanks Strat. Really glad you just said that. A new tick goes in the box towards my understanding of everything.
My initial risk is seen as my investment cost for the trade. As you've said, i'm prepared to lose that from the off (personally been risking 1% until most recently where I move to .3% due to confidence knock)
I guess at the end of the year I could look back on my trades, and my system and if successful subscribe an R:R to it, but until that point it does seem rather silly. Certainly it has to be a backward looking reflection on a system, not a rule to the actual system.
You definitely know where i'm "at" presently. I'll get there in the end!
Thanks.
My initial risk is seen as my investment cost for the trade. As you've said, i'm prepared to lose that from the off (personally been risking 1% until most recently where I move to .3% due to confidence knock)
I guess at the end of the year I could look back on my trades, and my system and if successful subscribe an R:R to it, but until that point it does seem rather silly. Certainly it has to be a backward looking reflection on a system, not a rule to the actual system.
You definitely know where i'm "at" presently. I'll get there in the end!
Thanks.
DislikedStuart,
You are talking common sense which many "so called traders" have little of or don't know how to deal with. They get so wrapped up in their "trading world" they forget to apply or even think common sense.
What you have stated here are facts which no-one can dispute. If you go back and read some of my answers and posts, you will see I say the same things.
I personally don't use R/R - if I did, I would probably never take a trade.
I do start out with risk no more than 2% of my account.
Cutting your losses - it's part of my plan...Ignored
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