Razor
Just wanted to make sure you didn't think I was having a pop at the trades you have taken. Wasn't the intention!
The good thing about trading TF's lower than dailies is that you get a tight entry (say 20-30 pips) so the market doesn't need to move much to give you 5:1 r/r. With an r/r like that, you can take lots of losses and still make a profit once the winners have been counted. With that in mind, taking all setups can be less stressful in some ways (by not making you agonise over the chart) so long as you can psychologically take the almost inevitable lower strike rate
As with all things, there are pros and cons. I thought I'd write it as it's pertinent to me at the moment as I'm trying to move down from dailies to the hourlies (for the richer rewards it can offer the right traders) and the question of taking more setups or fewer is one I'm working with. It is psychologically harder to be hit more, but with a high enough r/r it may be more profitable.
Still not sure which way I'll jump! Maybe will run 2 accounts with low stakes and see how they fare!
Just wanted to make sure you didn't think I was having a pop at the trades you have taken. Wasn't the intention!
The good thing about trading TF's lower than dailies is that you get a tight entry (say 20-30 pips) so the market doesn't need to move much to give you 5:1 r/r. With an r/r like that, you can take lots of losses and still make a profit once the winners have been counted. With that in mind, taking all setups can be less stressful in some ways (by not making you agonise over the chart) so long as you can psychologically take the almost inevitable lower strike rate
As with all things, there are pros and cons. I thought I'd write it as it's pertinent to me at the moment as I'm trying to move down from dailies to the hourlies (for the richer rewards it can offer the right traders) and the question of taking more setups or fewer is one I'm working with. It is psychologically harder to be hit more, but with a high enough r/r it may be more profitable.
Still not sure which way I'll jump! Maybe will run 2 accounts with low stakes and see how they fare!