One thing I've never been real comfortable with is the idea of a risk reward ratio. The idea that if you want to earn 20 pips, you should only risk say 10.

I'm not sure how to quite explain this.. If I toss a coin and it comes up heads 50 times in a row, how many people would bet on heads? We all know mathematically that there is an even chance of tails, but there is still the gut instinct yelling "heads, heads!"

If I put a trade on and it is a winner, what does it matter how far away the stop was? If my stop gets hit it is because that is the point that I've decided I should be out of the market, not some arbitrary figure that is a percentage of my target.

... the semi lucid ravings of someone needing sleep

I'm not sure how to quite explain this.. If I toss a coin and it comes up heads 50 times in a row, how many people would bet on heads? We all know mathematically that there is an even chance of tails, but there is still the gut instinct yelling "heads, heads!"

If I put a trade on and it is a winner, what does it matter how far away the stop was? If my stop gets hit it is because that is the point that I've decided I should be out of the market, not some arbitrary figure that is a percentage of my target.

... the semi lucid ravings of someone needing sleep