Hey guys I have been trading for about a month now using candlesticks and Support & Resistance. I have a couple of questions.
1. I am losing nearly half my trades. I have read on the board that you need a 90% win ratio or at least 80% and some people actually acheiveing this? But on the other hand, professionals traders only win 40-60% of the time. Am I on track or do I need to increase my winning trades and how?
2. My average risk:reward ratio is 2:1. Is this too low? If i increase it, it filters out allot of trades.
3. I know a month of trading is nothing, and this is only DEMO. How much can I expect to carry over to real trading? I am thinking about trading for 2 more months before actually going live.
Something thats been scaring me is that I am actually in profit for 4 weeks while usually after the first couple of trades I will blow my whole account. Lucky month? A Fluke?
1. I am losing nearly half my trades. I have read on the board that you need a 90% win ratio or at least 80% and some people actually acheiveing this? But on the other hand, professionals traders only win 40-60% of the time. Am I on track or do I need to increase my winning trades and how?
2. My average risk:reward ratio is 2:1. Is this too low? If i increase it, it filters out allot of trades.
3. I know a month of trading is nothing, and this is only DEMO. How much can I expect to carry over to real trading? I am thinking about trading for 2 more months before actually going live.
Something thats been scaring me is that I am actually in profit for 4 weeks while usually after the first couple of trades I will blow my whole account. Lucky month? A Fluke?