{quote} Thanks my friend for reply. Because everyone will think it in a different way. Please show in image of chart so everyone can understand your point.
This is just an illustration to answer your question base on scalping.
x.
- #81
- May 5, 2024 9:07pm May 5, 2024 9:07pm
- Joined Oct 2010 | Status: Trader | 2,033 Posts
This is just an illustration to answer your question base on scalping.
x.
{quote} Sorry for being late. This is just an illustration to answer your question base on scalping. x. {image}
My Friend Good morning
How are you.
Risk is previous candle high.
Profit we took is 30% of the risk.
It means
R R 1 : 0.30
We are going to risk 3.3% times more than reward.
If we win 7 trades out of 10 trades.
7 X 0.30 = 2.1% win
3 loss x 1% = 3%
3% loss -2.1% win = - 0.90% loss and commission for all 10 trades.
----------------------------------------------------------------------------
R R 1 : 0.50
We are going to risk 2% times more than reward.
If we win 7 trades out of 10 trades.
7 X 0.50 = 3.5% win
3 loss x 1% = 3%
3% loss -3.5% win = +0.50% profit and commission for all 10 trades.
We will end up Breakeven or in loss.
------------------------------------------------------------------------------
We need to use simple Math
We should never risk more than Reward
at least R R 1 : 1
if we have 70% ++ win rate
if we have 50% win rate than we should have R R 1 : 2
if we have 30% win rate than we should have R R 1 : 3
than no matter what we will make profits.
trading is 100% numbers and numbers are Math.
Use Math in trading not random guess.
I was guessing like other all strategies are guiding us to do.
If this than that or not than this. These are Guessing.
I think market is going to go up and I buy than than result we all know.
Trading is not for a physical feeling of intense excitement and stimulation caused by the release of adrenaline from the adrenal glands.
Trading is for us and for our family to make money and give them best life they deserve.
Stop Guessing and playing for a physical feeling of intense excitement and stimulation caused by the release of adrenaline.
- #83
- May 5, 2024 9:32pm May 5, 2024 9:32pm
- Joined Oct 2010 | Status: Trader | 2,033 Posts
{quote} My Friend Good morning How are you. Risk is previous candle high. Profit we took is 30% of the risk. It means R R 1 : 0.30 We are going to risk 3.3% times more than reward. If we win 7 trades out of 10 trades. 7 X 0.30 = 2.1% win 3 loss x 1% = 3% 3% loss -2.1% win = - 0.90% loss and commission for all 10 trades. ---------------------------------------------------------------------------- R R 1 : 0.50 We are going to risk 2% times more than reward. If we win 7 trades out of 10 trades. 7 X 0.50 = 3.5% win 3 loss x 1% = 3% 3% loss -3.5% win...
. This is the main part make us lose confrol.x.
- #84
- May 5, 2024 9:34pm May 5, 2024 9:34pm
- Joined Oct 2020 | Status: couldn't give a flying duck | 7,377 Posts
- #85
- May 5, 2024 9:35pm May 5, 2024 9:35pm
- Joined Oct 2020 | Status: couldn't give a flying duck | 7,377 Posts
- #86
- May 5, 2024 9:36pm May 5, 2024 9:36pm
- Joined Oct 2020 | Status: couldn't give a flying duck | 7,377 Posts
{quote} The release of is sure dangerous
I have 100 USD
I risk 1USD is 1% is still I feel ok and do not feel it is risky.
If I use 10 USD think you can feel immediately Mind tense and feel like Frozen. that movement we do mistake and if we win we feel excited and adrenaline.
Stay calm and trade safe, Trading is alone 1 game which you do not want to loose and you can not end this game.
Even you win 100 times or 1000 times you still have to play and earn money.
- #88
- May 5, 2024 9:39pm May 5, 2024 9:39pm
- Joined Oct 2020 | Status: couldn't give a flying duck | 7,377 Posts
{quote} I have 100 USD I risk 1USD is 1% is still I feel ok and do not feel it is risky. If I use 10 USD think you can feel immediately Mind tense and feel like Frozen. that movement we do mistake and if we win we feel excited and adrenaline. Stay calm and trade safe, Trading is alone 1 game which you do not want to loose and you can not end this game. Even you win 100 times or 1000 times you still have to play and earn money.
- #89
- May 5, 2024 9:42pm May 5, 2024 9:42pm
- Joined Oct 2010 | Status: Trader | 2,033 Posts
{quote} I have 100 USD I risk 1USD is 1% is still I feel ok and do not feel it is risky. If I use 10 USD think you can feel immediately Mind tense and feel like Frozen. that movement we do mistake and if we win we feel excited and adrenaline. Stay calm and trade safe, Trading is alone 1 game which you do not want to loose and you can not end this game. Even you win 100 times or 1000 times you still have to play and earn money.
It is very important to control losses.
But it is no less important to manage wins.
All of this is centered on our emotions.
x.
- #90
- May 5, 2024 9:42pm May 5, 2024 9:42pm
- Joined Oct 2020 | Status: couldn't give a flying duck | 7,377 Posts
{quote} try scaling your positions. break your 1$ in to 5 x 20cent pieces, that way if your 1st position is lets say minus 20pips and you still like the trade then you add another fifth..... then its easy to add the rest once you are on the right side of the move
Not everyone can handle this system of averaging.
I prefer to cut my loss.
Wait for right opportunity and trade again.
- #93
- May 5, 2024 9:55pm May 5, 2024 9:55pm
- Joined Oct 2020 | Status: couldn't give a flying duck | 7,377 Posts
{image} I love profits. I am addicted to Profits.
- #94
- May 6, 2024 12:30am May 6, 2024 12:30am
- Joined Oct 2020 | Status: couldn't give a flying duck | 7,377 Posts
{quote} My friend I ask target level. Target makes profits. Closing and opening in 0 and 1 candle will only gives loss of commission and 1 of my EA have a bug coded by a coder in 2018 EA was opening trade on Candle close and next candle open it close trade loss was commission on each trade In 3 hours EA open so many trades commission eat all profits. I lost in 3 hours 18K ++ Than i add in my EA if X% loss in any condition stop EA trading until i reset trading.
When considering setting a target with a high probability (over 90%) its more logical to set targets at key levels of support and resistance, such as previous highs or lows, or Fibonacci retracement levels (e.g., 38.2%, 50%, 61.8%).
Use measuring techniques like the "rule of thumb" or "price action" to estimate the potential move. For example, if a bullish candlestick pattern forms at a support level, the target could be the next resistance level or a 1:1 or 1:2 risk-reward ratio.
Here's an example of a target setup with a high probability:
Entry: Buy on a bullish engulfing pattern at a support level
Target: Set the target at the next resistance level (e.g., previous high) or a 1:2 risk-reward ratio (e.g., 2x the risk).
SL: Set a stop-loss below the recent low or a key support level.
However Keep in mind that no trading strategy can guarantee a 90% probability of success. Always monitor market conditions and adjust your strategy accordingly. Cheers!. Waiting for you knowledgeable comments
Kind Regards, TT
Example
R R
0.10% risk and profit 1% in Prop account, This system will allow to make 10% within week.
1% risk and Profit 10% in personal account.
This step will change the game.
about your Questions above.
