[quote=GJP;4023067]
Hi GJP,
USD/CHF has hit the psychologically important 1.0000 level - it could prove to be a turning point in the trend so I will be watching carefully what unfolds over the next few days.
I think what you are saying is that you use a risk to reward ratio of 1:2 (your reward being double your risk) which is fair, but it does limit your winners. Personally I like to remain in a trade for as long as possible. This limits your risk and maximizes your profits!
Regards,
Dan
DislikedVery good idea MrCBee! I do have a couple of long term trades open - I'll start off with a couple of easy trades (as of this moment they are)...
USD/CHF (H4) +260 pips
USD/JPY (Daily) +820 pips
AUD/USD (Daily) +880 pips
Regards,
Dan
I also took the USD/CHF on the D1 based on a pinbar entry. At present I am using T/P (take profit targets) of minimum 2-1 of the distance between my entry and my S/L. I placed my S/L at break even after I had gained 200 pips. There has been some retracement today, but it is heading...Ignored
USD/CHF has hit the psychologically important 1.0000 level - it could prove to be a turning point in the trend so I will be watching carefully what unfolds over the next few days.
I think what you are saying is that you use a risk to reward ratio of 1:2 (your reward being double your risk) which is fair, but it does limit your winners. Personally I like to remain in a trade for as long as possible. This limits your risk and maximizes your profits!
Regards,
Dan