Hi
I might have a lopsided risk reward ratio I am not trading a live account yet but i have traded an oanda demo account for about three months. I have traded stocks for three years and have spent many hours learning .I usually set a stop loss of 7 percent or higher depending on the volitility of the stock price and always trade with the least line of resistance (overall market trend) and i of course would in most cases take a higher profit.
With the forex market I have been setting a stoploss of 100 pips and a take profit of 15,20,25,30, or even 40 pips depending on which pairs i am trading I have a system where all of my trades are based on breaks of resistance and support on a crucial time frame that has really blown me away as far as results. I have traded this system for about 1 month with about 20 trades 1 of my trades hit the 100 pip stop loss 16 trades hit my target and 3 or so trades i manually closed out due to the expiration of the system i use. Unfortunately i do not no of a single stock trader or a single forex trader personally. So i am excited to finally join a forum. Not here though to brag about my system because when i open my live account things probably won't be the same as i have came up with systems in the past that have not held up. Bottom line i just think its weird that risk reward in the stock market can be so different than the forex market because i would never set a stoploss more than what i expect to profit.
Just wondering if an oanda practice account or other brokers practice accounts have any flaws that don't match the real market. I am having a hard time really believing that my system works. I set my all my orders before i go to bed and wake up 5 to 10 percent richer every morning on average using 20 to 1 leverage an not always using my full margin power. I do believe ignorance is bliss as i have only been trading forex for a few months but with a general idea on how to trade. obviously i have made only abot 20 trades so i do expect things to go south. Any how if any body can answer my question it would be highly appreciated.
I might have a lopsided risk reward ratio I am not trading a live account yet but i have traded an oanda demo account for about three months. I have traded stocks for three years and have spent many hours learning .I usually set a stop loss of 7 percent or higher depending on the volitility of the stock price and always trade with the least line of resistance (overall market trend) and i of course would in most cases take a higher profit.
With the forex market I have been setting a stoploss of 100 pips and a take profit of 15,20,25,30, or even 40 pips depending on which pairs i am trading I have a system where all of my trades are based on breaks of resistance and support on a crucial time frame that has really blown me away as far as results. I have traded this system for about 1 month with about 20 trades 1 of my trades hit the 100 pip stop loss 16 trades hit my target and 3 or so trades i manually closed out due to the expiration of the system i use. Unfortunately i do not no of a single stock trader or a single forex trader personally. So i am excited to finally join a forum. Not here though to brag about my system because when i open my live account things probably won't be the same as i have came up with systems in the past that have not held up. Bottom line i just think its weird that risk reward in the stock market can be so different than the forex market because i would never set a stoploss more than what i expect to profit.
Just wondering if an oanda practice account or other brokers practice accounts have any flaws that don't match the real market. I am having a hard time really believing that my system works. I set my all my orders before i go to bed and wake up 5 to 10 percent richer every morning on average using 20 to 1 leverage an not always using my full margin power. I do believe ignorance is bliss as i have only been trading forex for a few months but with a general idea on how to trade. obviously i have made only abot 20 trades so i do expect things to go south. Any how if any body can answer my question it would be highly appreciated.
My trades are 100% profitable 65% of the time!
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