I trade bounces at S/R but until now, had always used a minimum of 1:2 risk/reward. This resulted in a low win rate of 36%. This was still very profitable with a profit factor 1.23 which is a little more than the edge a casino has. It was quite easy for me to have 5 or more losers in a row so I kept the risk down to 0.25 per trade. That was the psychological sweet spot that enabled me to trade the system most effectively. I rejected using 1:1 until I read Chicky's logic and decided to put it to the test. The results speak for themselves. I got a better than 60% win rate just like Chicky said and I achieved a 23% account return in the last two weeks with a full 1% risk per trade.
Its early days but this has more than doubled my usual profitability. I never would have considered widening my stop, and increasing my risk to equal my reward if it had not been for this thread. Its like the final piece to my puzzle which has taken over six years to complete.
I am giving credit where it is due and thanking Chicky for sharing the results of his years of hard work which I obtained a huge benefit from.
Here is a screen shot of the explorer of the last two weeks and a copy of my stats of a 968 trade sample from myfxbook last year. The important stats I have highlighted in the red box.
Its early days but this has more than doubled my usual profitability. I never would have considered widening my stop, and increasing my risk to equal my reward if it had not been for this thread. Its like the final piece to my puzzle which has taken over six years to complete.
I am giving credit where it is due and thanking Chicky for sharing the results of his years of hard work which I obtained a huge benefit from.
Here is a screen shot of the explorer of the last two weeks and a copy of my stats of a 968 trade sample from myfxbook last year. The important stats I have highlighted in the red box.
Attached Image(s) (click to enlarge)
BTC Return This Year:
na
