"Holy Grail" exists - accepting where is the first step.
{quote} ............................................ if you go lower than 50 you may want to reconsider either fit enough in this field, otherwise back to where the basic learning. as to maintain good entry need time, and some traders often fall in the long run. this where the risk reward ration takes part, besides fx trading never mean to be having an extremely accurately sharp entry. but it's more how much we've got when profit and how much we loss at losing trade, based on this line come the mighty myth Risk Reward Ratio. just my thought,...
because I dont need much, only 20 pips
thats why I dont use SL, I use mental stoploss (and I hope my mind still in its place when I must hit that SL button)
Hey, that out of topic
lets go back, I have one : Bulls make money, bears make money, but pigs got slaughtered
Maura Zaky Putri Fadhin
- Joined Oct 2010 | Status: Member | 167 Posts
{quote} agree with you bro...but it's still hard for me to choose between tight SL or wide TP, example : if I need only 20 pips per trade, than my SL should at -10 pips or even -7 pips, and since I dont have this " good entry time" dont you think I will hit my SL everytime? because I dont need much, only 20 pips
here's mine, seriously this is mine :
"we can never beat the market but we can always win the price"
this could be my tagline upon my website project fxindikator, i dare to put this on FF first.
back to your ouf off topic problem, i can barely defy and not answer to that. tight SL would result an overtrade, larger SL produce higher lost per trade. both are not suit as profitable manners. and i just try to keep up with tight SL and avoid to overtrade, use price action method it would takes time to get used, but it worth, trust me. you already in the right path, no need to put much SL on your trade, thats a good foundation. i keep the on research on entry which get along with low SL level ( below 20), guess what price action is the key one try on 30 minutes on major pairs. i've done with those part and settle with entry stop order entry type, but let me tell you one more thing, brokers factor also taking part into overal trading performance, so you dont have to conclude your trading system are bad upon consecutive SL hit. use several broker service at once, apply same method and you'll realize what i'm talking about. i've been done this for years and my last discovery are with armada markets, seem modest compare to my other account based on trading performance off course. while their only difference are at spread (not much differs i think), and the most thing affect my current strategy is their different in stop/limit levels, while AM platform set at 0 level other one at 2 pips, had another one set stop/limit levels given 5 pips, and for scalp method i see this essential factor based on my years observation test and research on different brokers trading condition.
- Joined Dec 2012 | Status: On Life's Path | 2,076 Posts
"Amateur traders focus on how much they can make. Professional traders focus on how much they can lose." fartist
