Last week trades offered dozens of opportunity to take. My system was like my personal ATM if I didn't get greedy. 8 ticks, 10 ticks, 15 ticks. If failed, just wait another signal. I'll give u example at Bank Holiday. It's still possible gaining 10-30 ticks per trade. Easy money...
On Chart there're -10,-10,+35...if continued there'll be +22,+19,-10.
So with the RR ratio 2:1 on Bank holiday, the profit may -10,-10,+20,+20. That's 20ticks already. Discipline and Patience is virtue.
Trading is surely an easy money field for those who mastered it. It become financial doom for those who dunno. Another easy money mindset planted in my mind :) so far so good...
I personally believe (but it's only my belief and my opinion it doesn't have to be the truth) that it's far more easy and beneficial to go for RR ratio of close to 1:1 when trading forex on smaller time frames and with small R. On occasions it's easy to see while you are already in the trade that you can get more then 1R and then go for it. But from the start look for 1R, not more, and be happy with it. Only when you see how trade developed when you approached near to your 1R decide will you wait for more or not.
ReplyDeleteThere are a lot's of fake moves, fake starts that give 10 pips and that's it, this way you get paid on them. When move is really strong and sound go for more.
Hi FX,
ReplyDeleteTq for coming. Good idea. U're right bout fake and fade. I saw it too, 10-15 pips flying around like blowing leaves. Let's see if there's much choppiness in the market then ur advice will work like a charm :)