sodiumcan
Short

AUDUSD SHORT (MDT)

FX:AUDUSD   Australian Dollar/U.S. Dollar
59 6 0
But just look at this scenario: had your stops been reasonably placed above the recent top of 0.7937, you would be still in the game with some pips on your side. But of course I understand your approach too. For me the tight stops never really worked though....
Reply
sodiumcan PipsHunter
Which also gives me a risk reward of lower than 1.14.
snapshot
This is what it wouldve looked like if i had set a stop at the top there. I have a lot of trades with this setup and I can tell you its roughly a 50% win rate so far. if I were to set stops similar to the one you suggested, my average risk reward would be 1.5. Usually for these trades I risk roughly 5% of my portfolio. This gives me a risk of ruin of 13.82% using this calcuator http://2ndskiesforex.com/risk-of-ruin-calculator/. That goes far beyond my tolerances. I prefer setups with a risk of ruin close to 0%. Setting stops higher would increase my win rate, but the goal isn't to be right; its to make money. Thats why I like my stops tight; it puts the math in my favor so im more likely to make money than to lose it
Reply
i see, that is an interesting approach:)
Reply
sodiumcan PipsHunter
Lol, the reason why my stops are tight is because I try to set my entries on breakout lvls. If it fails I dont lose much but if it works out, my wins usually cover my losses and then some
Reply
Your stop is very tight.
Reply
sodiumcan PipsHunter
I like my stops like how I like pussy. Tight
Reply
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out