DISCLAIMER: Trading Forex involves risk and you may lose more money than you started with! These posts are not to be taken as trade recommendations or financial advice and I offer NO guarantee that any of these ideas will result in profit. Also, trade ideas may change, depending on ever-changing market conditions. You are trading at your own risk and past performance is NOT indicative of future results. Please, know how much you are willing to risk on EVERY trade that you take and be SMART!
Simplify your trading. Always measure your risk and be okay with being wrong ; ) Wait patiently and get the price that you want. Use the market. Don't let the market use you.
So true bri take what you can get because it don't go to the target at time happen to me lots of time oh ama newbie
Simple_Renko
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@urbanlejend95, Thank you! Yes. When the market is giving you 6:1 on your second target, that's a very nice risk:reward, so we should take what's there! Another thing you can do is to have a third target that you will reserve for the home-run move... For me, I usually only have two targets with each half of the trade at 0.25% of my account balance which leaves me at 0.50% at risk on any trade I take. My 1st target it always at 3:1 and my second target is usually 5:1, but if I ever have a third target, that will mostly always be 10:1 or greater.
When you can spot those low-risk areas, it's much easier to hit those higher risk:reward areas because you are asking less of the market. Keep up te good work and thank you for following/commenting!