Patience is the key
I donāt know whether to laugh or cry, price action can be a b*tch at times
Why was your stop loss there?
Kim said:
Why was your stop loss there?
1:2 Risk reward
My man, the RR is set based on the stop loss. It is the TP that is movedā¦not the SL
1:2 Risk reward
My man, the RR is set based on the stop loss. It is the TP that is movedā¦not the SL
Isnāt it interesting?
1:2 Risk reward
My man, the RR is set based on the stop loss. It is the TP that is movedā¦not the SL
Iām not entirely sure why I do it to be honest. If you have any tips, I would appreciate it.
@Ode
Let me try:
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Set your risk. 1/2/3/4% or whatever you want of your capital. If you have 10k and want to risk 100$ per trade, that is your stop loss.
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Set your lot size to have that stop loss based on the number of pips. If you want to have a 100$ stop and you want to put it 100 pips above, you canāt trade 2 lots but will have to adjust it. You can use the Babypips tool ālot size calculatorā. Give it a try to understand better.
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Only now can you set your take profit. My suggestion is to have a flexible RR because if you want a 1:2 but the price action is not good for it, consider the 1:1. Or maybe there is space for the price to reach 1:3. So set it once youāve analyzed the price action.
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Maybe itāll be better to understand all this stuff in demo before putting the money in the game.
Put the SL where the price canāt get to.
Keep your head focused and donāt take loss or win personally. Donāt become too happy or too sad after the trading hits your TP or SL.