Update from my earlier post šŸ˜Š

Patience is the key

Logan said:
Patience is the key

very correct

I donā€™t 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

Ode said:

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 :thinking:

Cade said:

Ode said:
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 :thinking:

Isnā€™t it interesting?

Cade said:

Ode said:
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 :thinking:

Iā€™m not entirely sure why I do it to be honest. If you have any tips, I would appreciate it.

@Ode
Let me try:

  1. 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.

  2. 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 canā€™t trade 2 lots but will have to adjust it. You can use the Babypips tool ā€œlot size calculatorā€. Give it a try to understand better.

  3. 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 youā€™ve analyzed the price action.

  4. Maybe itā€™ll be better to understand all this stuff in demo before putting the money in the game.

Put the SL where the price canā€™t get to.

Blake said:
Put the SL where the price canā€™t get to.

Is this a joke?

Keep your head focused and donā€™t take loss or win personally. Donā€™t become too happy or too sad after the trading hits your TP or SL.