Trading is a serious business and to do as you suggested is not taking it seriously. Winning trades are at least 2x the risk (ie 10pips SL to make 20pips profit) in order to make a reasonable living. That would be "Holy Grail" for most traders if they could do it consistently.
What I told is that 7/10 means nothing at all if the rest is not applied
The 70% winning ratio stuff is a usual scammers vocabulary that are doing the "trade 100 accounts and one will reach that percentage that I will then use as an example". Ignoring that the wining percentages actually mean very little in overall trading is far, far from being serious. And thinking just about % is a very dangerous thing to do
PS: with 10 to 20 pips stop loss and take profit you are not going to get 7/10 (this time I am omitting the spread on purpose, even though the spread will make the % even worse in that 10 to 20 game)
How would you measure consistency and hence know if it is worth using any system. Surely if you can repeat the same thing over and over again with a measured outcome is the goal. Anyway I did say "at least 2x" but experienced traders will go for 3x or better.
Doesn't the "xN" depend mainly on the size of the order?
Price only moves so much in a day, week or month and hence only select suitable targets depending on your trading outlook i.e day trading or swing trading methods. xN is therefore not dependent on size of order but how far the projection of price for the chosen period vs risk. Setting a sensible risk level is also key to profitable trading - try to look for setups after visible stop hunt has place.
The Grail exists,
Pava has it
sometimes we forget that to be successful in the market "we only really have to be good at one thing"
especially as some of price action is just noise and actually increases risk
everyone should at least find that one thing and then exploit it, the rest is just a bonus
the Grail does exist (sort of)
but to find it requires lateral thinking and often as Mr pip outlined in post one,
although there are many Grails, and usually everyone's is different
don't give up looking as you never know when you might dig it up
but whether the brokers will allow you to keep the Grail and not steal it back, that's another matter and possibly for a different thread
Seems a misunderstanding :
1st position = 1 lot 20 pips stop
2nd position = 2 lots 20 pips stop
the risk of the second is 2 times higher than the first however you calculate. With big enough lot size, those 20 pips can wipe out the account
Trading always carry the risk of losing your cash and hence you must have a reasonable good idea of market direction when placing trades. Also it would be better to start with position 1- 2 lots and position 2 - 1 lot. This could end up being a long discussion about trading styles but you must not trade in ways not to compromise your position.
Now you lost me
That type of MM I an not aware of. I am the old style type : risk is for me what I can lose depending on the lot size and stop loss setting for a position. Anyway, trade well
its a secret.