Help with risk and reward
Forex is all about risk and reward business. It does not means when you take risk you will certainly get reward. For reward you have to do certain steps that will manage you account , your right entry in market and sensible trading will bring reward for you. We can deal with risk not eliminate it from trading.
Hi
Always maintain 1:2 RR , this will help you becomes successful even if the trading system has only 50% win ration, Do google search on moneymanagement/ risk management in forex, you get lot of good stuff, Moneymangement is the key to become successful trader.
All the best!!
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Hello
I’m very new to trading I been trading for about 4 months and I’m still trading paper money because I’m not ready to go live. Mainly I trade the morning (8am to 12pm EST) and I trade forex and futures and my goals are small 25 pips a day or 5 points in NQ or 20 in YM. I have a trade plan and my rules for entry and exit. At the beginning I was over trading and that was the main problem. Right now I’m having a problem with RISK and REWARD. I can’t find a good balance. Right now my losers are bigger then winners for an example I have good weeks that I make 100 pips in a week and then I have bad week that I lost 140 pips in a week.
And planning to read the school area one more time just to make sure I didn’t miss any thing.
And I wondering if anyone went thought something similar and maybe give me some tips how to overcome it and also are my goals achievable?
Thank you for any help