Hi Fellow Traders
The greatest tool in your arsenal is your Risk/ Reward rules when evaluating the potential expencency and outcome of each scenario. By using this to protect your account it may help you to survive long enough to be profitable.
Risk/ reward is quite simple. If I risk $1 on a trade, I need to make on average $1.50 to be profitable. In other words, my risk is 1 and my reward 1.5, therefore it is a 1:1.5 risk/ reward ratio, which is acceptable to potentially enter a trade if it meets your criteria.
You want to try an average between 1:1.3 and 1:1.7 when looking for trade opportunities.
The Risk/ reward tool on Tradeview is excellent for evaluating and getting a proper picture of the potential upside and downside before making a decision.
I hope you enjoy the video and that I have been able to contribute to your potential success as a trader.
Please feel free to comment and reach out if you help.
Regards
Wayne_G
The greatest tool in your arsenal is your Risk/ Reward rules when evaluating the potential expencency and outcome of each scenario. By using this to protect your account it may help you to survive long enough to be profitable.
Risk/ reward is quite simple. If I risk $1 on a trade, I need to make on average $1.50 to be profitable. In other words, my risk is 1 and my reward 1.5, therefore it is a 1:1.5 risk/ reward ratio, which is acceptable to potentially enter a trade if it meets your criteria.
You want to try an average between 1:1.3 and 1:1.7 when looking for trade opportunities.
The Risk/ reward tool on Tradeview is excellent for evaluating and getting a proper picture of the potential upside and downside before making a decision.
I hope you enjoy the video and that I have been able to contribute to your potential success as a trader.
Please feel free to comment and reach out if you help.
Regards
Wayne_G
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면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.