Disliked{quote} Once upon a time, I was thinking like you until one day.... I discovered R and R-Multiple. R=50pips, 10Rs = 500pips R=100pips, 5Rs = 500pips R=500pips, 1R =500pips How many Rs do you think you can consistently make in 20-trading days over a 3 years period?Ignored
Sweet, i never thought about that option, i just read an article about risk/reward.
My plan so far was to use a take profit based on the average/max move of the specific currency pairs, and a stop loss approximately half as big as the take profit.
And a risk of 5% of the account, but not always exactly 5%, it is "stepping" up whenever it is possible to use exactly 5% (for example: starting with 100$, risking 5$ per trade, until i earned 200$, then i use exactly 5% again, wich would be 10$ until i reach 300$, and so on)
I feel very comfortable with that risk, but i am not sure if it is a good idea to use fixed stop losses and take profits, does anybody do it that way?
I recall eelfranz was not even using stop losses or take profits, any experience with that method? Sounds interesting