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Yep but you are sure to win or lose, setting unrealistic or far away TP/SL would lower win rate or even add up, depending on strategy and other factors.
As the title says, I created this simple formula to set the TP (Target Profit) And SL (Stoploss) using the very little common sense I had.
I'm open to the suggestions and would appreciate them.
Here's the formula or framework you say,
Use the 50% of the 1% of the price of the security.
This...
What's your core strategy? I see that 90% of traders lose money or more then that, and the common pattern in this traders is that they do the same thing repeatedly. If you are using price action or indicators to trade but couldn't make it from them then they aren't really for you.
Technical...
I don't trade fx but I have been keeping my eye on, mostly on gold. I'm more of a scalper but don't mind holding my winners. What do you trade and for how long? There are many traders who made big with stocks but they mostly are swing traders.
I don't trade fx but I have been keeping my eye on, mostly on gold. I'm more of a scalper but don't mind holding my winners. What do you trade and for how long? There are many traders who made big with stocks but they mostly are swing traders.
Stocks are slow and steady with limited opportunities, they drains my energy. Fx are so better than stocks with way more opportunities and volatility. What's your strategy if may I ask?
What's the biggest challenge you guys faced with day trading? Mine was with my mindset, I used to struggle with my mindset and with FOMO but the good thing now is that I had been doing better and now less care about trades.