"Try to aim for R:R 1:1, then with a win rate above 50%, you're profitable"?
"Try to aim for R:R 1:2, then with a win rate above 33%, you're profitable"?
(Excluding dealing costs, natch ...).
Why is trading so difficult?
- Thread starter padutrader
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"Try to aim for R:R 1:1, then with a win rate above 50%, you're profitable"?
"Try to aim for R:R 1:2, then with a win rate above 33%, you're profitable"?
(Excluding dealing costs, natch ...).
Hello Xela,
Thanks for correcting this for me. We can not forget about the cost to do business.
yes but they ask for some small amount up front.....like 300 usd....that is huge by our standards my maid monthly salary is 20 usd....500 usd is my monthly pension..a driver's salary is around 300 usd per month....
i do not want to sound ungrateful...but i know all of that.
unfortunately, i am looking a little deeper, at how market moves.
Brooks said that when a trendline break happens, on the downside, look to sell on the upside,as the market tests the trendline, which it has earlier broken..
and if a trendline break happens on the upside, look to buy the 'low', as the market tests the trendline, it has earlier broken
this is very effective but is not easily seen on the chart: it has taken me ten years to draw these lines on the chart.
This is how the market moves by testing highs and then testing lows, so Brooks is a genius
it has taken me ten years to figure how to do this practically
so if you understand this, you will buy low sell high.
if you do not understand, what i am saying, then you will understand, why i did not understand Brooks, when he said the same thing, in his book.
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traderGOD,
Lets do some work here on the chart so atleast I can try and help you
Can you please give me an example of your trade with picture?
Look at this chart below.
1. Do you see a clear support level and trendline where the blue line is? Are you waiting for this trendline to break and retest the trendline to enter a trade?
2. Are you having a problem knowing when to take profits with your trades?
Attachments
i use one min M1 there are lot more options for trend lines it is important to use them to measure something...rather than in the classical way...i use them to measure the strength of a move i get fairly good entries and targets..these are not static-neither the entries or exits- but dependent on the movement of the market:drawing of extra tendlines which depict the strength of the move in a very precise and graphic way;has been working for me
see chart
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i used this method yesterday and this is my daily statement and today's history for an hour 0f trading:quite happy with it
as you can see drawing trendlines such as the ones in the yellow box shows clearly that the down move is losing strength.this is far better than any indicator since it gives precise entries
traderGOD,
Good example.
A few questions to see where you struggle at:
1. After you buy in that example, where would you take profit and why? Since you state that your problem is holding for bigger wins. How do you know what that works?
2. Is your problem with Entry and Deciding when to exit trade?
I guess I am confused on where your real problem is.
For instance for me. When i enter, I know where my profit target is, where my stop loss is, when to cancel the trade. I know everything about that trade setup.
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