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Ok walter, been sitting here digesting what you have so far. Just wondering since you are only shooting for a small number of pips each day, wouldnt there be less risk to having a trade go against you during non volital times.(eventhough thats no garantee) If your only going after a small piece everyday you would have to be right a very high % of the time.And will you be placing stops when you open a trade? |
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Ok, I have to make something clear here, dont want to get misunderstood...
The RRR of the overall sistem should be a minimum of 1:1.5 now, when I say I want to make 5 pips per day, sometimes that means I probably made +25 -20 on a hard day....ok ? or made +10 -5 on a medium day... or made +5 right away on an easy day...
So I dont say I am going for 5 pips on a
trade... I am saying I go for 5 pips in the
universe of this entire day... be it the easy or the hard way...
I dont know if you can grasp the concept... but it is concept that once you understand it you will feel very light on the pressure you have for your targets...
IF there is momentum I will stay inside even +30 pips... absolutely, but the fact that just about everyday there are movements of 30 pips will not make my trading plan aim to make 30 pips per day, because that would be unrealistic...
Having very small targets for the day its a nice way to be more selective about wich trades you take... if you aim too much you will most probably overtrade in the anxiety of getting your super daily target...
So daily targets its NOT sinounimos of trade target... cheers Walter.