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Riskreward

Make profitable trading decisionsHi 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
Education
by Wayne_G
1
EURGBP - Great R/R TRADE OPPORTUNITY!!!EURGBP - Great R/R TRADE OPPORTUNITY!!! This pair did my head in yesterday, nearly get stopped out but I was disciplined and the patience paid off this morning waking up to green screen! That's the best feeling but everyday isn't like that. Don't get your emotions get to you whilst trading, I actually learnt this the hard way and I'm still working on that but you are who you bring to the market, there are great psychology books to help with this - if you are struggling message me privately I will be sure to give you trading reading list. I got in at the lows of the formation, scaled in - Took 60% of partial profits got two more long positions in. Technical aspects: Pattern: Wedge Support: 0.88240, 0.88100, 0.87960 Resistance: 0.88380, 0.88520, 0.88780, 0.89100 Fundamental aspects: BoE TODAY - Focus on negative rates - I don't personally think they will go towards negative rates, vaccine roll out is positive, no further QE is really needed. Don't forget to enter this trade idea, add your own trading plan towards it. Add further confluence. Key tip: Be humble - There are so many ways to trade out there, but most important is if your way of trading is gaining capital - Keep Doing You! Have a great Thursday!! Trade Journal (Just a trade idea, not a recommendation)
by Trade_Journal
1
AUDUSD - Trade Idea - FOR TODAY!AUDUSD - Quick Trade Idea! Technical aspect: Pattern: Wedge Support: 0.76085, 0.76050, 0.75920, 0.75880 Resistance: 0.76180, 0.76265, 0.76325, 0.76420, 0.76595 Break above key resistance zone and trendline down - Bullish momentum Break below to key support area, perhaps a candle close - Bearish momentum Key tip: You can copy all you want, but you will always be one step behind! That's the harsh reality - Remember this is just a trade idea, add your own trading plan to the idea add further confluence. Trade Journal (Just a trade idea, not a recommendation)
by Trade_Journal
Trade Alert: XRPI usually don't do crypto, but now that I've done what I believe is enough research and watched crypto's crazy market I am IN. That being said : XRP High reward, not without some risk of course. XRP has buying support, its good news that with SEC news this hasn't went down the drain, still we are above .22 and I really do believe XRP will come out with a "W" on this SEC case.. My advice add a small position and any good news hits keep adding to position, also if no news BUT XRP hits positive trend I boxed in chart then add to position. As always pay good attention as crypto tends to move FAST. *Indicators and Tools used* -Zig Zag -Pivots -Vol -MACD -Super Trend V1.0 -Trend Line -Triangle -Date and Price Range *Please like if you find this post useful*
COINBASE:XRPUSDLong
by BeardedSince
2
USDCAD Post-FOMC/Oil ReportsThe Canadian Dollar had a really strong year against the US dollar correlating nicely with the DXY. After FOMC reports however, the Dollar continues to dig itself out of the hole it was in late 2020 and pairs with the dollar as the dominant, such as FX:USDCAD , have started to experience some upward momentum that I expect to continue for the next few days as North American Oil availability appears grim likely hiking the rate per barrel, ultimately pushing down the value of North and South American currencies (exception of the USD, I'll get to that). With this in mind, a safe entry is created on USDCAD as there is some relatively tight downside protection/cushion with this information in the market. The devaluation (dare I say inflation) of the US dollar is what makes this trade possible. If it wouldn't of been as prepared for the worse, prior to FOMC and bad oil news, the DXY would most likely have continued to see a downfall. However, the perfect storm of a declining stock market, "less economic scarring", and the decline in Bitcoin, maybe the Dollar has found its floor? Maybe not, but for the next month or two I will look to retain this bias.
Long
by crawfordpaul