Starting from yesterday, you can see that my TP is only 25 pips. Why? Because 25 pips is easier to reach. The problem is it increase the risk-reward ratio. If I have to put SL for 75 pips, then it is 3:1 risk-reward ratio. In other word, one bad day can wipe out my 3 days profits. Another problem is TP 25 pips doesn't reach my daily target (30 pips). Actually, the pair can move for 100 pips whenever a certain direction is broken.Well lets forget about how GBP/JPY can move for this week at least. Instead, I trade two more pairs: EUR/JPY and AUD/JPY with same TP for each pair which is 25 pips. Those pairs move in the same direction and if you sum 25 pips from 3 pairs you get 75 PIPS! Second problem solved but again it increase the risk-reward ratio..
So I will see if this strategy works. Wish me luck!
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment