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Federal Open Market Committee maintained federal funds rate at 0. Speculative trading with currencies and CFDs carries a high degree of risk to capital. You may loss the whole deposit for short run. You should not start up trading with real money if you do not have a possibility to loose it.
Before depositing funds consider carefully your financial knowledge and appetite for risk. The Authority’ on Price Action Trading. In 2016, Nial won the Million Dollar Trader Competition. In order to first demonstrate and prove the power of risk reward, I decided to randomly enter 20 trades over the last 2 weeks in the EURUSD, GBPUSD, and AUDUSD on a demo account. No price action setups were used, nor was there any method or strategy of any kind implemented when entering the market.
While this experiment was meant to prove the power of risk reward, it was also meant to prove the power of price action trading strategies combined with risk reward. My results showed a small profit after entering randomly 20 times with a risk reward of 1 to 2 on every trade, this after having lost 12 out of 20 trades. What is the lesson to learn here? While the trade history above certainly proves the true power of risk reward, we have to ask ourselves how much better we could do by applying a true edge in the market, like the edge we get from trading price action setups.
2 times your risk on your winning trades, you will likely breakeven or turn a small profit over a series of trades. 1 to 2, and walk away until the trade is closed. The key is to not get discouraged if you hit a few losers or become over-confident if you hit a few winners. What if you lose on the first 8 trades out of 20? I lost on 9 trades in a row before hitting a series of winners? Obtaining the proper training is the key. When you combine my price action setups with a thorough knowledge of risk reward implementation and a mastery of trading plain vanilla price charts, you will begin to think like a professional trader.
My trading course and price action trader’s community gives you the insight you need to become a successful discretionary price action trader, the experience is something you must develop on your own from the tools and education that I provide. When you combine the price action and risk reward strategies that I teach with a healthy dose of self-discipline and trading experience, there is virtually nothing that can stand in your way except your own lack of self-control. Why Do Most Forex Traders Lose Money? I DON’T USE REWARD CONCEPT IN MY TRADING. I JUST COUNT ONLY MY RISK ON PER TRADE.
BECAUSE NOBODY CAN PREDICT HOW MUCH PROFIT MARKET IS GOING TO GIVE US ON ANY ONE TRADE. This is a really really good article. I no longer keep checking the charts and fidget over trades, it is quite a freedom! Its something brilliant to finally realize you only need a small bag of medium-large wins each year to succeed at trading. It feels great to be able to wait for the next month and not worry if the setups will be there, because I know they will eventually. Yes, given that the average trader loses and accepting that this strategy may not guarantee a win in the long run, it’s significant that by using an entirely random entry, you get a higher success rate than the average trader. I think that the amount of trades done doesn’t really provide any insight as to random entry with certain risk parameters I’ve done tests exceeding 1000 trades like this and found that money management in itself provides absolutely no edge.