My SL=100, TP=30, on H1 time frame on all currencies pair, do you think it's ok? - Forex Questions and Answers - FXAnswer

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My SL=100, TP=30, on H1 time frame on all currencies pair, do you think it's ok?

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- thegreeks
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1 year ago

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0 Votes thats not very good win/risk ratio by certicex 1 year ago by certicex 1 year ago
0 Votes Maybe you should review your entry for better SL points. In your current ratio, your winning ratio have to more than 75% to be profitable in a long run. Quite hard to achieve for new traders I think. Note you are using H1 time frame which is ok for 100 pips SL I think . But it is a good decision if you adjust your strategy since that time frame have a potential to gain more than 100 pips in a single trade depending what pair you trade. For your comparison, I often trade on 15min TF and if I have to put my SL 100 pips, I put my TP more than 150 pips. I never put it under 100 pips TP on that condition. If my analysis said the potential profit will be less than 100 pips, I wont take the trade unless the SL can be lower also. by Harold 1 year ago by Harold 1 year ago
0 Votes Your reward to risk ratio is 1:3. I would definitely advise against this because you only have to loose once to wipe out your three wins. Reward to risk ratio should be 2:1.at least. by RPT 1 year ago by RPT 1 year ago
0 Votes We cannot judge the stop loss and target price without looking into the trading strategy and the market condition and time. We have to look at the trade plan a comprehensive package and consider all external and internal factors before deciding the appropriate stop loss and target price. by Kingpin 1 year ago by Kingpin 1 year ago
0 Votes If you have 90% accuracy with your system, why not. It is important to have high percentage of accuracy as your risk to reward ratio is high. Remember that a number of losses can wipe out your gains, so use be sure that your system can give you higher percentage of success. by fxpie 1 year ago by fxpie 1 year ago
0 Votes yes its ok by Dave 1 year ago by Dave 1 year ago

Votes

thats not very good win/risk ratio

certicex

1 year ago

Votes

Maybe you should review your entry for better SL points. In your current ratio, your winning ratio have to more than 75% to be profitable in a long run. Quite hard to achieve for new traders I think. Note you are using H1 time frame which is ok for 100 pips SL I think . But it is a good decision if you adjust your strategy since that time frame have a potential to gain more than 100 pips in a single trade depending what pair you trade.

For your comparison, I often trade on 15min TF and if I have to put my SL 100 pips, I put my TP more than 150 pips. I never put it under 100 pips TP on that condition. If my analysis said the potential profit will be less than 100 pips, I wont take the trade unless the SL can be lower also.

Harold

1 year ago

Votes

Your reward to risk ratio is 1:3. I would definitely advise against this because you only have to loose once to wipe out your three wins. Reward to risk ratio should be 2:1.at least.

RPT

1 year ago

Votes

We cannot judge the stop loss and target price without looking into the trading strategy and the market condition and time.

We have to look at the trade plan a comprehensive package and consider all external and internal factors before deciding the appropriate stop loss and target price.

Kingpin

1 year ago

Votes

If you have 90% accuracy with your system, why not. It is important to have high percentage of accuracy as your risk to reward ratio is high. Remember that a number of losses can wipe out your gains, so use be sure that your system can give you higher percentage of success.

fxpie

1 year ago

Votes

yes its ok

Dave

1 year ago

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