nice and steady trading, Joseph. Keep up the good work
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MHD Signals by Joseph
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Today I got some losing trades. The EURUSD and USDJPY showed some tendencies to breakout on a minor timeframe and I tried to capitalize I that but unfortunately these trades ended in a loss. Total loss today capped below 1%. Generally, on these setups I'm willing to risk but only with a sound mathematical risk/reward ratio.
I just want to clearify my approach risk and reward :
Perfect trades cannot exist. A perfect trade has a high probability of a big reward while risking very little. All trades are a combination of probability and risk/reward. If one side gets good probability, the other side gets good risk/reward. For a trade to take place, there has to be a reason for both the buyer and seller to trade. Therefore, a trade that is perfectly good for one side is perfectly bad for the other. No one would take a perfectly bad trade. This is one where there is a low probability of a profit, and the profit is tiny compared to the risk.
Thus, when trading pay attention to probability and control your greed and fear.
Last edited by MHDtrader; 05-30-2017, 07:54 PM.
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