Saturday, November 7, 2009

Daily risk and reward.

I'm risking 20 pips every day and hope to get 30 to 40 for my target, it's a nice goal but hard to get there. In most of my trade, after I get in I will have stop and target at the same time, and I will move my stop only when it moves in my favorite.
Not like most of the forex trading web site, this blog is not about picking entry and finding signal. It's about risk control and where my stop/target.
I believe most of the move in forex market is 50/50, and I also believe the support/resistance theory, so when you have some profit, book it and let the rest run.
The reason I need a stop in place is, It keeps you in the market and continue to trade, I don't have to be sitting there and watch others making the move in the market while all my cash are in deep water. The path to success is build up with large number of solid hit, not a single home run. I will post my capital curve once a week/month.

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