This is The Definitive Guide to Setting Forex Targets | Learn How To Set Proper TP and SL. Trade execution can be done by any one but trade management needs experience to enable you to be able to come out with a profits. So on this video I teach on you how to set proper targets in Forex Trading.
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Fixed Reward:Risk Ratio
The simplest target technique is the fixed reward:risk ratio and the process is the following:
1) Measure the distance between the entry and the stop loss. In the example below, the distance is 7.25 points.
2) Multiply the stop distance by a factor of 1, 2, or 3 – depending on the target distance and the desired reward:risk ratio.
You see, it is a very simple technique to implement a consistent target strategy.
A high reward:risk ratio is not necessarily better and I talked about the trade-off between winrate and reward:risk ratio before. The greater the reward:risk ratio, the lower the winrate will be. Especially new and struggling traders are better off choosing a smaller target with a lower reward:risk ratio because it allows them to have a higher winrate and, thus, build confidence faster.
Recent support and resistance levels
A very popular target strategy utilizes the most recent support and resistance levels. Support and resistance levels are major obstacles for the price and it makes sense to choose your target so that the price does not have to push through a big support or resistance level because it will increase the likelihood of the price not making it to your target.
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⚠️ NOT FINANCIAL ADVICE DISCLAIMER:
We have done our best to ensure that the information provided here and the resources available for download are accurate and provide valuable information. Regardless of anything to the contrary, nothing available on or through this Website should be understood as a recommendation that you should not consult with a financial professional to address your particular information. The Company expressly recommends that you seek advice from a professional. *None of this is meant to be construed as investment advice, it’s for entertainment purposes only. The video is accurate as of the posting date but may not be accurate in the future.Everyone learns at their own pace , nothing in forex is guaranteed and past profits do not guarantee future profits. I am in no way giving you financial advice and any money you lose is 100% at your own power. Enjoy the education!!