http://ragheehorner.com/blog/?p=717 ...adventures and experiments in trading Tue, 31 Aug 2010 11:44:23 -0600 http://wordpress.org/?v=2.8.5 hourly 1 http://ragheehorner.com/blog/?p=717&cpage=1#comment-1410 Chartology » It’s all about trade/risk management Mon, 13 Jul 2009 17:14:47 +0000 http://ragheehorner.com/blog/?p=717#comment-1410 [...] The risk/reward ration here was determined by the 6137 entry to 6188 so that’s 51 pips of risk.  From the entry to the first support level is 6137 to 6105.  By stepping out in front of the “00″ there’s a better chance of getting a fill before the support at “00″.  But that’s only 32 pips, the second support level is also a psychological number and that’s the 6080 level which was also support during the 7am candle confirming…that level is 57 pips.  Problem is that the 6080 level is the second profit target.  This presents a problem for the validity if the trade for me.  Taking the trade with less than a 1:1 is too risky.  If you want to consider another approach to the trade, keep reading… [...] [...] The risk/reward ration here was determined by the 6137 entry to 6188 so that’s 51 pips of risk.  From the entry to the first support level is 6137 to 6105.  By stepping out in front of the “00″ there’s a better chance of getting a fill before the support at “00″.  But that’s only 32 pips, the second support level is also a psychological number and that’s the 6080 level which was also support during the 7am candle confirming…that level is 57 pips.  Problem is that the 6080 level is the second profit target.  This presents a problem for the validity if the trade for me.  Taking the trade with less than a 1:1 is too risky.  If you want to consider another approach to the trade, keep reading… [...]

]]>