It is difficult to make a profit as long as trading skills are not developed. If you want to make a profit consistently, you have to give up emotions and follow money management. And 1: 2 risk rewards must be maintained and traded. Must do regular meditation.
sailingconsist posted: Tremblay, a 1:1 risk reward ratio is also fine sometimes particularly for beginners since they’ll be risking the same amount as the potential gain.
Same amount of winning and losing trades is no doubt better than losing the money entirely. While with a 3:1 ratio, you might lose two trades and win one, but shall still make profits. It’s all about the strategies you use.
kendrglover posted: Yes, confidence is the key to achieving your goals and making some money in forex.
When a trader makes a consistent profit, he becomes overconfident. Overconfident should be eliminated by controlling emotions at that moment. And trading plans should be made with confidence. It is possible to trade professionally.