Mastering market analysis techniques to win in trading!! Scattore Futano's Technical Dojo | Episode 4 [Thinking about Entries] ① About Risk-Reward
He became a full-time trader after riding the day-trading boom in stocks, but retired once after a big loss due to the subprime loan crisis. He then discovered FX, spent two years trading part-time, and by the third year became a full-time trader.
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※This article is a reproduction and editing of an article from FX Strategies.com November 2020 issue. Please note that the market information written in the text may differ from the current market conditions.
It is important to consider risk-reward ratio in advance!
Once you can test charts and indicators, next is to think about entries and exits. First, you must consider: “Where should I enter?” and “Where should I exit?” Some may wonder, “Why do I need to think about entries and exits?” but the market is not forgiving enough to rely solely on gut feel or intuition for entries and exits and continue to win.
A common mistake for beginner traders is aiming for a 100% win rate. Not everyone, but achieving a 100% win rate in trading is almost impossible. Generally, aiming for a win rate of about 60–70% is a good approach.
