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hey kevv, wild....sure some ppl are a tad stressed right now. By "entry level", i mean the basic download, they keep prompting me to download the standard version of ninja. Time and sales is there, just doesnt fill...i will do some more digging, thanks
Can you help answer these questions from other members on NexusFi?
@kevv..........winner, winner chicken dinner!! remembered the color coded link deal right after i posted....thanks again! now if i can just figure out how to interpret the info....
Yes that's a good idea.
Mas do work.
But I doubt indicators.
However, do remember to take note of your Risk:reward ratio in your trades if you want to be consistently profitable.
Make sure that your R:R is at least 1:3 before you take a trade.
If not, ignore that trade.
Nasdin, hes just starting to baby feed me probability stuff...I am starting to become increasingly aware that when it involves real cash u cant just fly by the seat of your pants. Maybe with 500k in the account u can take more chances and get away with it. Again, appreciate the input...murf
@Nasdin94, I dont understand your post...I was agreeing with you re: risk/reward when i mentioned probability. How in the world do determine your ratios? Do they simply evolve from your trade history or is there a formula? thanks, murf
For what it's worth, I believe that charts are a help on more wiggly markets. The more intra-day swings a market puts in, the more useful a chart is in my opinion.
Just be aware that R:R is only potential risk & potential reward.
Let's say you have a 9 point target & 3 point stop. After entry, the market moves 8 points your way. Do you then let it go back & hit your 3 point stop? I'd hope not.
When you look at R:R + % win rate, it's theoretical.
When you actually trade, it's a little more fuzzy than that. There are full wins, full losses and a bunch of other stuff in the middle.
Personally, I don't use R:R at all for the above reasons. If I have a good premise for a trade, I will go with it. When it's no longer good, I will cut it.
There's a good section in the "No BS Daytrading" book. It's along the lines of "Skill will get you into a position, luck dictates how far it runs".