Traders 1st Priority? Don’t Lose: We all want to win, all of the time, which is human nature. However, the fact is that you can be a successful trader if you lose 60% of the time, as long as you get the risk-reward right.

As you know I am looking for trades with a bare minimum potential to make at least twice my risk. In other words for every $100 I risk, the trade has to have the potential to make at least $200. If, like me you can find trades that can make, 3,4,5,6, even 10 times the risk then you do not need many winners to be profitable!

Another important “tweak” that will improve your results significantly is to reduce the risk on open trades once they move into profit. I show in today’s short video how that panned out for the recent 400 pip win on the $Yen.

This week I was long the Euro/$. It was a perfect M2 set up and I will take it 95% of the time. I got in and it moved 60 pips in my favour. In retrospect, I should have taken some profit from it, but as I had already made a month’s target and I felt there was the possibility of it going further, I simply moved the stop to entry + a few pips. Why?

 

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As I explained in the forum on Tuesday just after the live session:

Traders 1st Priority? Don’t Lose

Traders 1st Priority? Don't Lose

SO what happened next and why?

Traders 1st Priority? Don’t Lose