{"id":218782,"date":"2023-06-02T16:41:35","date_gmt":"2023-06-02T15:41:35","guid":{"rendered":"https:\/\/www.forexmentorpro.com\/blog\/?p=218782"},"modified":"2023-06-12T16:54:45","modified_gmt":"2023-06-12T15:54:45","slug":"traders-1st-priority-dont-lose","status":"publish","type":"post","link":"https:\/\/www.forexmentorpro.com\/blog\/traders-1st-priority-dont-lose\/","title":{"rendered":"Traders 1st Priority? Don’t Lose"},"content":{"rendered":"

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.<\/p>\n

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!<\/p>\n

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.<\/p>\n

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?<\/p>\n

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As I explained in the forum on Tuesday just after the live session:<\/p>\n

Traders 1st Priority? Don’t Lose<\/h2>\n

\"Traders<\/p>\n

SO what happened next and why?<\/p>\n

Traders 1st Priority? Don’t Lose<\/h3>\n