I've been developing a higher risk reward method these past few days. I had 2 large losers which skews my current R:R statistic, but I've been overall pleased with the results.
I am 45.70% successful on my trades. I've been trading 2 shares per trade on 1 minute chart movements. My average win is $0.79 and my average loss is -$0.91. However if I ignore those two losses, my average loss would be -$0.16, making my R:R ratio 4.9375.
I'm going to continue trading this way throughout the end of the year. If I'm still >40% successful with a >3 R:R ratio, I will start trading 100 share sizes.
I am 45.70% successful on my trades. I've been trading 2 shares per trade on 1 minute chart movements. My average win is $0.79 and my average loss is -$0.91. However if I ignore those two losses, my average loss would be -$0.16, making my R:R ratio 4.9375.
I'm going to continue trading this way throughout the end of the year. If I'm still >40% successful with a >3 R:R ratio, I will start trading 100 share sizes.
This week, I had 15 winning trades and 16 losses. My average winning trade was for $0.95 profit and my average losing trade was for $0.50, making my R:R ratio 1.9. I had one trade that was a loss of $5.40 due to technical difficulties within my platform (clearing firm went offline). If only that trade was nulled, I would have been 50% at a 5.6 R:R ratio this week. Monday, I lost $1.50. Tuesday I made $0.33. Wednesday I made $3.13. Yesterday I made $0.40. Today I made $2.59. Keep in mind I am only trading 2 share sizes. This week would have been $247.50 for a 100 share size trader or $2,475 for a 1,000 share size trader.
