Hi,
I would really like to understand if risk reward concept is practical for intraday traders.
I find that very frequently my stop loss is getting triggered since for intraday I look for very small profit like 0.5%,0.7% and so on.Now in this scenario my target is not that wide and with risk reward concept my stop loss too is very near to my entry price which might be the reason my stop loss is getting triggered every time.
Before using risk reward concept my stop loss was little deeper and profit the same as mentioned above and eventually I use to achieve my target more than 70% of the time.But with risk reward concept iam not able to achieve my earlier accuracy.
I really would like to know that should I be persistent with this risk reward concept (I mostly use 1:2) for intraday . Is it really possible to maintain risk reward concept for intraday traders?
Brgds
Sajin