The concept of risk/reward is rooted in the idea of prediction. You can't have one without the other. However, one could use volatility to define a target such as when a wide range bar forms while in a trade. In this case, you can't predict ahead of time if you'll get a wide range bar. If you manage your trades based on momentum or volatility then you don't need to bother with the risk/reward equation.
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I bot MTP and have yet to find a way to make it profitable. Some others have success they say but not me. I have hundreds of pictures of great trades, so that is a worthless exercise....There is a guy from Indy Warehouse that swears by it and is conducting a 3 day intense workshop, starting next week, free, on the software, obviously in hopes u will buy it. I also like the R/R calcs but only wish they'd enhance the programming to a point where multiple time frame analysis was automatic or assisted in the decisions. I got the impression MTP doesn't want to fully invest in the potential of the software, as certain bugs/difficulties in display are still apparent. This is a key area I need to work harder at seeing if I can make it work for me. Never found an indy yet that would go with it to improve the reliability, and I've tried many. Now that I've invested in it, I'll never stop looking for a way to make it work for me. Any/all advice is appreciated.
start by drawing waves on history charts goal is to train your eye to recognize them, next draw the beginning then wait for the target reached goal is to built your believe in your drawing. You can only trade your own believe not someone else's.
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