The Authority’ on Price Action Trading. In 2016, Nial won the Million Dollar Risk reward calculator mt4 forex Competition. Forex trading obviously requires a high degree of discipline, most all traders know this, whether risk reward calculator mt4 forex or pro.
However, knowing is different from doing, and while most all traders know they should be more disciplined, it often ends up being something they think they can put off until they make X amount of money. Trying to rationalize in your head not being disciplined is one of the biggest mistakes that almost all traders make at some point. The problem with thinking you can put off being a disciplined trader until XYZ happens is fairly obvious, yet most traders continue to do it. The Authority’ on Price Action Trading. In 2016, Nial won the Million Dollar Trader Competition. If you do know how to use it, then this lesson will be a good refresher and reference guide to the power of RR and how to make use of it on your charts.
You have to make the tool yourself by changing the properties on the Fibonacci tool, which I will show you exactly how to do shortly. RR targets based on stop loss distance. 1:2 it means you have a potential 2R reward on the trade, or the reward is 2 times what you have risked. The RR tool helps you see if a trade makes sense to take. You overlay the tool on the setup you’re considering, measure the stop distance and then find the potential reward levels on the charts.