Watchlist Webinar for April 21, 2010
Here’s the link to today’s WLW archive. (If IE isn’t working to open the archive, use Firefox it works every time.)
The E/J and the U/CAD that we talked about will be my primary focus for today.
What is your primary focus for today?
I like that we’re getting some discussions going on here. Thanks, that makes it fun. 
Be good to you!
Triffany
——-
Watchlist Webinars are free to members and happen on Mondays and Wednesdays at 8am EDT. You can register to attend using the link in the blog category “Training” that says “[name of month]’s wlw link”. Once you’re registered, you’ll receive reminders for the month from Citrix. Once a new month begins you’ll have to register for the new room using the same link in the “Training” of the blog.
There are also free webinars at FX Street (www.fxstreet.com) on Tuesdays at 12:00 (noon) EDT.
Triffany Hammond helps traders of all levels, gain the tools, resources and guidance necessary to build on their strengths and work around their weaknesses so that they can make the best possible decisions for themselves in the Forex Market. Triffany is a regular speaker and contributor at 
CADJPY Triggered, but has a bad R:R. Did any of you take it?
Thank you Triffany,
Felix
You’re very welcome!
hi everyone, Just took a 2shorts on the GU, this was after the bearish engulfing candle on the 4hrs early european session, plus the bear candle had a tail which is a sign of rejection to go higher for me. shorts are at 1.54280 and 1.5400 stops are at 1.553, 1st profit target 1.533 then 1.5298.. is this a good R:R?
Triffany, how do i share my screen shots?
Looks like Truc was nice enough to help you with this. Did you find the posting in the Training section?
hi, am sorry my stops on the GU was wrong i actually had it at 1.54907… so back to my question is this a good R:R?…
Great Q Jeremy!
And this is an incredibly important topic. (I’m not sure if you’re in Triff’s course but she will cover it I’m sure!)
To calculate your Risk Reward Ratio (RRR), you can tally the pips between your Target and your SL. (easy to pull it with the MT4 crosshair tool to measure it, then a quick calculation)
eg. 1st position @ 5428: 98 pips SL / 1st target 62.7pips = 1.56: 1 RRR
You can do it individually for each position or average the price if you scale in with more than 1 entry.
So for the example above, the RRR is inverted – we’re risking 1.5 pips to get 1. Ideally we want 2nd number bigger than the 1st. Generally I won’t take a trade unless there’s a minimum 1:1.5 RRR. I will never take a trade that has less than 1.0 – technically this is called “negative expectancy” and over the long run is not healthy for your account.
Risk / Money Management is a huge topic, so I’ll stop there… lol.
This is just the beginning…I’m excited for you!!! ;o)
Arghhh, just found the link for adding screenshots (different from Triff v1.0) – click on Category and Training.
Looking forward to some pretty pics!
Hey Jeremy,
Triffany recommended a great free program called Jing (@ http://www.techsmith.com) which I use too – captures pics and videos and gives you a simple share link. It’s an awesome little program, super easy to use, with a few gigs storage space on their server. Straightforward sign up process too.
Hope this helps.
Thank you for being so responsive. Very nice of you.
Hi Yaqui, thanks for you replies… really inspirational! your points on the RRR is noted… thanks
Hi Jeremy, Triffany,
Always a pleasure, happy to help! Just grateful to be part of this wonderful community.
Have a great weekend all!!