Tradingview makes it easy to plot out risk reward if you can't intuit it the correct price level to exit at. In general, you want to make trades that have greater than 1:1 risk:reward. If your risk of loss is equal to your risk of gain then it's not worthwhile to make a trade as your probability based profit will be zero. Looking here at the recent dip, assuming...
Top 5 Risk Management Rules: 1. Only Trade with Risk Capital -Risk Capital is the amount of money you are willing to lose and do not include your living capital into your trading account! 2. 2% Risk Management -The 2% Rule prohibits you from risking more than 2% of your account equity on each trade you are entering. 3. 6% Risk Management -The 6% Rule prohibits...