yes, is that 'crazy'?...what is a suggested stop/profit ratio?...also, so you track SP and Crude to enter either the EUR/USD or GBP/USD?...interesting...hmmm..
does anyone trade a cross rate exclusively?...only focusing on one?...I am thinking that may be the best route to go?...anyone agree?...if yes, which one do you trade?
Why do you think it's the best route, wouldn't the more popular and liquid pairs be less prone to unexpected spikes plus spreads are narrower, both important to a scalper. You're doing great with the majors so why change, don't tell me you're bored already!
There isn't one, you've got to look at Risk:Reward in context and take Win:Lose into account. For example you'll get some people saying it should always be greater than 1:1, but even at 1:4 it doesn't automatically follow that a trader is profitable, they might only have a win:lose of 1:5! My actual risk:reward is often skewed worse than yours but my win:lose compensates....end result = profit.
As you can see from today's price action, those rounded resistance targets were taken out and rather significantly. As I said, they were trader traps, and if you took shorts based on those numbers, you got stopped. To determine resistance points, it is better to use your charts (particularly fibs) to find those levels rather than looking at rounded numbers.
Target reached (exit at 1.0762). Staying in with 1/2 of position size. (Please note where EUR/USD, GBP/USD, AUD/USD, EUR/JPY are now - whatever appeared there on 07-13 it was not what should be called resistance)