Risk to reward is often made to sound like the one factor that makes for successful trading. That is a false assumption even though it can be mathematically correct. If one's methodology does not produce enough of trades that hit the reward (i.e. at a winning level) to make it meaningful and if it doesn't produce enough of winning trades to make a trader profitable overall, then that trader's R:R is meaningless regardless of the math underlying it. Whatever one's trading plan is their risk to reward must make sense to their trading plan. In my case, by plan I mean how I plan to engage the markets. In my case I plan to let the market write my trading plan as the session evolves and I respond to its PA using tools and skills that I am familiar with, have practiced those tools and skills over and over until I am comfortable and competent using the tools. Comfortable and competent enough to be able to produce a high win rate, more often than not, and in ways that render me an overall profit.
I usually don't trade in last 30min or 60m of the session but if I do and I have a paper loss on my hands I will exit and take the loss no later than 15 minutes before the close if trading a money account. If practicing trading on a SIM I may hold the loss to within 10 seconds of the close. In a money account I am ALWAYS flat before day session ends even if it means taking a paperloss.
More often than I will press for size on next trade. For there is no such thing as days to recover from a DD. It is usually minutes or an hour or two. If you watch the videos I post a link to in this journal some how I deal with an intraday DD. I never have any overnight DD in a money account. Because I am always flat in a money account before the rths session, win or lose.
Like you he is generous in sharing his method, that is why I don't get mad at him for yelling at me. Unfortunately he used language that sounded like Greek to me and I got very little out of his coaching. I asked and he helped critiqued my butterflies but no matter how hard I tried, I could never make it work, so I stayed trading single legs hunting black swans. Doing that since 2014-15.
It is amazing how accurate your comments/predictions turning out to be for me. Yesterday, I scaled up to 10X my initial small size. The market decided to teach me a lesson. I traded in a TR, averaged down thinking it would turn and I could exit with a profit with 2 averaged down adds. All of a sudden within seconds it dropped like a rock. I didn't put any SL on these trades (to avoid being stopped out) and the losses quickly piled up. At one point completely wiped out all 46 days of accumulated profits and then some. I managed to trade my way out of it eventually and ended up with a profitable day. If I traded leverage instruments I would be completely wiped out yesterday. Yes, it is a very dangerous game.