Sold Silver for a 1:1 risk:reward profit
I decided that I was going to short silver today, my entry was at 3200 with a stop above the previous high at 3220. My target was 3180 which is a 1:1 trade. Also 3180 was a support level which you can see in the 15 minute chart. You would expect a bounce at this level but you never know how far so I rather take my profit here.
I have found that by taking at least a 1:1 trade you have a chance of making money. If you get into the habit of any less than this, you will be sure to lose money over the long term.
Todays trade total, 20 point profit!
