{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/high-reward-or-high-win-rate\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/high-reward-or-high-win-rate\/","headline":"Should You Trade High Reward or High Win Rate?","name":"Should You Trade High Reward or High Win Rate?","description":"Should You Trade High Reward or High Win Rate? Time limit: 0 Quiz-summary 0 of 7 questions completed Questions: 1 2 3 4 5 6 7 Information Which trader are you? From our surveys we know that 64% of traders aim for a higher win rate, over higher reward, but\u2026 Is this for you? Does […]","datePublished":"2019-03-07","dateModified":"2019-03-08","author":{"@type":"Person","@id":"https:\/\/forexschoolonline.com\/author\/jonfox\/#Person","name":"Johnathon Fox","url":"https:\/\/forexschoolonline.com\/author\/jonfox\/","identifier":1,"description":"Johnathon is a Forex and Futures trader with over ten years trading experience who also acts as a mentor and coach to thousands and has written for some of the biggest finance and trading sites in the world.","image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Forex School Online","logo":{"@type":"ImageObject","@id":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","url":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","width":240,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2019\/03\/high-reward.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2019\/03\/high-reward.png","height":720,"width":1280},"url":"https:\/\/forexschoolonline.com\/high-reward-or-high-win-rate\/","about":["Article","Content Upgrade","Forex Trading Tools","Money management","Stops - Profits - Trade Management"],"wordCount":1481,"articleBody":"Should You Trade High Reward or High Win Rate?                                        Time limit: 0                                                Quiz-summary                            0 of 7 questions completed                        Questions:                                                                        1                                            2                                            3                                            4                                            5                                            6                                            7                                                                                                                            Information                                                                            Which trader are you?From our surveys we know that 64% of traders aim for a higher win rate, over higher reward, but\u2026Is this for you? Does that trade management style suit you and what should you do?Are you the trader who likes\/wants\/needs to trade for the bigger risk reward trades to feel better in your trading? Do you feel that you need to aim for and achieve targets of a minimum 2\/1 risk reward, otherwise your overall account risk reward just will not make enough money for you to make profits?Or. do you worry and start to have real fears about giving your profits back to the market? Do you look to take profit more regularly? Are you happy with smaller risk rewards as long as you don\u2019t have to sit and take on so many losses.Just answer these questions one at a time, giving the answer that suits your trading as close as possible at this present moment. There is no email to find out the answers. Very Lastly; I would love to hear if the results were accurate for you? Let me know in the comments section below.                                                                                                                    You have already completed the quiz before. Hence you can not start it again.                                                                Quiz is loading...                                                                You must sign in or sign up to start the quiz.                                                                You have to finish following quiz, to start this quiz:                                                                Results                                        Time has elapsed                                                                Categories                                                                                                                        Not categorized                                0%                                                                                                                                                                                                                                        The High Risk Reward Trader The high risk reward trader is a trader that needs to be really mentally strong.This trader takes trades that have rewards with payoffs of 2\/1 as a minimum, and normally a lot more.Whilst aiming and trading for these larger reward targets, this trader needs to be mentally prepared to take on the losses that will come while waiting for the big winners that make them profitable.This trade management method of looking for a higher risk reward target can involve big losing streaks. You need to be really aware of this if this is the route you are choosing.This trade management method can make solid profits as long as the trading edge and method being used are given a large number of trades to play out. A HUGE mistake a lot of traders make all too often is jumping ship because they lose a couple of trades and they lose faith in their method\/edge.“It is even more important if using this trade management to give yourself a large number of trades so your edge can play out.”You need to practice this method on your New York close demo account so you know exactly what you are in for, are 100% confident in what you are doing and have crushed any potential doubts.To make sure you are never over-risking on your account and always in a great place to take advantage of trades so you can cash in when the time is right, make sure you think about the money management method you plan to use with your edge and method. Read the trading lesson at; Start Using a Forex Money Management Method That Actually Works that discusses the different options you have on money management strategies.                                                                                                                                                             The High Win Rate TraderThe high win rate trader is the one who is consistently filling up their trading bank balance with regular wins and profits. Rafael Nadal is an awesome tennis player, but the reason he is so good and especially at the French Open is because he plays high probability tennis. One example If you ever get a chance to watch him play live is that he hits his rallying shots i,e forehand\/backhand so much higher over the net. He uses a massive amount of topspin that whips the ball high up over the net and in the process takes out a major element of losing point; hitting the ball into the net.The high win rate trader is looking to use a similar mindset in that they are not looking for the big winners, but the high probability play with a safer margins. This trader doesn\u2019t mind that they are not regularly bagging huge running winners, but instead are looking for consistent profits. After taking on too many losing streaks in pursuit of the large winner, this trader gave up the chase and instead looked for something that would produce something a lot more regularly, with many fewer losses.You need to be super watchful over your overall account risk reward. It can be easy to forget and not realise when you are making a lot of winning trades that you are making either a lot of careless trade management errors, or that your account risk reward situation is not great.At the end of the month and year profits have to be made. It is no good regularly taking consistent profits if they are often being wiped out by losses. This is why you need to always be mindful of your overall account risk reward.At the end of the month and year profits have to be made.That is why it can also help to try to \u2018CASH IN\u2019, so to speak, on the bigger risk reward trades when you find the high probability plays. This gives your overall account a big risk reward and profit boost from time to time.It is critical you practice on your New York close demo account how to take full advantage of your big winners when they come and still regularly take the smaller profits.Lastly; make sure you are never over-risking on your account and always in a great place to take advantage of trades. Your money management method is super important and needs to align with your strategy and plan.Read the trading lesson at; Start Using a Forex Money Management Method That Actually Works that discusses the different options you have on money management strategies.                                                                                                                                                                                                                                                                          1                                            2                                            3                                            4                                            5                                            6                                            7                                                                                                                                                                Answered                                                                                        Review                                                                                                                                                                                                                                                                                                                                                                            Question 1 of 7                                                                            1. Question                                                                                                                                                            QUESTION:If you were risking $1 million dollars on your very next trade, where would you feel the best taking profit at?                                                                                                                                                                                                                                                                                                                                                                                     5\/1 Risk Reward                                                                                                                                                                                                                                                                                                                                                                                                                             Move my whole position right away so that I cannot lose any of that $1 million dollars                                                                                                                                                                                                                                                                                                                                                                                                                             1\/1 Risk Reward                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    Question 2 of 7                                                                            2. Question                                                                                                                                                            QUESTION:If you were risking $100 on your very next trade, where would you feel the best taking profit at?                                                                                                                                                                                                                                                                                                                                                                                     1\/1 Risk Rward                                                                                                                                                                                                                                                                                                                                                                                                                             5\/1 Risk Reward                                                                                                                                                                                                                                                                                                                                                                                                                             Move my whole position to a "No loss breakeven" position right away so that I cannot lose any of my capital.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    Question 3 of 7                                                                            3. Question                                                                                                                                                            QUESTION:When managing your trades, when do you feel the best?                                                                                                                                                                                                                                                                                                                                                                                     I am taking profit                                                                                                                                                                                                                                                                                                                                                                                                                             I am exiting a trade                                                                                                                                                                                                                                                                                                                                                                                                                             Following my trading plan to the letter                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    Question 4 of 7                                                                            4. Question                                                                                                                                                            SCENARIO:Price is rolling along nicely in a strong trend higher and your trade has just moved to put you at 1\/1 reward into profit (paper profits).\u00a0A minor resistance level is approaching. You are in a strong trend.What do you?                                                                                                                                                                                                                                                                                                                                                                                     Lock & Load Baby = I am waiting for my minimum 3\/1 risk reward profit if not more.                                                                                                                                                                                                                                                                                                                                                                                                                             I am taking a little profit off the table here and then seeing if price can continue with the trend.                                                                                                                                                                                                                                                                                                                                                                                                                             I am out of here. What was that movie? Gone With the Wind?                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    Question 5 of 7                                                                            5. Question                                                                                                                                                            QUESTION:Your favorite setup has just formed and you have now been entered into the trade.What do you do?                                                                                                                                                                                                                                                                                                                                                                                     Before the trade has even been entered you work out targets and the areas where you are going to take profit and move to break even to manage your trade and protect your capital.                                                                                                                                                                                                                                                                                                                                                                                                                             After price breaks you let it move in your favor, potentially using strategies like trailing stops to increase profits and hopefully make big winners.                                                                                                                                                                                                                                                                                                                                                                                                                             Sit back, relax and light a stogie waiting for the cash to roll in from your killer setup                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     Question 6 of 7                                                                            6. Question                                                                                                                                                            QUESTION:You are in a trading competition. You need to make bigger gains in your account and more quickly.How do you do it?                                                                                                                                                                                                                                                                                                                                                                                     Simple = I would just trade a lot more markets.                                                                                                                                                                                                                                                                                                                                                                                                                             That's easy = you just increase your risk.                                                                                                                                                                                                                                                                                                                                                                                                                             Trading competitions are for chumps as they instill terrible habits.                                                                                                                                                                                                                                                                                                                                                                                                                             I would hold trades for a lot longer than usual.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    Question 7 of 7                                                                            7. Question                                                                                                                                                            QUESTION:You have just taken 50%\u00a0profit at your first target level.What do you do now?                                                                                                                                                                                                                                                                                                                                                                                     Before entering the trade I had worked out my pre-trade plan and whether I am to trail my stop or take profit at target two, so I just need to follow this.                                                                                                                                                                                                                                                                                                                                                                                                                             I will leave my second position to run along as far as it can go and hopefully bag a nice, large running winner.                                                                                                                                                                                                                                                                                                                                                                                                                             I normally just manage the trade as it plays out and see how things go.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        window.wpProQuizInitList = window.wpProQuizInitList || [];            window.wpProQuizInitList.push({                id: '#wpProQuiz_4',                init: {                    quizId: 4,                    mode: 0,                    globalPoints: 35,                    timelimit: 0,                    resultsGrade: [100,50],                    bo: 6156,                    qpp: 0,                    catPoints: [35],                    formPos: 0,                    lbn: \"Finish quiz\",                    json: {\"27\":{\"type\":\"single\",\"id\":27,\"catId\":0,\"disCorrect\":1,\"diffMode\":1,\"points\":[5,1,1],\"correct\":[0,0,0]},\"34\":{\"type\":\"single\",\"id\":34,\"catId\":0,\"disCorrect\":1,\"diffMode\":1,\"points\":[1,5,0],\"correct\":[0,0,0]},\"29\":{\"type\":\"single\",\"id\":29,\"catId\":0,\"disCorrect\":1,\"diffMode\":1,\"points\":[5,2,1],\"correct\":[0,0,0]},\"30\":{\"type\":\"single\",\"id\":30,\"catId\":0,\"disCorrect\":1,\"diffMode\":1,\"points\":[5,1,0],\"correct\":[0,0,0]},\"31\":{\"type\":\"single\",\"id\":31,\"catId\":0,\"disCorrect\":1,\"diffMode\":1,\"points\":[1,5,0],\"correct\":[0,0,0]},\"32\":{\"type\":\"single\",\"id\":32,\"catId\":0,\"disCorrect\":1,\"diffMode\":1,\"points\":[5,5,1,5],\"correct\":[0,0,0,0]},\"33\":{\"type\":\"single\",\"id\":33,\"catId\":0,\"disCorrect\":1,\"diffMode\":1,\"points\":[1,5,0],\"correct\":[0,0,0]}}                }            });                "}