Maintain a minimum ratio of 1:2. Your target profit must be at least double your maximum risk.
Walsh wrote before the explosion of zero-commission brokers like Robinhood and Webull. His advice on "PFOF" (Payment for Order Flow) is more relevant than ever. He warns that if your broker offers "free" trades, you are the product. Your orders are being sold to high-frequency traders who front-run you. Maintain a minimum ratio of 1:2