Understanding Risk-Reward in Forex Trading

Hey everyone, wanted to quickly touch on risk-reward, which I'm still getting my head around but seeing its importance more and more. Basically, it's the ratio comparing how much you stand to lose on a trade versus how much you expect to gain. If I'm looking at, say, $AUDUSD at 0.69013, and I set a stop-loss 30 pips below, but my target is 90 pips above, that's a 1:3 risk-reward. It doesn't mean every trade will win, obviously, but over many trades, if your wins are consistently larger than your losses, you can still be profitable even with a winning percentage below 50%. It's a key piece of the puzzle I'm trying to integrate into my own setups.