aliassmith wrote:Libertarian wrote:Hey Alias, thanks for sharing you bit about how you build up your account. I think I may be on the verge of being able to do just that. I wanted to ask you. I have been trying to follow the good Captain's MM he posted and I think I have a decent handle on it thanks to him and others. The problem I ran into is that I don't take a set number of pips or risk every time I trade like he has setup. I'm trying to take a hundred(s) pips and do that in as little risk as possible. I take one, two, three, stabs at it before I can pick up the "real" move, my win rate isn't good enough to trade like the Captain. That is why I like what you shared as I have always been a lot more informal in my trading (probably not a good thing, but who knows). I just started my risk really low (AKA the lowest possible) and have been learning to take the losses in stride (a HUGE mental barrier). Anyway, I know I need to start having a plan with my MM if I'm going to be adding a zero. The reason I wraote this is I see you said you started with .69% of your account, seems like a very specific number, any reason why you chose that? Also, any advice on folks that trade the way I described? I assume its just about getting to your waypoint and starting over, but I don't want to screw myself up before I even get started. Thanks.
It's just a value between .5% and 1% that happen to
fit the trade at the time.
I missed the other question. Yes it's basically about starting with low risk and building to 20something% and starting over at low risk. It would have to be tailored to how you trade.
So that .69% wasn't anything special and I blew it up and started again with .8% . $hit happens!