MightyOne wrote:Instead of a flat x% I will risk x% per pip so that my space can be of any size.
$400+ accounts: 0.025%, 8x smaller than 2% over 10 pips
$1000+ accounts: 0.01%, 20x smaller
$5000+ accounts: 0.004%, 50x smaller
$10000+ accounts: 0.002%, 100x smaller.
The #1 rule to making money is that you do not lose it; the closer that you can get to risk free the better.
Yours might look like this:
(5% / 0.025) / 40 space = 5 trades...
& by 'trades' i mean the total destruction of 'space' (DoS Attack? lol)
So basically we are breaking down the weekly total risk into 5 trades using 40 pip stops on each.
Continue reducing space add nauseum as the market moves in our favor.
I don't like that, feels too much like trading for pips to me.
I want a POSITION/SL set and then work from that point upward with my total of what I'm willing to risk.