Hey Guys! Do you find your self increasing and decreasing the lot sizes you trade depending on your trade set up? Or perhaps even doubling down after a previous losing trade? I know I use to! For a number of reasons! The most common being "making up for previous losses". Now I don't completely disagree with different position sizes depending on the trade set up....
The temptation of bigger lots is something all traders experience in some parts of their journey. Yes the wins can be nice but the losses can be even greater and damaging. The benefits outweigh every time!!! MOVE BIG RANGE We cannot emphasize enough the benefits of breaking down lot sizes to micro lots to learn how to move and maneuver the range in a volatile...
How do I calculate/manage risk? Managing your risk is absolutely essential as profitable trader. When you enter a trade there are only five outcomes: 1) Big win; 2) Small win; 3) Break even; 4) Small loss; 5) Big loss. As long as you can cut off the "BIG LOSS", no matter how bad you trade, its still likely that you are a profitable trader. Most people's...