I haven't traded live yet; still learning everyday. I plan on using a discretionary system. With that in mind, is it common for successful FX traders to very their risk per trade? For example, in 60% of trades one may risk 1-2% of account, 30% of trades would risk 3%, with about 8% risking 4% and the remaining 2% risking 5% or more.
As I demo trade, I've found that usually the trade is just part of the normal system, making conservative MM extremely important. But sometimes, every now and than, "the stars are all lined up just right," I up my percentage, and (so far) have always been right.
Would you recommend this MM strategy in real world trading as well?
Thank you so much to all the generous and experienced posters here at FF! I've learned so much from you already.
-Tim
As I demo trade, I've found that usually the trade is just part of the normal system, making conservative MM extremely important. But sometimes, every now and than, "the stars are all lined up just right," I up my percentage, and (so far) have always been right.
Would you recommend this MM strategy in real world trading as well?
Thank you so much to all the generous and experienced posters here at FF! I've learned so much from you already.
-Tim