Hey, so the strat I've been trading is doing very good on demo. I wanted to start using money management in demo now so I can learn to trade with money management instead of it being random
The problem is I trade on any timeframe with my strat. Whichever I see the trigger on I will be trading. SO I could enter on the daily, 30, 5 minute charts. So my question is, how do you determine your lot ( pip size)
I only want to trade 2% of my account, and I won't have a set stop loss. It will vary depending on the previous high. Sometimnes I'll have a 10 pip sometimes I'll have a 45 pip stop loss. So depending on the situation it will be different. So how do you guys figure out really fast (if you're trading on the 5 minute) you have to learn how to calculate it instantly! Could someone give me the math on how to do it, or how you do it?
Thanks for helping a rookie out!
Joe
The problem is I trade on any timeframe with my strat. Whichever I see the trigger on I will be trading. SO I could enter on the daily, 30, 5 minute charts. So my question is, how do you determine your lot ( pip size)
I only want to trade 2% of my account, and I won't have a set stop loss. It will vary depending on the previous high. Sometimnes I'll have a 10 pip sometimes I'll have a 45 pip stop loss. So depending on the situation it will be different. So how do you guys figure out really fast (if you're trading on the 5 minute) you have to learn how to calculate it instantly! Could someone give me the math on how to do it, or how you do it?
Thanks for helping a rookie out!
Joe